Sports betting in New Jersey ended April with a big splash, but not as big as March.
On the one-year anniversary of PASPA’s repeal, the DGE reported overall handle at $313,719,562. That signifies a decrease from the $372,451,342 reported last month.
More importantly, the 10 retail and 13 online sportsbooks hit record revenue of $31.7 million in March.
Revenue in April, however, dropped to $21.2 million.
NJ sports betting revenue breakdown
Here is the revenue breakdown of the 10 retail operators and their online partners.
|Property (Online)||Online Revenue||Retail Revenue||April Total|
|Bally's (Caesars, 888)||$270,782||$80,581||$351,363|
|Golden Nugget (BetAmerica, GN Online)||$39,392||($176)||$39,216|
|Hard Rock (Hard Rock online)||$81,613||$49,137||$130,750|
|Meadowlands (FanDuel, PointsBet)||$8,776,808||$3,339,818||$12,116,626|
|Monmouth (William Hill, SugarHouse)||$1,791,058||$761,316||$2,552,374|
|Ocean Resort (William Hill)||$874,737||($37,007)||$837,730|
|Resorts (DraftKings, BetStars, Resorts Online)||$4,766,701||$245,717||$5,012,418|
|Tropicana (William Hill)||($20,279)||$97,247||$76,968|
Mobile sports betting still reigns
Mobile sports betting is once again king, and it’s likely to remain king of NJ sports betting forever. The total online handle of $253,976,244 once again crushes retail’s $59,743,318.
FanDuel Sportsbook and Meadowlands Racetrack claimed the top position again. The Meadowlands posted $8.8 million in online revenue, and while the online part is shared by PointsBet, the majority likely comes from FanDuel’s app.
Same goes for DraftKings Sportsbook, which accounts for the majority of Resorts’ $4.8 million online revenue.
Together, the two apps earned $16.5 million in online revenue. And that leaves very little for the rest of the market.
More from FanDuel’s view at the top
Yes, FanDuel leading the pack may be sounding like a broken record at this point. But they have a big advantage over the rest of the NJ sports betting field.
The retail sportsbook, and by extension the app, are an easy drive from New York City.
A short ride through the Lincoln Tunnel or over the George Washington Bridge and customers are in the Garden State. And once you cross state lines, mobile betting is legal.
As long as New York thinks and rethinks its sports betting plans, FanDuel and Meadowlands Racetrack have the most to gain. In fact, April was the company’s second-biggest revenue month to date.
In a statement, FanDuel reflected on being the leader in New Jersey:
“The FanDuel Sportsbook is the clear number one sports betting operator in New Jersey, a notable achievement just one year since the overturn of PASPA.
“April was our second-biggest revenue month since launch, thanks in part to enthusiasm for the NBA and NHL Playoffs as well as the start of baseball season. Our leadership extends beyond just market share, as we offer over 50 percent more markets per event than other operators.”
Prime sports betting events down
When it comes to sports betting, NFL season is number one. But while football is on break, basketball is the top sport for bettors in New Jersey.
In April, most single bets ($28,397,213) were placed on basketball events, according to the DGE. That makes sense as the NCAA Tournament closed out with the Final Four. And the NBA edged closer to playoff season.
But besides Final Four weekend and the start of the MLB regular season, the only other major sporting event was The 2019 Masters. And Tiger Woods’ win led to NJ sportsbooks paying out millions.
But the pace picks up in May with the NBA and NHL playoffs.
Not slowing down is NJ sports betting
Phase two of NJ sports betting plans are well underway.
The newest mobile betting platform, Borgata Sports, launched earlier today. This makes it 14 online sportsbooks.
Call it the first of many more to come. The possibility of expanding from 13 to 20 by the start of the 2019 NFL season is not out of the question.
Plus, three Atlantic City casinos are putting the finishing touches on permanent sportsbooks.
Borgata has a new permanent space coming this summer. And Caesars Entertainment properties Bally’s Wild Wild West Casino and Harrah’s Resort are getting ready to up their respective retail games.
The former is going to be the biggest yet in AC at 15,228 square feet. And it will be smack dab in the middle of the Boardwalk.
Consider them among five AC events worth looking forward to this summer. Prime season at the Jersey Shore begins Memorial Day Weekend. And this time last year, NJ sports betting was still in the planning stages.
The mobile apps in the works and new retail locations certainly create some intrigue for the months ahead.