First month of sports betting in New Jersey brought in nearly $4 million in revenue

sports bettor new jersey generate more than $3.8 million Total revenue for a group of five operators running sportsbooks in July.

of Game Control Division will release its monthly report on Tuesday, providing the second update since NJ sports betting launched in June. The first report only covered 17 days, so the July data represents the first month of revenue.

An Overview of New Jersey Sports Betting Earnings

Earlier reports included revenue from just three retail sportsbooks, but that number has since grown to five.first ever FanDuel Sportsbook opened on July 14, and Bally’s caught the end of the report with a July 30th opening.

The monthly magazine features five terrifying operators.

property Earnings in July Earnings in June year-to-date earnings
Bally’s $17,788 none $17,788
Borgata $562,830 $986,831 $1,549,661
Meadowlands $1,357,477 none $1,357,477
Monmouth Park $856,280 $2,279,166 $3,135,446
Ocean Resort Casino $1,036,766 $192,671 $1,229,436
total: $3,831,141 $3,458,688 $7,289,808

Note: Earnings are what is left after the sportsbook has paid for the winning tickets, i.e. gross profits. The handle refers to the total amount of all bets.

Although the handle is not itemized in the data, we can infer the July total from the DGE data. $40,682,237Adding this to June’s figure ($16,409,619) gives a rolling handle of $57,091,856 through July 31st.

NJ’s report Nevada Sports betting in that unpaid tickets are included as earnings for the current month. However, DGE separates these bets. 5.8 percent Roughly on par with Nevada’s historical average.

new jersey sports betting earnings

main point

Attempting to read these numbers comes with a number of well-known caveats. These were still the early days of sports betting in New Jersey, and online/mobile betting was not yet available at the time of the report.

However, some things can be removed.

First, it’s clear that the honeymoon phase is over Monmouth ParkTaking the lead early in June, the first day was packed with crowds.But as competition fills up, bettors seem to be traveling less ocean portEarnings from track sports betting are 60 percent Despite nearly doubling the number of working days, in July

Another racetrack in New Jersey dominated the market.

Meadowlands We opened our FanDuel branded sportsbook in mid-July, offering the most convenient options new york city residents. This property quickly led the market, $1,357,477 July revenues accounted for more than a third of statewide income.

Comparing the daily earnings of the five operators reveals a clear disparity.

  • Meadowlands: $75,415
  • Ocean Resort: $33,444
  • Monmouth park: $27,622
  • Borgata: $18,156
  • Bally’s: $8,894

or Borgata The numbers are particularly disappointing considering it’s by far the top earner Atlantic City casino. For now, we can only offer a temporary sportsbook in the corner of the building that used to be a dedicated racebook.

what to expect in august

The August report includes at least two additional retail sportsbooks.

Harrah’s opened its facility at the beginning of the month, just two days after Bally’s.both casinos own Caesarsformed a new partnership with science games Empowering New Jersey operations.

Resorts AC also announced that it will open a sportsbook this week. This brings the count to 7.resort uses SB Tech We offer an in-house platform and have brand partnerships with both draft kings When betstars.

Speaking of partners, virtual space partners will also be very important in the August report.

Online and mobile betting is now live thanks to DraftKings Sportsbook, to create a new category of earnings.products launched in Aug. 1and it is still the only online/mobile sportsbook on the market in New Jersey.

It’s also worth noting that July is the leanest month on the US sports calendar. Baseball is the only one of his four major sports to have a season in the summer, and sports betting earnings reflect a lull. August report captures early preseason NFL This could mark the beginning of a months-long surge.

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