NJ sports betting handle hits $315m in July

New Jersey’s sports betting market posted strong figures in July thanks to the return of major league sports at the end of July.

According to the latest figures from the New Jersey Division of Gaming Enforcement (NJDGE), sportsbooks in the state of New Jersey took $315.1m in bets in July representing a 35.3% year-on-year increase in handle.

Bettors in the state wagered $295.8m via online and mobile betting platforms, while $193m was bet in-person at land-based sportsbooks in the state.

Sportsbook revenue amounted to $29.6m in July, up from the $17.9m generated the same time last year. July’s revenue also represented a 103.2% month-on-month increase on the $12.6m generated in June.

Breaking down the figures

Meadowlands, along with its sublicensees FanDuel and PointsBet, continued to lead the market after generating $14.1min betting revenue, representing a 22% year-on-year increase in revenue.

Resorts Digital, which houses DraftKings and FoxBet, saw revenue increase by 121.6% year-on-year to $8.2m.

The Borgata also reported strong performance in July after generating $3m in revenue, up 243.1% from the $859,478 generated last year.

What did people bet on?

New Jersey doesn’t report handle per sport each month, instead, the figures include year-to-date completed events handle in every monthly report. However, the individual betting handle can be calculated by subtracted July’s total for completed events from June’s total.

In July, $59.6m was wagered on completed baseball games, up from the $7m wagered the month prior. Eight NBA games also played out in July which helped basketball handle grow to $20.8m in July up from $3.2m in June.

A total of $70.6m was wagered on completed parlay events up from the $27.4m wagered in June.

In the state report, the “other” sports category, which refers to anything outside of football, basketball, and baseball, was once again the most popular category among bettors.

According to the report, $174.1m was bet on completed events in the “other” category in July.

With the absence of the professional US major league sports, bettors turned their attention to sports that fall into the “other” category. But that will likely change in the coming months now that the MLB, NBA and NHL have resumed play.

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