Sportsbooks Report $60 Million In June Revenue – New Jersey’s Lowest Total Since Feb. 2023

There was no shortage of betting action in New Jersey last month – at least relative to summer months. Despite that, however, sportsbooks did not enjoy much success in June.

Data from the Division of Gaming Enforcement showed that NJ sportsbooks accepted $748.4 million in bets last month, which ranks as the second-best June in the six-year history of legal sports betting in New Jersey.

However, the other side of the coin showed sportsbooks pocketing just $60.1 million – the industry’s lowest monthly revenue total since February 2023.

What NJ sports betting data from June tells us

The nearly $91 million drop-off in handle from May to June certainly reflects the lack of major sports on which to wager. Especially after the NBA and NHL crowned champions midway through the month.

While down from the previous month, though, June’s handle was up a whopping 26.6% from the same time in 2023.

Through the first six months, 2024 handle clocks in at $6.76 billion – well ahead (31%) of the pace set in 2023.

As for revenue, it had been 15 months since sportsbooks reported as low of a total, dating back to February 2023 when they generated $54.6 million. Again, though, June 2024 revenue – while down nearly 24% from May – reflected a 9.5% increase year-over-year.

Year-to-date, NJ sportsbooks sit at $573.1 million in betting revenue, some 30% ahead of the six-month pace in 2023.

Baseball betting picks up steam

For obvious reasons, baseball betting in New Jersey gained in popularity last month. Of course, Major League Baseball now represents the only big four professional sports league still playing after the conclusion of the NBA and NHL seasons.

According to the DGE, bettors in the Garden State placed nearly $216 million in wagers on baseball games last month, representing 28.5% of all completed events handle in June.

With MLB hitting the midway point of the regular season this week, that spike in baseball betting interest comes as no surprise. Only April ($270.3 million) saw more handle on America’s pasttime, coinciding with MLB’s opening games of the year.

Breaking down individual NJ sportsbooks

Of the 16 sportsbooks reporting revenue in June, nearly half of them experienced one of their worst months in 2024.

Three operators – DraftKings Sportsbook NJ, Fanatics Sportsbook, and Prime Sportsbook – posted their lowest revenue totals of the year. Another four – including FanDuel Sportsbook NJ, Caesars Sportsbook NJ, Tipico Sportsbook, and betParx Sportsbook – saw June become the second-lowest month of 2024.

FanDuel ($29.1 million) and DraftKings ($14.4 million) went 1-2 last month, followed by BetMGM Sportsbook NJ ($3.7 million), bet365 Sportsbook ($3.4 million), and Caesars ($2.1 million).

Conversely, Hard Rock Bet Sportsbook NJ experienced its best revenue month in 2024. The $1.2 million reported in June accounts for a third of the total revenue the operators has reported in 2024.

Similarly, SuperBook ($195,058) and Betway ($165,317) had their best months, with each operator’s June total representing over 40% of their to-date totals.