New Jersey June Sports Betting Revenue Increases 35%

Spread the Word:

Despite a declining month for New Jersey sports betting in terms of handle, revenue increased to 35% in June, which neutralized the bitter effects of a typically slow season.

According to the numbers released Friday by the state, New Jersey sports betting generated $766.9 million total sports betting handle, representing a 5.8% decline from May’s $814.27 million. However, last month’s handle was a whopping increase of 364.7% year-over-year as the Garden State’s sportsbooks had brought in just $165 million amid the height of the pandemic last June.

January had witnessed the highest handle for this year when NJ sportsbook had amassed $958.72 million in total bets. But Dec. 2020 holds the all-time national record when the Garden State posted $996.3 million, the highest-ever monthly handle reported by any state in a single month.

How Revenue Soared 35% Without Handle Increase?

The downward trend in the monthly handle is both normal and expected during the months sandwiched between March and September – a span usually called spring and summer slump in US sports betting in the wake of lack of sporting events.

With a dipping handle in June, New Jersey sports betting was no exception, but operator revenue soaring to 35% to $71.3 million in June was both welcoming and surprising. A considerable hold of 9.3% made it happen, which was significantly higher than May’s 6.5%, and April’s 7.3% hold.

As a result, June’s revenue of $71.3 million was up 34.7% from May’s $52.9 million, and a 463.9% rise in the year-over-year comparison.

Total sports betting action in June generated $10.5 million in state taxes.

Retail Betting Gained Some Ground

Mobile sports betting fell just under 90% of all bets placed during the month of June, with sportsbooks reporting $683 million in the online handle, representing a 7% decline from May’s $734.65 million, but up 314% from June 2020 ($165 million).

The slight loss for digital betting meant some significant gain for New Jersey retail betting, which was $83.9 million in June, representing a 4 million rise from May’s $79.7 million.

This slow but steady trend suggests the residents are going out to visit brick-and-mortar sportsbooks.

Parlays Attracted Most Revenue

Parlays attracted the most revenue for NJ sportsbooks last month, generating $31 million as the operators have held 17.8% on parlays for the year.

The ‘Other’ category – which includes tennis, soccer, and table tennis – brought in the second-highest revenue at $17.5 million last month.

Basketball drew $14.5 million in revenue for the sportsbooks, while baseball generated $3.5 million in revenue.

FanDuel Continues to Lead New Jersey Sports Betting

FanDuel-powered Meadowlands Racetrack posted 62% of all New Jersey sports betting revenue for June, which is down 65% witnessed in June. PointsBet is the other partner of the Meadowlands, which will see its third partner Superbook USA launch next month.

The Resorts license – shared by DraftKings, Fox Bet, and Resorts Digital – came in second place with an 18.5% share.

Borgata and BetMGM were the third with a 9% share.

Other small players in the Garden State’s sports – including William Hill, SugarHouse, theScore, Bally’s, and Caesars – picked up the remaining chunks of the pie.

Related News

New Jersey sports betting handle
April 22, 2022

New Jersey Sports Betting Recovers $1B-Plus Handle Trend in March

New Jersey sports betting recovered in March its “new normal” status of $1 billion-plus in handle after a sluggish February. March was the sixth month in the last seven that […]

read more
New Jersey sports betting April
March 30, 2022

New Jersey Online Sports Betting

New Jersey had sought to legalize online sports betting for years, and the state formally challenged the Professional and Amateur Sports Protection Act of 1992 (PASPA) in hope of legalizing […]

read more
August 25, 2021

New Jersey Online Casinos

Looking to play casino games online in New Jersey? New Jersey has nine commercial casinos, which are all confined to the Atlantic City area. These casinos are: Most of these […]

read more
View of Jersey city
August 23, 2021

New Jersey Posts $118M Monthly Online Gambling Record in July

New Jersey’s nine casinos have collectively posted $118.6 million in online gambling revenue, eclipsing the previous record of $113.7 million seen this March. According to the figures released Monday by […]

read more

Stay Updated & Receive Exclusive Offers

Be the first to know when new states legalize online gambling and gain access to exclusive casino and sports betting promotional offers.