New Jersey Sportsbooks See $900 Million Wagered In April

New Jersey’s streak of $1 billion betting handle months comes to an end in April 2022 as sportsbooks raked in $926.9 million.
The betting handle is actually up 23.9% compared to April 2021 but revenue is slightly down 8.2% year over year, however.

TRENTON, N.J. – New Jersey continues to see major success with its sports betting market although April 2022 saw slight dips in activity.

While this is the lowest sports betting handle since August 2021, New Jersey sportsbooks still reported $926,946,780 wagered in April. This is down 17.3% from March’s $1,120,904,954 in betting handle.

New Jersey Sportsbooks See Yearly Growth

While the betting handle may have dipped compared to last month, the year-over-year growth is notable. The report shows that sports betting activity is up 23.9% compared to April 2021.

This growth is notable because of early fears that New Jersey would see a decline in activity following New York launching mobile sports betting. The fact that NJ has continued to thrive shows that its market has been unaffected by New York’s success.

Interestingly, sports betting revenue is down 8.2% year over year, but this is due to a 5.4% hold rate in April 2022 compared to a 7.3% hold rate in April 2021. Sportsbooks saw $50,345,808 in sports betting revenue.

Parlays And Mobile Dominate The Market

Of the over $900 million wagered in April 2022, $863,143,698 came from mobile sportsbooks. This is 93.1% of the entire market for the month. New Jersey consistently sees more than 90% of its market dominated by mobile sportsbooks and April is no different.

Another trend that is consistent in April is parlay betting dominating the market. More than $130 million in bets came from parlays with sportsbooks seeing a 15.3% win percentage.

Industry Completed Events Win and Handle Statistics Breakdown by Sport

Sporting Event	Completed Events, YTD Sports Wagering Win	YTD Completed Events Handle	Win%
Football:	$8,976,756	$437,206,677	2.1%
Basketball:	$25,901,632	$2,047,600,330	1.3%
Baseball:	$5,299,607	$181,827,068	2.9%
Parlay:	$134,828,624	$878,428,483	15.3%
Other:	$31,094,052	$846,803,541	3.7%
Total:	$206,100,671	$4,391,866,099	4.7%

New Jersey continues to thrive as a major leader in the legal sports betting arena even as the market sees dips in April.

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Giovanni Shorter

Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.