New Jersey sports betting handle reached nearly $834 million in April. It is a 19% decrease from March ($1.02 billion) and marks 12 consecutive months of declining year-over-year handle in the state.
Despite the drop in handle, revenue from NJ sports betting reached $72.3 million, a 43.6% increase from March ($50.3 million.)
According to figures recently released by the New Jersey Division of Gaming Enforcement, sportsbooks held 8.7% of all betting dollars last month, and the state collected more than $10 million in taxes.
Longest decline in NJ sports betting history
The year-over-year decline in monthly New Jersey sports betting handle is now at 12 consecutive months. LSR projections point to the launch of online New York sports betting as a primary contributor.
The last time New Jersey sports betting experienced a stretch of year-over-year declines in monthly handle was amid the COVID-19 pandemic. The Garden State saw four straight months of declines between March 2020 and June 2020.
However, revenue has been on the rise throughout most of that period. New Jersey reported $292.3 million in revenue in the first four months of this year, a 40.6% increase compared to $207.8 million to begin 2022.
Handful of books drive majority of revenue
Five sportsbooks combined for more than 80% of New Jersey sports betting revenue for April.
Resorts Digital Gaming, which includes DraftKings and Fox Bet, generated $20.24 million in revenue, down more than $10 million from March.
New Jersey does not break down revenue figures by individual sportsbooks. Instead, the state combines up to three online operators under a single operating license tied to an Atlantic City casino or an authorized racetrack.