In June, New Jersey’s sports betting handle totaled $748 million

On Tuesday, the New Jersey Division of Gaming Enforcement reported a sports betting handle of $748 million for June. That’s up 26.6% on a year-over-year basis. In the post-PASPA era, New Jersey leads all states in commercial wagering with $52.46 billion. Additionally, their $6.67 billion wagered in the first half of 2024 is up 31% compared to the first six months of 2023. However, their handle was down 10.8% compared to the $838.9 million reported in May. New Jersey’s sports betting revenue totaled $60.1 million, which was down 9.5% compared to June 2023. Reports have noted that revenue in NJ has been down year-over-year in each of the last two months. Their $573.1 million in year-to-date winnings for sportsbooks is up 30% compared to their numbers in 2023.

FanDuel and DraftKings are at the top of the market in New Jersey

In New Jersey, there are 18 mobile betting apps for customers to choose from. In terms of operator revenue, FanDuel was the clear winner in the Garden State, claiming $29.1 million in revenue for June. That was down 20.5% compared to May 2024. FanDuel crossed $240 million in year-to-date winnings in New Jersey. The next closest sportsbook was DraftKings with $14.4 million in operator revenue. This was DraftKings’ lowest month so far in 2024 and the first time they’ve been under $15 million this year.

For year-to-date winnings, DraftKings is at $137.4 million in revenue. FanDuel and DraftKings were the only mobile operators who totaled nine figures in revenue. Bet365 has been doing what it can to try and close the gap in the market between BetMGM and themselves. In June, bet365 had $3.4 million in revenue. Just getting beat out by BetMGM who collected $3.7 million in winnings. Additionally, Caesars Sportsbook found its way into the top five with $2.1 million in revenue. One major reason operators saw their revenue decline in June was because of the public’s success on parlays. New Jersey’s 13.7% hold was their lowest in 2024.