Per NJ.gov, the NJG DGE has released June betting revenue numbers.
- Sports Betting Handle – $273.2M
- Revenue – $9.7M (nearly tripled from last June)
- Completed Events Hold% – 4.7% (5.7% YTD)
- Mobile/Brick Mix – 83/17
What Does This Mean for NJ Sports Betting Go Forward?
Mobile sports betting in NJ is king. Over 80% of bets have been placed via mobile devices, making the state of New Jersey much more money than other states who have not enabled mobile betting yet.
Mobile betting is KING. The numbers have proven this time and time again over the last year, and June is no different. 83% is massive, and even crazier is that number is unchanged month to month.
FanDuel Sportsbook generated $2.7M in online revenue, which is over a quarter of the entire states handler for online revenue.
Yes, numbers are down compared to May, but that is expected with the NBA Finals ending, baseball losing it’s “new season” luster, and remember that nearby Pennsylvania has legalized online and mobile betting as well, so some travelers may not have done so in June.
A graphic that will illustrate this point from analyst Alfonso Straffon:
Year to Date Handle & Revenue Updates
On-Site (Retail) Sports Betting – $377.6M
NJ Online Sports Betting – $1.6B
Year-To-Date Internet Gaming Revenue By Operator
Golden Nugget – $78.64M
Borgata – $32.09M
Caesar’s Interactive – $28.01M
Hard Rock – $10.4M
Ocean Resort – $2.65M
Year-To-Date Sports Betting Revenue By Operator
Meadowlands (Racetrack) – $57.86M
Monmouth Park (Racetrack) – $10.57M
Resorts Digital – $29.4M
Ocean Resort – $6.39M
Bally’s AC – $2.02M
Borgata – $1.03M
Golden Nugget has done $175.5M in total gaming revenue so far in 2019. Of that, $78.6M has been internet gaming. That is the future, and a very, very important message to operators.
In June, Golden Nugget had $29.54M in total gaming revenue, $13.6M of that was internet gaming.
June Gaming Taxes: $23.8M
Year-To-Date Gaming Taxes: $136.5M
If you would like to read the entire release, check it out here via NJ.gov.
NJ SPORTS BETTING
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