New Jersey Sportsbooks Reach Milestones With July Sports Betting Report

• New Jersey posted their lowest handle since September 2018, just eclipsing the $250 million mark.
• The Meadowlands was responsible for $9.1 million of the collective $17.88 million in sportsbook revenue for the state during July.
• July’s sports betting revenue in New Jersey helped send $2.15 million to the state in the form of tax contributions.

ATLANTIC CITY, N.J. – The New Jersey Division of Gaming Enforcement released the sports betting numbers in New Jersey for July.

The total betting handle reached $251.4 million – the lowest since September 2018. Almost 85% of the betting action came through online platforms, which is slightly above but in line with the New Jersey average of 80%.

With $213.0 million entered into the books in their mobile sportsbooks, roughly $38.3 million was taken in by bettors in person.

Despite one of the lower betting handles, the sportsbooks’ revenue finished near the middle of the pack as far as monthly totals. For July, the sportsbooks in New Jersey kept $17.88 million, posting a 7.11%-win percentage – the highest since September 2018 when it nearly reached 13%.

This total was slightly higher than the previous 12-month revenue average ($16.97 million) but the state would be nowhere without the presence of The Meadowlands.

Mainly through their online platforms, FanDuel and PointsBet, The Meadowlands was responsible for 50.8% of the entire state’s revenue. The $9.1 million in revenue marked the fourth time this venue has kept at least $9 million – the most recent being April.

Because of The Meadowlands and the combination of the other New Jersey sportsbooks, the state saw over $2.15 million in taxes contributed to the government.

Milestones Of Other New Jersey Sportsbooks

Many of the sportsbooks reached a sizeable total revenue number since their launch during July’s reporting. For Bally’s Atlantic City, the sportsbook has seen $4 million in total revenue (since July 2018) with a near-even split between online and retail revenue. Likewise, Monmouth Park has taken in their revenue fairly evenly since their launch (June 2018) but they have officially collected over $25 million.

Tropicana joins this group as well, reaching the $1 million threshold since their launch (October 2018) but 95.6% of the revenue has come solely from their retail sportsbook. While Golden Nugget isn’t at a milestone marker in total revenue for the year or since their launch, the sportsbook posted their best monthly revenue ($223,722) since September 2018 ($1,118,444).

July was a popular month for retail betting, as Resorts Casino increased their land-based revenue by nearly 66% on the year. From $738,386, Resorts collected almost $545,000 in July, bringing their year-to-date land-based revenue above $1 million.

Continuing this trend, Borgata has now posted four months (of the previous five) where land-based revenue exceeded online. It is uncommon to see the online platforms be outshined; however, with Borgata’s sportsbook renovation, bettors seem more inclined to visit the casino and do their wagering in person.

Declines In Retail

However, not every sportsbook faired well on the retail side of things. Nearly every month, at least one sportsbook reports a negative revenue earning. This month, it happened to Ocean Resorts, who has posted a negative report three of the last four months. The book did make money on the month but found themselves over $59,000 short of their online revenue total because of land-based bettors.

Negative reports are inevitable in sports betting, and Hard Rock had posted back-to-back months of online revenue in the red. The sportsbook broke this trend during July, as they kept nearly $25,000 in revenue.

While not in the negative, Harrah’s continues to be the worst-performing sportsbook in New Jersey. The casino has yet to launch a mobile betting platform and has only collected $319,000 year-to-date in land-based revenue. Despite being the lowest total though, this was only the first time since January that Harrah’s reported the worst month of every NJ sportsbook.

News tags: Ballys AC | Borgata | FanDuel Sportsbook | Golden Nugget AC | Hard Rock AC | Harrahs AC | Monmouth Park | New Jersey | New Jersey Division of Gaming Enforcement | Ocean Resorts | PointsBet | Resorts AC | The Meadowlands | Tropicana AC