Thin August Calendar Does Not Slow NJ Sports Betting Revenue

Written By

Updated on

NJ sports betting

Without top-shelf events on the calendar, NJ sports betting revenue could have reasonably fallen off in August.

We’re learning, though, that the monthly baseline for handle and revenue looks pretty strong in the Garden State. NJ sports betting neared $300 million in handle and generated more than $25 million in revenue in August 2019.

That 8.5% hold on a calendar thick with baseball and thin with football bodes well for New Jersey moving forward. The NFL and college football calendars kick off in earnest in September, portending the usual seasonal boost.

Building on a solid July in NJ sports betting

Sports betting in New Jersey produced more than a quarter-billion dollars in handle last month as well. July typically presents a rough spot for Nevada with mostly baseball, which typically attracts fewer casual bettors, on the board.

NJ sports betting outpaced Nevada sports betting for the second time in the brief history of the battle. The monthly horse race between the states does not present the full picture, however.

Building a robust New Jersey sports betting market is not hurting Nevada’s sportsbooks, at least not yet. The early trend indicates the pool of potential US sports betting customers can expand as sportsbooks proliferate.

Mo’ mobile, mo’ mobile, mo’ mobile in New Jersey

NJ sports betting apps proved popular right from the start of legal sports betting in the state last year. Just how ubiquitous can they become? We apparently have not reached the top yet.

Just less than 85% of all sports bets placed in New Jersey occurred on a mobile or online platform. That represents the highest share of mobile wagering since it began just more than a year ago.

In hard numbers, bettors wagered more than $249 million via mobile in August. The market reached a peak of 16 mobile New Jersey sports betting apps this month.