New Jersey’s online and retail sportsbooks rejoined the national trend of declining betting volume in June. But a hold of 9.3% pushed revenue at sportsbooks to more than $71 million, a remarkable result that blunted the effects of any summer slowdown, according to PlayNJ.
“Overall, New Jersey continues to perform far better than every other sports betting market in the U.S.,” said Dustin Gouker, analyst for the PlayUSA.com Network, which includes PlayNJ.com. “No market can completely overcome a lack of betting inventory, but New Jersey’s sportsbooks continue to find ways to capitalize on what the sports world is offering, most notably the NBA Playoffs and baseball.”
Online and retail sportsbooks took in $766.9 million in bets in June, according to official data released Friday. That is down 5.8% from $814.3 million in May, but up from $117.8 million in June 2020.
June’s action yielded $71.3 million in gross gaming revenue, the most in operator revenue since sportsbooks posted a record $82.6 million in January. Operator revenue was up 34.7% from $52.9 million in May and up exponentially over $12.6 million in June 2020.
June saw $190.9 million in basketball-related bets, easily the most of any sport during the month.
89.1%, or $734.7 million, of June’s handle came through an online operator. FanDuel Sportsbook/PointsBet commanded the market lead once again with $38.1 million in gross revenue, up from $29.8 million in May.
Meanwhile, retail sportsbooks continued to benefit from loosening restrictions with $83.9 million wagers in June, up from $79.6 million in May. Meadowlands/FanDuel led all retail books with $6.4 million in revenue in June.
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