According to the latest monthly revenue report released by the New Jersey Division of Gaming Enforcement, the state’s licensed retail and online sportsbooks posted a combined handle of $814,270,654 for the month of May. The latest figures mark an 8.1% jump on April’s handle of $748M.
Revenue dropped by 3% month-on-month to $52.9M with operators’ hold rate dropping from 7.3% in April to 6.5% in May.
The latest report also reveals that online sportsbooks continue to dominate the market with over 90% of all bets placed online for a mobile handle of $734,654,926, up 7.3% from April’s mobile handle of $681.2M.
Retail Sportsbooks posted a handle of $79,615,728. This brings the year-to-date total handle for bricks and mortar sportsbooks to $351.6M.
FanDuel at Meadowlands was the market leader generating over 65% of all New Jersey sports betting revenues for the month.
Baseball replaced basketball as the most popular sport amongst gamblers attracting $326M in wagers for the month. The NBA brought in $217M in wagers for a year-to-date total handle of $1.4B for wagers on both the NBA and college basketball. Parlay bets made up $81M of the total sports betting handle for a year-to-date total handle of $924.5M.
Total gaming revenue grew by 6.9% to $374.2M generating $37.9M in state taxes.