New Jersey sportsbooks take $814m in bets in May

New Jersey’s betting industry recorded a significant increase in handle in May.

According to the latest figures from the New Jersey Division of Gaming Enforcement, bettors in the Garden State wagered $814m on sporting events in May.

May’s handle was up from the $117.8m wagered in May 2020 and up month-on-month from $748m in April.

Bettors in the state wagered just under $734.7m via mobile and online sportsbooks and $79.6m at land-based sportsbooks.

Meanwhile, in terms of revenue, the state’s sportsbooks generated $52.9m in revenue in May, which was up from the $9.9m generated this time last year, but slightly down month-on-month from $54.8m.

In terms of tax revenue, operators in the state paid a total of $6.8m in May.

How did the operators perform?

The Meadowlands licensee, which hosts the FanDuel and PointsBet online sportsbooks, continued to dominate the market with the brands generating a combined revenue of $34.6m. Next month, the Nevada-based Superbook USA will enter the New Jersey market under the Meadowlands licence.

The Resorts licence, which hosts the Fox Bet and DraftKings sportsbooks took second place with $9.5m in revenue for the month.

The Borgata licence, which hosts the BetMGM sportsbook came in a distant third with $3.8m in betting revenue.

Monmouth Park which hosts William Hill, SugarHouse, and theScore followed with $2.8m in revenue for the month,

The Ocean Resorts Licence, which hosts another William Hill sportsbook and Tipico’s betting platform, was the only other licence to surpass $1m in revenue with a combined revenue of $1.3m.

What did people bet on?

Baseball was the most popular sport to bet on in May, with bettors wagering $326m on the sport.

Basketball was a distant second with $217m in bets, while parlays bets accounted for $81m of the state’s handle for the month.

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