NJ sports betting is back in a very big way.
The New Jersey Division of Gaming Enforcement released its July revenue report earlier today, and let’s just say there are a few standout numbers.
The 17 operators took in $315.1 million in wagers and $29.5 million in revenue. Of course, the bulk of that handle ($295.8 million) came via mobile betting apps.
The number is higher than July 2019 when the handle came in at $251.1 million. The spike is even more noticeable when compared to June’s $165 million.
How did sports betting in New Jersey achieve such a number? Well, the return of sports such as the MLB and the NBA certainly helps.
Here are three other notable moments from July sports betting in NJ.
1. Hail the champions: FanDuel and DraftKings
Like any other month, FanDuel Sportsbook continues to be the heavyweight champion in the fight for market share.
The Meadowlands Racetrack reported a whopping $14 million in online and retail revenue. NJ Gambling Sites understands that FanDuel accounts for the majority of the revenue, and the rest is PointsBet NJ.
Even more noticeable is the fact that the number is nearly a $5 million jump from last July.
See what happens when there is more than baseball to bet on in the summer?
Resorts Digital remains in the No. 2 spot with $8.1 million.
2. Borgata, Hard Rock are making noise
While FanDuel and DraftKings continue setting the pace, other operators are making noise.
Borgata, which reopened July 26, came in just shy of $3 million in total sports revenue. That’s good enough for third-best in the market.
It should come as no surprise that $2.3 million came via the BetMGM Sportsbook and Borgata Sports apps. With Borgata closed for most of the month, bettors went online.
And it’s looking more and more likely Borgata will soar past $10 million in revenue for the year. The number currently sits at $8.9 million.
Borgata reported $10.4 million for all of 2019.
While $856,358 may not stand out as much, Hard Rock Atlantic City is quietly making strides, too. Especially when comparing it to last year’s $153,991.
3. Mobile sports betting apps are still the story
It’s no secret sportsbook apps account for the bulk of the NJ sports betting business.
However, under current conditions, this statement carries even more weight.
Like the casino floor, NJ retail sportsbooks are currently limited to a 25% capacity. There is no word as to when these restrictions will change.
So the tellers and kiosks are open for wagering, but mobile betting doesn’t have the same limitations. Hence why retail only accounted for 6% of the July handle.
And the field of online operators is expanding. Wynn Sports recently launched under the Caesars Interactive license.
Tipico, which will operate under the Ocean Casino license, is likely weeks away from launch.
Bigger days still to come
Here we are two weeks into August, and the NJ sports betting menu is overflowing.
The Stanley Cup Playoffs got underway on Monday. And you may have heard the Philadelphia Flyers are one of the favorites.
The NBA Playoffs start next week. MLB is in full swing for its shortened regular season. And of course, NFL betting season is now weeks away.
In other words, NJ sportsbooks are likely looking at a record-setting August.
Breaking down the numbers
Here is a breakdown of the July NJ sports betting revenue numbers by operator:
|Property (Online)||Online Revenue||Retail Revenue||July Total|
|Bally's (Caesars, 888)||$357,132||($124,801)||$232,331|
|Borgata (BetMGM, Borgata Sports)||$2,303,851||$ 659,699||$2,963,550|
|Golden Nugget (BetAmerica, GN Online)||$85,028||$ 13,436||$98,464|
|Hard Rock (Hard Rock online, Bet365 NJ, Unibet)||$838,812||$ 17,546||$856,358|
|Meadowlands (FanDuel, PointsBet)||$12,154,300||$1,932,746||$14,087,046|
|Monmouth (William Hill, SugarHouse, TheScore Bet)||$1,599,710||$99,049||$1,698,759|
|Ocean Resort (William Hill)||$1,409,309||$22,769||$1,432,078|
|Resorts (DraftKings, Fox Bet, Resorts Online)||$8,156,371||($1,728)||$8.154,643|
|Tropicana (William Hill)||$38,358||$66,793||$105,151|