New Jersey sports bettors laid down nearly $748 million in legal wagers in April, most of which was gambled online.
More than $681 million, or 91%, of the total wagered on sports last month in NJ was via mobile apps or online.
NJ sportsbooks reported $54.84 million in revenue in April, according to data released Friday by the state Division of Gaming Enforcement.
Overall, the monthly handle was the seventh-largest in NJ since sports betting was legalized in 2018. The Garden State’s sports betting revenue in April was the fifth-highest grossing month over the same period.
Hoops are a boost to NJ sports betting
April is typically the start of a monthly dip in sports betting handle that runs through August. But, NJ bettors have an affinity for basketball gambling that most other states do not.
“New Jersey is unique in that it has never been quite as reliant on football as other legal jurisdictions,” said Dustin Gouker, an analyst for PlayNJ. “NBA has always been particularly popular.”
The Sixers are currently the No. 1 seed in the Eastern Conference. The Nets are the second seed and must-see-tv. The Knicks, arguably the region’s most popular team, are the fifth seed and will make the playoffs for the first time since 2012-13.
Garden State sports betting blowing by milestones
NJ sports betting eclipsed three major milestones in April.
The national sports betting leader has now passed $15 billion in lifetime handle, $1 billion in revenue, and $150 million in tax revenue.
“Considering the challenges, particularly in 2020, $15 billion in wagering and $1 billion in revenue are incredible yard sticks that really drive home just how successful the New Jersey market has been,” said Eric Ramsey, analyst for PlayNJ. “At least until New York launches its sports betting industry, New Jersey seems untouchable as the nation’s largest market.”
Online/mobile driving the NJ sports betting market
April’s results also highlight why NJ is leaps and bounds ahead of other sports betting jurisdictions. Online and mobile sports betting is a relatively mature market in NJ, with 19 options for gamblers (additional operators could launch in time for NFL season).
Meadowlands Racetrack (FanDuel Sportsbook/PointsBet) topped the online market with $25.5 million in gross revenue, according to the NJDGE data.
Resorts Digital, which includes DraftKings Sportsbook and FOXBet, reported $12 million in April.
Here are the revenue results for the rest of NJ’s online/mobile operators:
- BetMGM/Borgata: $5.2 million
- Ocean Casino/William Hill/Tipico: $1.8 million
- Monmouth/William Hill/SugarHouse/TheScore: $1.8 million
- Hard Rock/Bet365/Unibet: $1.3 million
- Golden Nugget/BetAmerica: $202,545
- Tropicana/William Hill: $52,922
- Caesars Sportsbook/888sport: -$183,283
Brick-and-mortar sportsbook results
Retail sportsbooks in NJ also had a decent month. The nine Atlantic City casino sportsbooks and three racetracks took in more than $66.8 million in legal wagers.
The Meadowlands/FanDuel Sportsbook continues to outperform the entire Atlantic City market. The North Jersey racetrack shop posted $3.6 million in revenue. Collectively, AC casino sportsbooks reported $2.93 million in revenue.
“Retail betting is slowly returning to normal, and that could become even more pronounced when all capacity restrictions are lifted next week,” Gouker said.
AP Photo/Alex Brandon