New Jersey sports betting for April rebounded nicely year-over-year after the COVID-19 pandemic rocked the sports world in 2020.
The handle is well below the December 2020 all-time high of $996.3 million, but a world away from last April when COVID-19 shutdowns limited the handle to $54.6 million.
NJ sports betting revenue nears $250M on year
Operators generated $54.8 million in revenue, a 7.3% hold. The state collected $6.8 million in taxes on April, with another $1.3 million collected in local taxes.
New Jersey gross sports betting revenue hit $244.2 million for the first four months of the year.
Mobile made up 91% of the sports wagering totals in the month.
FanDuel maintains market dominance
The Meadowlands and partners FanDuel and PointsBet paced the crowd, combining for $29.1 million in revenue. At least 90% of that belongs to FanDuel.
Superbook USA will launch next month on the Meadowlands license as well.
Resorts Digital brought in $12.4 million in revenue with its partners DraftKings and FOX Bet. Again, DraftKings reportedly books upward of 90% there too.
A distant third was Borgata and BetMGM, with $6.8 million.
Rest of the online operators
- Monmouth Park (William Hill, SugarHouse, theScore): $2.4 million
- Ocean (William Hill, Tipico): $1.8 million
- Hard Rock (Hard Rock, bet365, Unibet): $1.5 million
- Golden Nugget (Golden Nugget, BetAmerica): $443,004
- Tropicana (William Hill): $227,902
- Caesars (Caesars, 888, WynnBET): -$214,827
Basketball top among sports in New Jersey
With the NCAA tournament finishing up with the Final Four in April, basketball was the top sport.
New Jersey operators won nearly $7 million on basketball bets in April. The state does not allow wagering on in-state teams, meaning Rutgers did not factor in.
Parlays accounted for more than $30 million in wins.
What’s next for New Jersey?
March might have been the last major month for a while for New Jersey. The March handle reached $859.6 million, still below the more than $900 million last reached in January.
Depending on how sports betting in New York rolls out mobile, New Jersey’s monopoly on online share in the massive market could come to an end. Gov. Andrew Cuomo signed the fiscal 2022 budget into law in April, which included mobile sports betting.
Sen. Joe Addabbo Jr. has placed the Super Bowl as a hopeful benchmark to launch mobile sports betting in NY.
More than 18% of New Jersey’s 2019 handle came from the New York market, according to Eilers & Krejcik Gaming. Other estimates place it as high 25%.