NJ Sports Betting Market Sees New Revenue Leader In June

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NJ sports betting

NJ sports betting revenue posted year-over-year gains in June, with operators clearing $62.1 million. It is a 73% increase over the $45 million in revenue from June last year.

According to figures recently released by the New Jersey Division of Gaming Enforcement, Resorts Digital Gaming, headlined by DraftKings, led all operators in revenue at $25.3 million.

It is a 34% bump from the $18.9 million in revenue it produced in May.

It is also the first time since January 2019 that Resorts produced more monthly New Jersey sports betting revenue than Meadowlands Racetrack, which is highlighted by FanDuel.

Two take most NJ sports betting revenue

The three operators under the Meadowlands umbrella ended June with $24.9 million in combined revenue, down from $43.8 million the month before.

Despite the 39% drop in monthly revenue, Meadowlands Racetrack still controlled 40% of the revenue market. Resorts Digital Gaming took 41%. In June, both licensees combined for more than 80% of revenue from sports betting in NJ.

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.

Year-over-year handle drops in June

Sports betting in NJ accounted for $591 million in June bets. It is a nearly 7% decrease from June 2022, when Garden State bettors spent $633.1 million.

New Jersey has seen its year-over-year handle decline in 12 of the last 13 months, as the burgeoning New York market cuts into activity. May was the only month in the previous year to experience a year-over-year increase in handle.

Sportsbooks posted a June hold above 11% for the first time since September 2022. Operators in New Jersey win, on average, 7.2% each month.

The state collected $9.2 million in taxes for June.