New Jersey sports handle betting climbs to $665m in August

Sportsbooks in the state of New Jersey reported a month-on-month increase in handle for the month of August.

According to the latest figures from the New Jersey Division of Gaming Enforcement, bettors in the state wagered $665m on sporting events in August.

Sports betting handle in August was up 15% month-on-month from the $578.7m wagered in July. However, handle in August was slightly down year-on-year from the $668m wagered this time last year.

For the month of August, the majority of the state’s handle came from online channels after bettors wagered $612.9m  via online sportsbooks. The remaining $51.8m was wagered at the state’s land-based casino sportsbooks.

When it came to revenue, sportsbooks in the state generated $52m in sports betting revenue. This was down 5% month-on-month from the $55m generated last month.

The state of New Jersey received $6.7m in tax revenue from operators in August.

NJ handle passes $6bn mark in 2021

With the release of the state’s betting figures for August, it has been revealed that the state’s total sports betting handle for 2021 so far has passed the $6bn mark.

For the year-to-date so far, New Jersey sportsbooks have processed a total of $6.13bn in wagers.

This means that New Jersey’s sports betting handle in 2021 has surpassed the $6bn wagered during the entirety of 2020.

How NJ operators performed

Once again, the Meadowlands license, which hosts the FanDuel, PointsBet, and USA brands, dominated the market.

The Meadowlands license accounted for $26.9m in revenue, more than half of the state’s total revenue for the month.

Meanwhile, the Resorts Digital license, which hosts DraftKings, Fox Bet, and Resorts Digital, held onto second place, accounting for $13m of the state’s revenue in August.

In third place, the Borgata license, which includes BetMGM, managed to generate $ in revenue, which equates to 9% of the state’s August revenue.

The Monmouth Park licensee, which hosts William Hill, SugarHouse, and theScore products, came in fourth place with $2.4m in total betting revenue.

Ocean, which is partnered with William Hill and Tipico followed with $1.6m in revenue while Hard Rock Atlantic City and its Hard Rock, bet365, and Unibet brands followed with $1.1m in revenue.

No other licensee in the state managed to pass the $1m revenue threshold in August.

What did people bet on?

Parlay bets were the biggest revenue generator for operators in August, bringing in $19.2m in revenue.

Baseball bets generated $8.7m in revenue, making this the second-highest performing type of bet in August. Sports in the “other” category accounted for $6.4m in revenue.

The majority of the remaining revenue came from football wagers.

August is the final month before football season which means that figures are likely to skyrocket in September with the start of the NFL season.