New Jersey sportsbooks continued to rebound from their lows in recent months in the midst of a pandemic that had brought sports and betting to a grinding halt.
As sports return and as the calendar has turned to summer, what is usually one of the slowest times on the sports calendar is picking up the pace.
NJ sports betting accounted for $165 million in wagers in June 2020. That’s up from $118 million in handle in May and $55 million in April. And revenue from sports betting actually outpaced that of June 2019.
That’s almost certainly because there were more and more things to bet on in the state in June, including PGA Tour events, UFC fights, NASCAR races and more European soccer, such as the English Premier League.
All sports betting took place online, as retail sportsbooks in New Jersey remained closed for all of June.
NJ sports betting numbers for June 2020 at a glance
June could be looked at as both promising and disappointing at the same time.
Compared to June 2019, obviously, the numbers pale in comparison.
Last June, sportsbooks saw $273 million in betting handle. And if sports had gone off as normal in June 2020, we’d probably be approaching half a billion dollars in wagers in the state.
But given that there was nothing to bet on in terms of games in the major US sports in June, the fact that there was that much betting activity is an encouraging sign.
NJ sportsbooks generated $12.6 million in revenue in the month, which is actually better than they did in June of last year ($9.7 million).
|Meadowlands (FanDuel, PointsBet)||$6,054,769|
|Resorts (DraftKings, Fox Bet, Resorts Online)||$3,878,994|
|Borgata (BetMGM, Borgata Sports)||$877,303|
|Caesars NJ (Ocean Resort)||$687,685|
|Monmouth (William Hill, now Caesars, SugarHouse, TheScore Bet)||$584,132|
|Hard Rock (Hard Rock online, Bet365 NJ, Unibet)||$450,589|
|Golden Nugget (BetAmerica, GN Online)||$66,533|
|Bally's (Caesars, 888)||$38,960|
|Tropicana (William Hill)||$2,426|
FanDuel and DraftKings still lead NJ sportsbooks
The pandemic has not yet changed who sits atop the NJ sports betting pecking order.
The sportsbooks under the license of Meadowlands Racetrack — FanDuel and PointsBet — led the way with more than half of all revenue in the state at just more than $6 million.
NJ Gambling Sites understands that the vast majority of that revenue was generated by FanDuel.
The sportsbooks under Resorts’ license followed with $3.9 million; again, DraftKings accounts for most of this figure.
Everyone else is left with the scraps and less than a quarter of the market. Borgata (BetMGM) followed with just under a million dollars in revenue.
Ocean Casino Resort had a fairly strong month of $677,000 in revenue.
July sports betting in New Jersey will be even better
July promises to be even better for NJ sportsbooks.
While it can be a slow month for betting when times are normal, it will be different in 2020.
The prospects of Major League Baseball and the NBA returning to play at the end of this month should result in more betting at sportsbooks.
Futures betting on the major US team sports has already picked up as their plans have solidified.
NJ sportsbook operators will certainly be looking to the fall, however, and the potential of an NFL season. This is the busiest time for sportsbooks traditionally, and pro football betting would likely help them start to find a sense of normalcy.