New Jersey sports betting revenue increases

  • New Jersey had a successful July in terms of sports betting handle.
  • The success can be attributed to the return of major sporting leagues like the MLB and NBA.
  • New Jersey’s betting market was suffering due to the coronavirus shutting down most venues and sporting leagues.

TRENTON, N.J. New Jersey sports betting managed to bounce back in July thanks to the return of sporting events. This led to $315 million in betting handle in the month of July alone.

Many prominent New Jersey casinos were forced to be closed due to the coronavirus pandemic. With places like Atlantic City slowly opening, these venues were finally able to return to some normalcy.

With more sporting events returning, it is projected that August will be an even bigger month for sports betting in New Jersey.

Sports Betting Back In NJ

According to a report released by the New Jersey Division of Gaming Enforcement, sports betting in the Garden State is up 91% in July from June.

The $315.1 million that sportsbooks took in wagers in July 2020 is also 25.4% more than what was taken in July 2019. From this, $29.6 million was garnered in revenue.

A significant boost in wagers came from the nine days of betting on the MLB and eight days of NBA betting.

In June there were $7 million wagered on baseball games. The nine days of MLB in July brought in $59.6 million in bets. June also took in a total of $3.2 million in basketball wagers which increased to $20.8 million in July thanks to the NBA return.

The trend is expected to increase in August as well, with the NBA playoffs and MLB season progressing bringing in more potential wagers.

There was also a major increase in parlay bets from June to July. In June $27.4 million was wagered in parlays bets while July saw $70.6 million.

New Jersey’s July numbers are a good sign for the remainder of the year for one of the country’s largest legal sports betting markets.

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