The New Jersey Division of Gaming Enforcement has released its latest monthly revenue report revealing that the NJ licensed sportsbooks reported a sports betting handle of $766,888,420 for the month of June. This marks a 5.8% drop on May’s handle of $814,270,654.
Despite the lower overall handle, sports wagering revenue grew by 34.5% month-on-month to $71,267,544. June’s revenue figures also mark a 463.8% increase on June 2020’s figures when the sport wagering industry was in the midst of a huge downturn as a result of the global pandemic.
Online sportsbooks reported a mobile wagering handle of $683,020,655 down 7% on May’s online handle of $734,654,926. Online bets accounted for 89% of the overall handle. Meanwhile, retail sportsbooks reported a handle of $83,867,765 up 5.2% from May’s retail handle of $79,615,728.
Sports wagering gross revenue for the month totaled $71.3M bringing the year-to-date total for the first six months of the year to $368.3M. Sportsbook operators paid $682,465 in sports wagering taxes at 8.5% while internet sports wagering taxes (taxed at 13%) amounted to $8,050,300. This gives a grand total of $8,732,765 in sports wagering taxes paid to the state during the month of June.
Basketball remains the most popular sport for NJ gamblers in 2021 with a year-to-date sports betting handle of $1,671,601,220 resulting in a win total of $61,205,937. Baseball comes next on the list with a year-to-date handle of $514,902,346 resulting in a win total of $20,873,919.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.