New Jersey Sports Betting Revenue is Up for June

Summer is just starting in New Jersey and sports betting is heating up in the state as well. Despite a decrease in betting handle for the month of June, the New Jersey sports betting revenue increases during this period. A lot of gambling solutions providers are reporting increased revenues even if there is a dip in handle. Let us take a look at the numbers for New Jersey this month.

The total sports betting handle for New Jersey for the month of June is $766.9 million. This is 5.8% lower than that of May’s $814.27 handle. But, if we compare this to last year’s numbers, we have a 364.7% increase in handle from June 2020’s $165 million. The total mobile sports betting handle reported from sportsbooks is indicative of how profitable using a sports betting software solution is. $683.021 out of the total handle (89%), are from mobile sportsbooks.

New Jersey Sports Betting Revenue Report

As for revenue, the total revenue for the state is at $71.268 million for June. This is 34.7% higher than May’s $52.895 million. If we compare it from June 2020’s revenue of $12.6 million, we have a 463.9% year on year growth in revenue. The hold for June is pretty high at 9.3%, from 6.5% in May.

There are a lot of reasons that could affect the numbers for June. There could be less sports events in June than other months. Another reason is that New Jersey is slowly reopening its retail casinos and brick and mortar casinos. So, instead of going for a sports betting platform, people are going out to place their bets in retail gaming shops instead. However, the growth of revenue in mobile betting still tells us that the mobile betting market is as strong as ever.

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