New Jersey Posts $315 Million July Sports Betting Handle

New Jersey Posts $315 Million July Sports Betting Handle
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New Jersey’s sports betting market in July continued a dramatic turnaround from the months when sports and casinos were shut down.

July’s total sports betting handle was $315,118,805, a 91% increase over June’s $165,014,553 and a 167% increase over May’s $117,821,281. The July handle was up 25.4% year-to-year from July 2019’s $251,371,272.

RELATED: More about New Jersey sports betting and gaming

The online handle for the top New Jersey sportsbooks was $295,804,327 in July, which was 94% of the total handle, according to figures that the state Division of Gaming Enforcement released Wednesday.

What’s even more impressive about the July numbers is that MLB, NBA and NHL didn’t start returning until either late July or early August. All three are now playing games daily with the NHL starting its playoffs Tuesday and the NBA soon to follow. MLB is just through a quarter of its season.

New Jersey Sports Betting, July vs. June

July ‘20 June ‘20Change
Net Revenue $29.552M $12.639M Up 133.8%
Total Handle $315.119M $165.015M Up 91.0%
Online Handle $295.804M $165.015M Up 79.3%

July Numbers Showed Big Rebound

In addition to the handle and mobile numbers, the July report showed:

  • Sports betting revenue for the month was $29,551,987, up 133.8% month-to-month from June 2020’s $12,639,282 and up 65.2% year-to-year from July 2019’s $17,884,790.
  • Total gaming revenue was $264,485,561, up 171.1% month-to-month from June 2020’s $97,552,429, but down 20.9% year-to-year from July 2019’s $334,386,358.
  • Internet gaming win was $87,492,952, an increase of 3% month-to-month from June 2020’s $84,913,147 and up 122.5% from July 2019’s $39,315,731.
  • Through July 2020 sports betting revenue is running higher than 2019’s first seven months. Sports wagering revenue for the first seven months of 2020 was $138,481,035 — an 8.6% increase from the $127,518,555 during the same timeframe last year.

New Jersey Sports Betting, July 2020 vs. July 2019

July ‘20 July ‘19Change
Net Revenue $29.552M $17.885M Up 65.2%
Total Handle $315.119M $251.371M Up 25.4%
Online Handle $295.804M $213.039M Up 38.9%

Moving Forward in New Jersey

Most casinos in Atlantic City were closed in mid March and didn’t start reopening until early July with strict social distancing and health measures. Resorts, Tropicana, Ocean, Golden Nugget and Hard Rock all reopened on July 2. Harrah’s, Caesars and Bally’s followed suit on July 3. Only the Borgata waited until the end of July to reopen.

On Aug. 3, three of the most popular online slot games from Everi Digital became available at New Jersey online slot sites after Everi reached a partnership agreement with Roar Digital to enter the state.

On Aug. 6, PointsBet, which already operates a sports betting platform in the state, announced that it is set to enter the rich New Jersey iGaming market as well. It reached a “primary skin” agreement with Twin River Worldwide Holdings in New Jersey. Twin River is in the process of completing its deal to acquire Bally’s Atlantic City.

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