The NJ sports betting industry posted one of its best performances in May 2021, a fitting way for the state to approach the third anniversary of the first legal bet.
Garden State sports bettors wagered more than $814.27 million last month, according to data released Wednesday by the state Division of Gaming Enforcement. New Jersey sportsbooks reported nearly $52.9 million in revenue in May 2021.
May’s handle was the fifth-highest on record since sports betting went live in June 2018. The reported sports betting revenue was the fourth-highest monthly total.
More than $4.1 billion has been legally bet with New Jersey sportsbooks in 2021.
NJ sports betting continue to raise the bar
Between June 14, 2018 (NJ’s first legal bet) and May 2021, over $15.97 billion has been wagered on sports in the Garden State.
Legal sports betting has generated $139.56 million in taxes for state coffers. New Jersey sportsbooks have reported nearly $1.1 billion in gross revenue over that time.
“New Jersey sports betting market has not only grown into the largest market in the U.S., but it has evolved into the market that is least affected by the seasonalities of sports betting,” said Eric Ramsey, analyst for PlayNJ.com. “No market can escape the ebbs and flows of sports betting, but New Jersey has become remarkably consistent.”
FanDuel, Meadowlands lead NJ sports betting pack
New Jersey sportsbooks saw most of their action electronically last month. More than $734.65 million (90.2%) was wagered online or with a mobile app, according to the NJDGE reports.
As of now, there are 19 online/mobile sports betting options in NJ. Several more will launch later this year.
Meadowlands Racetrack (FanDuel Sportsbook/PointsBet) topped the online market with $29.8 million in gross revenue, according to the state data.
Resorts Digital, which includes DraftKings Sportsbook and FoxBET, reported $9.5 million in May.
Revenue results for the rest of NJ’s online/mobile operators:
- BetMGM/Borgata: $4.7 million
- Monmouth/William Hill/SugarHouse/TheScore: $1.8 million
- Ocean Casino/William Hill/Tipico: $1.3 million
- Caesars Sportsbook/WynnSports/888sport: $518,217
- Hard Rock/Bet365/Unibet: $508,488
- Tropicana/William Hill: $48,000
- Golden Nugget/BetAmerica: -$87,211
NBA Playoff betting boosts retail totals
The nine Atlantic City casino sportsbooks and three racetracks reported more than $79.6 million in legal wagers last month.
The monthly handle is up nearly $13 million from April 2021. That could be an indication that in-person activities are returning as COVID-19 restrictions in NJ loosen.
New Jersey sportsbooks also had the added benefit of three regional basketball teams in the NBA Playoffs. The Philadelphia 76ers and Brooklyn Nets are still playing in the second round. Meanwhile, the New York Knicks took an early first-round exit.
“Success from regional teams almost always gives a market a boost, and basketball is particularly popular with New Jersey bettors,” said Dustin Gouker, analyst for PlayNJ.com. “Even more, after a year of strict capacity limits and with so many regional favorites in the NBA Playoffs, bettors seemed particularly motivated to get out and place a bet. All of it is great news for a gaming market on the mend.”
AP Photo/Matt Slocum