New Jersey Sports Betting Has Strong May Courtesy Of A Growing Online Takeover

Sports betting handle in New Jersey hit $318.9 million in May with revenue of $15.5 million. But online sportsbooks like FanDuel are the real hot spot.

Nearly one year ago to the day, sports betting in New Jersey began. Already, the industry has turned heads, particularly when it comes to online wagering.

And once again, the state’s online sportsbooks continued to carry the sports betting load in May.

According to financials released by the NJ Division of Gaming Enforcement on Wednesday, retail and online operators in New Jersey accepted $318,940,677 in wagers last month, translating to $15,536,384 in revenue.

To put it another way, the May handle in NJ was bigger than Nevada’s May 2018 handle.

And of that handle, more than $263.5 million came via online sportsbooks.

Accounting for 82.6% of the industry’s overall handle, and 88% of overall revenue, online wagering inched closer to total control of the NJ sports betting industry.

Online sports betting taking over in NJ

In a month featuring chalky NBA playoffs and NHL postseason games, overall sports betting revenue took a hit in New Jersey.

Last month’s $15.5 million in revenue reflects a nearly $6 million drop-off from April. Of course, compared to online casinos, sports betting is a much more volatile industry. Month-to-month comparisons are not as effective at telling a story.

The wagers, however, continue to come pouring in. Particularly via online sportsbooks.

For the fourth-straight month, online operators accounted for more than 80% of the overall handle in New Jersey. At 82.6% of the total handle, May featured the highest percentage of bets made with NJ online sportsbooks.

To boot, the $263.5 million in mobile wagers stands as the third-most made since online betting began in August 2018.

If this trend stays on track, it would not be surprising to see online sports betting in New Jersey account for more than 85% of the monthly handle by football season.

But what about retail revenue?

Brick-and-mortar sportsbooks have struggled to keep pace with their online counterparts.

May proved no different.

At $1,816,825, last month’s retail revenue sits as the second-lowest total since NJ sports betting launched in June 2018.

Even handle has taken a dive at retail sportsbooks. The $55,388,358 in bets made at land-based properties is the state’s lowest since July 2018.

Meadowlands Racetrack, which had never before reported less than $1 million in monthly revenue, totaled $796,469 in May. Monmouth Park had the second-highest total: $537,593.

But it should be noted that retail sports betting revenue is not the same as online.

Simply having on-site sportsbooks allows for casinos and racetracks to attract more guests, who then spend more money on other games and on food and beverage.

FanDuel continues to crush

A new year means a new you, right? That certainly seems to be the case in the race between NJ sports betting leaders FanDuel Sportsbook and DraftKings Sportsbook.

In 2018, DraftKings reigned over the online industry, helping license holder Resorts Atlantic City total $30.4 million in revenue. Launched a month later, FanDuel’s partner Meadowlands ended the year with $15.2 million.

This calendar year, however, the tables have turned.

Over the first five months of 2019, Meadowlands (FanDuel) has accumulated $42,399,938 in revenue, nearly $16 million more than its chief online competitor.

However, the online revenue for Resorts includes DraftKings, Resorts Sportsbook, and BetStars. Meadowlands’ online revenue includes FanDuel and PointsBet. It is generally believed that DraftKings and FanDuel make up the lion’s share of their partner’s revenues.

In a statement, FanDuel did note that its retail revenue was down:

“The FanDuel Sportsbook remains the clear market leader. Our  numbers at retail are down a tick, due to many retail customers winning big this month. We encourage fans to come to our fantastic venue at the bew Meadowlands to see the champions crowned in the NBA, NHL and Women’s World Cup in June.”

DraftKings led the online industry in revenue for the first five months of its existence; FanDuel has taken over, doing the same in each of the past four months.

Interestingly, in terms of lifetime revenue, the race is tight:

  • Meadowlands (FanDuel, PointsBet): $57,651,167
  • Resorts (DraftKings, BetStars, Resorts Sports): $57,188,476

NJ sports betting revenue breakdown

Here’s a closer look at the New Jersey sports betting revenue numbers by retail operators and their online partners:

Property (Online)Online RevenueRetail RevenueMay Total
Bally's (Caesars, 888)$235,674$119,583$355,257‬
Borgata (playMGM, Borgata Sports)$119,054$50,768$169,822
Golden Nugget (BetAmerica, GN Online)-$16,957$46,688$29,731
Hard Rock (Hard Rock online)-$39,064$135,167$96,103‬
Meadowlands (FanDuel, PointsBet)$7,865,591$796,469$8,662,060‬
Monmouth (William Hill, SugarHouse)$817,499$537,593$1,355,092‬
Ocean Resort (William Hill)$625,785-$21,891$603,894‬
Resorts (DraftKings, BetStars, Resorts Online)$4,103,394-$12,138$4,091,256
Tropicana (William Hill)$8,583$97,471$106,054‬

Online dominates, and still more to come

As the story has gone since September 2018, online sports betting in New Jersey has carried the load for the state’s industry. In 2019 alone, mobile products have accounted for nearly 80% of all wagers made in the Garden State.

The state offers a wide array of online sportsbooks, as 14 platforms exist in New Jersey.

Yet that group will expand soon.

Joe Lupo, president of Hard Rock Atlantic City, told NJ Gambling Sites last week that two of his property’s online skins, Unibet and Bet365, could enter the scene in the near future.

“We hope to see Unibet here pretty soon,” Lupo said. “I will just say, in the next 30 days. And we hope to see Bet365  before football season.

Unibet has already opened up shop in New Jersey, launching its online casino earlier this month to become the 21st online casino in New Jersey.

Add in TheScore, which continues to note a pending launch for its sportsbook, and the online sports betting scene in the state should include three new skins before football season.

Clearly, there is no restraint on NJ sports betting.

Raptors Soar High, Flip NBA Finals Odds In Their Favor At NJ Sportsbooks

The Toronto Raptors have managed to turn the 2019 NBA Finals odds at NJ sportsbooks completely around by taking a 3-1 lead over the Golden State Warriors.

The Toronto Raptors have taken a commanding 3-1 lead over the Golden State Warriors in the 2019 NBA Finals.

The NBA’s lone Canadian team is just one win away from the franchise’s first NBA Championship. Plus, it has managed to flip the 2019 NBA Finals odds completely around.

The defending champion Warriors are making their fifth straight NBA Finals appearance. Obviously, that made the Warriors heavy favorites to win when the series started.

Not much changed when the teams split the first two games in the best-of-seven series in Toronto. However, the Raptors won Game 3 in Oakland and woke up the next morning as favorites to win the title for the first time.

Raptors suddenly massive favorites

Then, the Raptors won Game 4 in Oakland on Friday night to take a 3-1 lead. Toronto suddenly became massive favorites to win it all at New Jersey’s top sports betting apps.

Here’s how the 2019 NBA Finals odds look now at DraftKings SportsBookFanDuel Sportsbook, and BetStars NJ:

NBA FinalsDraftKingsBetStars FanDuel
Golden State Warriors +425 (Opened at -315)+450 (Opened at -333)+400 (Opened at -330)
Toronto Raptors-590 (Opened at +250)-550 (Opened at +235)-530 (Opened at +270)

It’s certainly not over yet. However, anyone who bet the Raptors to win the 2019 NBA Finals at the opening odds must be feeling pretty good.

In fact, the odds on the Warriors to win have gone up so high, anyone who bet on the Raptors can now guarantee themselves a profit by hedging their bet.

In other words, they can now lock in the long odds available on the Warriors to win. That way, they’ll make money no matter what happens.

Game 5 NBA Finals odds

Of course, they can also bet on Game 5 of the series at these and other NJ gambling sites. Game 5 will play out in Toronto on Monday night beginning at 9 p.m. ET.

Injured Warriors star Kevin Durant had his status upgraded to questionable for Game 5. Durant has not played in more than a month.

However, the Raptors are still home moneyline favorites.

Here’s how moneyline odds looked for Game 5 on Monday morning:

NBA Finals Game 5DraftKingsBetStarsFanDuel
Golden State Warriors+104+105+102
Toronto Raptors-124-125-120

NBA Finals MVP odds

The Warriors are hopeful Durant will return and help turn the tide in the series.

So far, Toronto’s Kawhi Leonard has been the difference maker for the Raptors. The updated NBA Finals MVP odds definitely reflect that.

When the series opened, two-time NBA Finals MVP Durant was on the sideline. As a result, Warriors guard Stephen Curry was the moneyline favorite to win the award.

Since Leonard has the Raptors one win away from a championship, he’s now the heavy favorite to be named MVP.

He’s also averaging 30.8 points, 10.3 rebounds, and 4.0 assists per game in the series.

Here’s how the updated NBA Finals MVP odds looked on Monday morning heading into Game 5:

NBA Finals MVPFanDuelDraftKingsBetStars
Stephen Curry+450 +450 -150
Kawhi Leonard-650 -500 -550
Kevin Durant+3300+2500 +3300
Draymond Green+3300+5000+5000
Klay Thompson+6300 +8000 +5000
Kyle Lowry+7000 +5000 +2200
Pascal Siakam+3300 +2000 +3300

If the Warriors can win Game 5, the teams will head back to Oakland for Game 6 on Wednesday, June 13. Golden State would also have to win Game 6 to force a seventh and deciding game. It will go off in Toronto on Sunday, June 16 if it is necessary.

NJ Sportsbooks Still Put Boston In The Driver’s Seat For The Stanley Cup Title

NHL’s Stanley Cup Finals heads to Game 4, but a look at the Stanley Cup Finals odds at NJ sportsbooks show Boston is still the favorite over St. Louis.

The NHL’s Stanley Cup Finals have been a back and forth series through three games. However, a convincing win in St. Louis on Saturday has put Boston back in the driver’s seat.

Thanks to a 7-2 drubbing of the Blues, the Bruins now lead the series 2-1 heading into Game 4 on Monday, June 3 at 8 p.m. EST in St. Louis.

As a result, oddsmakers at the top three NJ sports betting operators are once again making Boston the heavy favorites to win the cup.

Stanley Cup Finals odds

This is what the Stanley Cup Finals odds look like at DraftKings SportsBookFanDuel Sportsbook and BetStars NJ heading into Monday’s Game 4:

Stanley Cup FinalsDraftKingsBetStars FanDuel
Boston Bruins-335-400-300
St. Louis Blues+265+280+245

The Bruins were big moneyline favorites to win the cup even before the Blues beat the San Jose Sharks in the Western Conference Finals to move on to the franchise’s first Stanley Cup Finals in almost 50 years.

The Blues are up against almost impossible odds. St Louis is the oldest active team in the NHL never to win the Stanley Cup. The last time the team was even close was when they lost three straight Stanley Cup Finals in 1968, 1969 and 1970.

In the meantime, Boston has won the coveted Stanley Cup six times. The last time was in 2011.

Plus, a Boston win would give the city the title in three of the four major US sports leagues. The Red Sox won the last MLB World Series and the hometown New England Patriots won the Super Bowl in February.

The Boston Celtics bowed out early from the NBA Playoffs, eliminating the city’s chances of winning all four major sports championships.

NHL Finals Game 4 moneyline

Regardless, this plucky Blues team isn’t making it easy on the Bruins.

St Louis won Game 2 in Boston in overtime last week. Plus, they still enjoy the home-ice advantage for Game 4 on Monday.

As a result, the top three online and mobile sportsbooks in the state have made St. Louis the ever-so-slight moneyline favorites to win Game 4 and tie up the series 2-2.

Here’s a look at the Game 4 moneyline odds:

NHL Finals Game 4DraftKingsBetStarsFanDuel
Boston Bruins-107-105+100
St. Louis Blues-114-118-120

Regardless of what happens in Game 4, the teams will head back to Boston for Game 5 on Thursday, June 6 at 8 p.m. EST.

If necessary, they’ll head back to St. Louis for Game 6 on Sunday, June 9 at 8 p.m. If the series gets that far, Game 7 will be in Boston on Wednesday, June 12 at 8 p.m. EST.

All of the remaining games will be televised on NBC here in the US.

Expect oddsmaker to adjust the lines from game to game. However, Boston should remain the favorites to win the series at these and other NJ gambling sites.

Unless St. Louis can turn things around immediately, win the next two games, and head into Game 6 with a chance to close out the series at home.

Raptors Vs. Warriors: In The Battle For The 2019 NBA Title, Who Has The Better Odds?

The 2019 NBA Finals are set. The Toronto Raptors will take on the defending champion Golden State Warriors. Here’s a look at the odds at NJ sportsbooks.

The 2019 NBA Finals are set, and you can now bet on the action in a variety of simple and easy ways through New Jersey’s top sports betting apps.

The Toronto Raptors will take on the defending champion Golden State Warriors in the best-of-seven series. It’ll all get started with Game 1 on Thursday, May 30. Tip-off is at 9 p.m. ET in Toronto, Canada.

All the games will air on ABC affiliates here in the US.

The Raptors are Canada’s only NBA team and this marks the franchise’s first trip to the NBA Finals.

In contrast, this is the Warriors fifth straight NBA Finals. Golden State has captured the title three out of the past four years.

As a result, the Warriors are clear favorites to win the series at the top three NJ sports betting apps.

2019 NBA Finals odds

This is what the opening odds on both teams to win the NBA Finals were at DraftKings SportsBook, FanDuel Sportsbook, and BetStars NJ on Monday:

NBA FinalsDraftKingsBetStars FanDuel
Golden State Warriors-315-333-330
Toronto Raptors+250+235+270

These top NJ sportsbooks are also taking bets on Game 1 itself.

The opening Game 1 odds posted by these NJ gambling sites represent a rarity in the sports betting industry. Both teams are actually moneyline favorites.

That means you’re going to have to bet more than $100 to win $100 on either team when you bet the Game 1 moneyline.

You still pick an outright winner and get paid according to the odds posted at the time you place the bet if they win. However, if you book a bet at these opening odds, you’ll have to wager somewhere between $102 and $118 to win $100 plus your bet back.

Raptors-Warriors Game 1 odds at NJ sportsbooks

This is what the opening Game 1 moneyline odds at the top three online and mobile sportsbooks in the state looked like:

NBA Finals Game 1DraftKingsBetStarsFanDuel
Golden State Warriors-107-105-102
Toronto Raptors-110-118-114

More NBA Finals bets

These NJ sports betting operators are also offering gamblers the opportunity to increase the payout on a series bet if they can pick the exact series score.

The Raptors to beat the Warriors in four straight opened at +4000 on BetStars. Think it’ll go seven and the Warriors will three-peat? DraftKings is paying +550 on the Warriors to win it 4-3.

FanDuel Sportsbook even has lines posted on the correct series score after the first three games. This market opened with the following odds:

  • Golden State 2-1 (+116)
  • Raptors 2-1 (+210)
  • Golden State 3-0 (+370)
  • Raptors 3-0 (+1320)

NBA Finals MVP odds

Golden State will begin the series with two-time NBA Finals MVP Kevin Durant sitting out with an injury.

That means the NBA Finals MVP award is likely up for grabs.

Most NJ sportsbooks are also taking bets on who will win the award this year. Warriors guard Stephen Curry is the moneyline favorite right now, but that could change as the series moves on.

This is what the opening odds in the NBA Finals MVP market looked like at FanDuel and DraftKings:

NBA Finals MVPFanDuelDraftKings
Stephen Curry-167-143
Kawhi Leonard+245+250
Kevin Durant+1600+900
Draymond Green+700+900
Klay Thompson+2300+2000
Kyle Lowry+7000+2500
Pascal Siakam+6300+4000

And when the NBA Finals continue?

The NBA Finals continue with Game 2 in Toronto on Sunday, June 2. The Game 2 tip-off is set for 8 p.m. ET.

Game 3 and Game 4 are in Oakland on Wednesday, June 5 and Friday, June 7.

If necessary, the two teams will go back to Toronto for Game 5 on June 10. Then, Game 6 will be in Oakland on June 13 and Game 7 in Toronto on June 16.

To be fair, NJ sports betting apps will post new odds for Game 2. Plus, each will adjust the odds in the futures markets based on several factors. These factors include:

  • Who wins Game 1
  • Who will play in Game 2; and
  • Which sides are seeing the most action

Therefore, you’re going to want to check the odds between games to see if anything has changed. Plus, continue to shop around for the best price on a bet as the NBA Finals continue.

Are The Golden State Warriors Too Big Of A Favorite To Bet At NJ Sportsbooks?

The Golden State Warriors are such heavy favorites to win the NBA Western Conference Finals, some NJ online sportsbooks won’t allow you to bet on them.

The Golden State Warriors are now such heavy favorites to win the NBA Western Conference Finals some New Jersey sports betting operators won’t even allow you to bet on them.

Warriors star and two-time NBA Finals MVP Kevin Durant remains out with an injury. However, the Warriors still managed to take a 3-0 lead in the best-of-seven Western Conference Finals series over the Portland Trail Blazers on Saturday.

Game 4 will go off in Portland on Monday.

The defending champion Warriors will be looking to sweep the series and move on to a fifth straight NBA Finals. The Warriors have won the NBA title three of the past four years.

The odds on the Warriors

The odds on the Warriors to win the NBA Western Conference Finals have grown exponentially since the series started.

Even a small bet on the champs to win the series over the Blazers will likely exceed betting limits now.

Here’s a look at the current odds on the Golden State-Portland series at the top three NJ sports betting apps:

NBA Western Conference FinalsDraftKingsFanDuelBetStars
Portland Trail Blazers+6600+6500+5000
Golden State WarriorsN/A-20000-100000

The odds on the Warriors to win the series are so high that DraftKings Sportsbook isn’t even posting them. And over at BetStarsNJ, the lines are posted at –100000, which means a bettor would need to bet $100 to win 10 cents.

To be fair, a miracle comeback by the Trail Blazers could ruin someone betting on the Warriors at those lofty odds.

Huge favorites also mean massive underdogs. So, there’s a huge payday awaiting anyone who bets on the Trail Blazers to win. That is if they can complete that miracle comeback.

Of course, they’ll have to do what no team has ever done and come back from a 3-0 series deficit to win in the NBA Playoffs.

NBA Eastern Conference Finals odds

In the meantime, things are tightening up over in the NBA Eastern Conference Finals.

The Toronto Raptors lost the first two games in Milwaukee.  Sunday, the Raptors won a double-overtime thriller at home.

The Milwaukee Bucks still enjoy a 2-1 lead heading into Game 4 on Tuesday. In fact, the series odds at two of the top three NJ sports betting apps reflects that.

Here’s how the odds look at DraftKings, FanDuel and BetStars:

NBA Eastern Conference FinalsDraftKingsFanDuelBetStars
Toronto Raptors+450+430+450
Milwaukee Bucks-625-650-650

Who will win the 2019 NBA Finals?

The Warriors have been favorites to win a fourth NBA Championship in five years in the futures market all season.

The 3-0 Western Conference Finals lead the team has built has only increased the amount of money bettors must lay on the Warriors to win.

Here are the odds for the NBA Finals futures from the top NJ online sportsbooks:

NBA ChampionsDraftKingsFanDuelBetStars
Toronto Raptors+1300+1000+1400
Milwaukee Bucks+200+195+200
Portland Trail Blazers+15000+15000+12500
Golden State Warriors-225-210-225

The real value right now appears to be on the Raptors. That is if you believe it is Toronto’s year.

In the meantime, the Trail Blazers are going to have to do a lot more than just win Game 4 to impact the odds on the Warriors going to the NBA Finals and win it all.

A series-tieing win by Toronto in Game 4 of the Eastern Conference Finals will undoubtedly have more of an impact on the rest of the NBA Playoffs odds.

Keep a close eye on the games and the odds to see if there’s even more value to be found as the NBA Playoffs continue.

DraftKings Reflects On A Robust Start In NJ Sports Betting Since PASPA’s Fall

More than 17 million bets and half a billion in payouts later, DraftKings Sportsbook reflects on the PASPA ruling that paved the way for NJ sports betting.

Today is a day for celebration at DraftKings.

It’s exactly one year to the day that the US Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA).

The 1992 law was deemed unconstitutional. Once it was out of the way, sports betting got the green light across the US. New Jersey became ground zero for the burgeoning market.

Twelve months later, the DraftKings Sportsbook app has enjoyed some robust business in the Garden State.

DraftKings Sportsbook app since launch

Jamie Shea, DraftKings head of digital sportsbook, shared some mind-blowing numbers with NJ Gambling Sites on Tuesday:

  • Number of bets taken since launch: About 17 million
  • Total payouts since launch: Over a half billion
  • Mobile betting makes up more than 85 percent of NJ revenue

Keep in mind, this first-to-market app didn’t launch until Aug. 6 of last year. And since then, the market has ballooned to 14 apps and 10 retail.

That being said, DraftKings has been the leader, if not No. 2, in NJ online sports betting.

Looking back with DraftKings

So the mood at the Boston-based headquarters is pretty upbeat. Shea explained:

“Last January we were deciding if this is the path we were going to take. We said ‘absolutely yes.’ We wanted to give our customers the best US experience.”

DraftKings, like FanDuel Sportsbook, comes from the daily fantasy sports world. But according to Shea, entering the NJ sports betting market seemed like a “natural flow.”

The company took the best of what the established Nevada and European sports betting markets had to offer.

And once the gates opened, the ball got rolling and has not stopped.

Celebrating the PASPA decision

New Jersey customers are celebrating with a DraftKings party.

Why? Because this is a historic occasion. Besides being the Garden State’s first mobile sports betting app, it was the first to launch outside of Nevada.

So for DraftKings, this day is known as Free to Bet Day. The free bet amount of $5.14, of course, coincides with the date. But special odds boosts are also part of the celebration.

From Jason Robins, DraftKings co-founder, via a press release:

“The Supreme Court’s decision led to a crucial period of rapid growth and development at DraftKings … but none of our success in this first year of legalized betting would have been possible without our incredible customers.”

Shea said customers are taking advantage of this single-day offer. The most popular pick? The odds boost on the Golden State Warriors to win the NBA title. It was paying -154 and is now boosted to +514.

Shea said as of early afternoon more than $3,000 in bets have come in on the defending champs.

In golf betting, the big question everyone wants to answer is will Tiger Woods win this weekend’s PGA Championship? The odds on that wager have been boosted to +1500.

And speaking of the 2019 Masters champ, DraftKings, like other sportsbook operators, looks forward to rewarding its customers. That includes paying out more than $1.5 million for Woods’ victory at Augusta.

“It’s good for everyone,” Shea said.

“If you get punched in the face three times you are not going to get back in the ring again. We want our customers to have the best time and experience when betting with us.”

And speaking of NJ sports betting revenue

This anniversary celebration just happens to fall on the same day as April revenue numbers release. The New Jersey Division of Gaming Enforcement announced the latest figures on Tuesday afternoon.

The numbers made a splash to the tune of a $313 million in handle.

DraftKings sits solidly in the No. 2 spot again. But like the previous months, FanDuel and DraftKings continue to dominate the market, leaving little for everyone else.

Resorts Digital (consisting of DraftKings, BetStars NJ, and Resorts NJ sportsbook) reported $4,766,701 in revenue.

Only Meadowlands Racetrack (FanDuel and PointsBet NJ) fared better.

DraftKings + growth opportunities

So it’s clear DraftKings knows how to succeed in a mobile sports betting world.

But the company is not about to slow down in the growth department. In employees alone, Shea said the company has more than doubled in size. And that’s just in the past year.

With DraftKings Casino integrated into the sportsbook platform, the app has designs on more than just sports. It’s possible it will start taking a larger chunk out of NJ online gambling, too.

But the addition makes sense, said Shea. And you can expect things to remain the same as the app’s one-year anniversary approaches.

Shea said DraftKings will continue pushing what’s working:

  • Really good promotions
  • Listening to customers
  • Offering something exciting

And listening to customers includes making changes.

One that could come as early as next month is eliminating the sign-in process to view the odds. It’s currently the lone platform in NJ that requires a username and password prior to checking out the odds board.

New Jersey + the rest of the US

But what is working in New Jersey may not work in other states, said Shea.

One year later, DraftKings is preparing to enter any and all states that pass legal sports betting legislation and to which they have an invite. It already has a retail book in place in Mississippi and is eyeing a launch in West Virginia.

But who’s on deck?

TennesseeIowaIndiana, and Montana are just a handful of states where the company could launch in the near future.

Shea is not at liberty to discuss those plans just yet. But like creating the DraftKings sports betting app, the company is thinking big.

“We plan to be in every state we can be in.”

And without the Supreme Court overturning PASPA, all of the above would be a dream.