New Jersey sports betting handle drops to under $750m in June
$748.4m in wagering volume the lowest figure for Garden State sportsbooks since August 2023
New Jersey sportsbooks saw a dip in betting activity during June, reporting $748.4m in total handle, according to new figures from the New Jersey Division of Gaming Enforcement (NJDGE).
The handle figure represented a 10.8% month-over-month (MOM) decline from $838.9m in May. The market did see annual growth however, as June’s tally was up 26.6% year over year (YOY) from $591.1m during the same period of 2023.
Gross gaming revenue (GGR), conversely, saw an across-the-board decline, as the $60.1m in June GGR was down 23.7% from $78.8m in May and 9.5% YOY.
Sportsbooks sent $7.8m in tax payments back to the state as a result, bringing the total 2024 tax tally to just under $75m.
Despite the slow month, year-to-date revenue of $573.1m is up 30% from the first six months of 2023.
The downtick in overall wagering was undoubtedly a byproduct of the slower summer sporting calendar as international soccer – which doesn’t draw the same level of betting interest Stateside as abroad – took center stage for much of the month.
FanDuel was the clear winner on the operator front, amassing $29.1m in GGR, to account for nearly half of the market.
DraftKings registered as a distant second with $14.4m in revenue, but still far ahead the rest of the Garden State’s 18 mobile operators.
BetMGM ($3.7m) and bet365 ($3.4m) were neck and neck for the final spot on the podium, followed by Caesars ($2.1m).
New Jersey remained a mobile-first market, with 96.1% of total June handle wagered online.