- Sports betting in New Jersey saw a 13% decline month over month in April.
- Sports betting is up 1,270% year over year.
- The decline can be attributed to the ending of March Madness betting.
TRENTON, N.J. – New Jersey sportsbooks saw a slight decline in activity month over month in April as March Madness betting comes to an end.
The overall numbers were still much higher than in April 2020 when COVID-19 shut down major sports leagues. The year-over-year increases show the market has bounced back.
Mobile sportsbooks dominated the New Jersey sports betting again, maintaining that local betting fans prefer betting on sports through mobile devices.
New Jersey Sports Betting Dips
According to the official revenue report, $747.987 million was wagered on sports in New Jersey in April, down 13% month over month from the $859.618 million in March.
With the end of the college basketball betting season, it is understandable that the sports betting numbers would take a dip in betting activity. Sportsbooks saw $54.8 million in sports betting revenue which is a 7.3% hold rate. The state saw $6.8 million in taxes.
The overall sports betting handle is up 1,270% from the $54.6 million collected in 2020, but this was due to the COVID-19 pandemic shutting down sports around this time last year.
Mobile Betting Dominates
New Jersey continues to see the major benefits from mobile sports betting as 91% of the total betting handle came from online sportsbooks. The total mobile betting handle was $681.177 million with FanDuel being the number one sportsbook again in New Jersey.
DraftKings came in second, with BetMGM rearing up the top three. These three sportsbooks have maintained their position as the primary books in the New Jersey legal sports betting market.
The success of the mobile betting market has helped New Jersey see $244.2 million in total sports betting revenue for the first four months of the year.
The sports betting numbers should see growth in the next report. The beginning of the NBA and NHL postseasons will surely draw up betting handle and revenue. New Jersey continues to lead all other markets in betting handle and revenue.
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Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.