Garden State sportsbooks processed $633.2 million in bets in June, about 17% lower than in May and about 17% lighter than the year before, according to figures released Friday by the New Jersey Bureau of Gaming Enforcement. rice field.
A summer downturn has hit sports betting in New Jersey.
Garden State sportsbooks processed $633.2 million in bets in June, about 17% lower than in May and about 17% lighter than the year before, according to figures released Friday by the New Jersey Bureau of Gaming Enforcement. rice field.
New Jersey’s retail and online sportsbook handles June was the lowest monthly action volume for a state bookmaker since last July, when stakes reached $578 million.
Sports schedules have slowed down since the days of college basketball tournaments and playoff football, but with the launch of online sports betting in New York in January, operators in New Jersey may be feeling a bit of a pinch. The Garden State sportsbook has survived new competition, but the opening of such a huge adjacent market could finally take its toll on New Jersey’s steering wheel.
New Jersey sportsbook earnings are also down. The state’s sports betting income in June was $39.2 million, down nearly 45% year-on-year and down 36% from May. Also, as of the end of June, New Jersey’s sports betting revenue reached $308.7 million, down 16.2% from the previous year.
Operator hold was around 6.2% in June, down from an 8% win rate in May.
Uku no Summertime
As usual, Meadowlands Racing and Entertainment was New Jersey’s top sports betting licensee by revenue last month. The racetrack and its online sportsbook partners, his FanDuel, PointsBet and SuperBook Sports, made him $21.4 million in revenue that month.
It’s not uncommon for sportsbook business to slow down during the summer months, as the busy season is really just the regular season and playoffs of the National Football League.
However, the slowdown in sports betting in New Jersey came even as overall gaming revenue increased nearly 2% year-over-year to $401.5 million in June. This includes his 229.1 million won from bricks-and-mortar casinos and $133.1 from online games, the latter up 24.4% year-on-year.
Year-to-date handles for New Jersey sportsbooks were still around $5.8 billion at the end of June. Looking at completed events, the most-betted sport in the state is basketball, with $2.3 billion in bets placed on him so far this year.