New Jersey sportsbooks generate $55m in July
New Jersey sportsbooks saw handle drop to $579m in July, a 24.5% decrease from the $777m wagered in June.
The decline in wagers shows that not even America’s top sports betting market is immune from the summer slowdown in sports.
Online operators accounted for $529m, or $91.5%, of the statewide handle. Baseball led all sports in wagering with $195m of handle, followed by basketball with $74.8m. “Other” sports including the Olympics made up $180m of wagers.
Sportsbooks still managed to earn $55m in gross gaming revenue, which was down 22.9% from June but up 81.6% from July 2020.
FanDuel/PointsBet led New Jersey’s online sports betting market with $29.5m in revenue, while Resorts Digital/DraftKings/Fox Bet were a distant second with $10.6m.
BetMGM/Borgata placed third with $5.9m, followed by Monmouth/William Hill/SugarHouse/TheScore with $2m and Ocean Casino/William Hill/Tipico with $1.5m.
Retail sportsbooks saw a hefty decline in handle month-to-month, generating $49.3m in wagers compared to $83.9m in June.
Meadowlands/FanDuel led all retail sportsbooks with revenue of $2.2m.
While sports betting slowed down in July, online casinos and poker continued to soar with record revenue of $119m, an increase of 10.9% from June and up 35.7% year-on-year.
Online casino games were responsible for more than $115m of iGaming revenue. Through the first seven months of the year, online casinos have raked in $753m in revenue, an increase of 47.6% from the same seven months in 2020.
Borgata/BetMGM once again led the market with $36.5m in online casino and poker revenue, topping Golden Nugget with $33.5m. Resorts Digital took in $22.3m for third.
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