NJ sports betting revenue climbs despite drop in handle in July

Despite July being a slower month for sports, New Jersey sportsbooks continued to post strong figures.

According to figures from the New Jersey Division of Gaming Enforcement (NJDGE), bettors in the state wagered a total of $251.3m on sporting events. July’s handle saw a slight drop from the $273m wagered the month prior in June.

Although sports betting handle was down, revenue soared in July with bookies generating $17.9m. This is a significant increase on the $9.7m generated in June.

While July was a strong month for sportsbooks in the Garden State, these figures pale in comparison to what we will see once football season kicks off.

The top performers in the state

Once again, Meadowlands, which houses the FanDuel Sportsbook and PointsBet platform, dominated the market, generating $9.1m in sports betting revenue.

Under its license with Resorts Digital, DraftKings Sportsbook was the second most popular bookie in the state after posting a revenue of $3.7m in July.

The William Hill branded sportsbook at Monmouth Park came in at third place last month with revenues of $2m.

Online betting continues to dominate

In July, the majority of wagers were placed online. According to the NJDGE’s figures, of the $251.3m wagered on sports, $213m in bets were placed via online sportsbooks. This is equal to 85% of all sports wagers.

New Jersey’s online sports betting market continues to outpace other states with legal online sports betting. However, Pennsylvania’s June figures began to indicate a shift away from land-based betting to online, with 41% of the wagers in the state being placed online.

As Pennsylvania’s online betting market continues to grow, it will be interesting to see how New Jersey will compete with its neighboring state.

We recently had the opportunity to chat with FanDuel’s Chief Product Officer, Nik Bonaddio, about the company’s move into Pennsylvania’s online market, and what’s next for the company.

For an in-depth look at each state’s sports betting statistics visit the BettingUS stats page.

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