Last updated on February 13th, 2025 at 02:55 pm
New Jersey sports betting slows down in June. The state’s handle joined the national downward trend. However, retail and online sportsbooks improved their revenue by 9.3 percent to $71 million. It was a good result considering the sports betting industry suffered a slowdown in summer.
According to sports betting platform reports, online and retail sportsbooks took in $767 million in wagers in June. That is down 5.8 percent from $814 million in May. Also, it was up from $118 million in June 2020.
June’s activity yielded $71 million in net gaming income, the most in administrator income since sportsbooks posted a record $83 million in January. Administrator income was up 34.7 percent from $53 million in May and up dramatically more than $13 million in June 2020.
New Jersey Sports Betting Handle
According to pay per head sportsbook sources, June’s wagering yielded $11 million in state and nearby assessments.
March acquired the highest wagering volume in US history, with $4.6 billion in legal wagers put across the US. However, with no football or wagering occasion like March Madness, the US handle tumbled to $3.7 billion in the two April and May. That is a 19.6 percent drop from March’s high. Be that as it may, New Jersey’s volume has beaten the remainder of the US, down 10.8 percent in June from $860 million in March.
June saw $191 million in basketball-related wagers, effectively much of any game during the month.
In the interim, retail sportsbooks kept on profiting with releasing limitations with $84 million bets in June, up from $80 million in May. In addition, Meadowlands/FanDuel drove all retail books with $6.4 million in income in June.
The most developed US market other than Nevada, New Jersey ought to imbue new brands, including a potential Sports Illustrated-marked application. After SI and 888 Holdings declared an arrangement to make an application that could dispatch in different business sectors. Thus, SI is trying to learn how to be a successful bookie via 888.
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