NJ Sportsbooks Generate $80 Million In Revenue, Best July Of All Time

New Jersey sportsbook revenue rebounded sharply to $80 million in July following a disappointing June. It’s the best July ever in New Jersey.

NJ betting revenue was $60.1 million in June, one of the lowest totals since February 2023.

As for handle, NJ sportsbooks had a solid month despite recording $652.3 million in total July bets, which is less than June’s total.

July revenue up 16.7% MoM

Despite the MLB being the only major sport on the calendar, sportsbooks performed quite well during July. They displayed a month-over-month increase of 33.1% and a year-over-year decrease of 16.7%.

Handle decreased 12.8% from June. However, hold percentage increased from 8% to a whopping 12.2%.

This was one the state’s best July’s, in terms of revenue, since sports betting became legal:

• 2019: $17.9 million
• 2020: $29.6 million
• 2021: $55 million
• 2022: $45 million
• 2023: $61 million
• 2024: $80 million

Key NJ sportsbook takeaways for July

DraftKings closes gap on FanDuel in July

While FanDuel Sportsbook NJ maintained its lead in the Garden State, DraftKings Sportsbook NJ was not far behind in July. Each operator almost went neck-and-neck as FanDuel recorded $31.9 million in revenue while DraftKings closed in at $25.9 million.

However, over the course of YTD revenue, FanDuel is comfortably leading $272.5 million to $163.4 million.

Fanatics displays success in second full month post-launch

Since launching a platform in May, Fanatics Sportsbook posted its best revenue in revenue to date. In July, the new operator recorded $2.7 million in earnings last month.

Fanatics can be in the second tier of sportsbook operators with bet365, Borgata and Caeasars. Fanatics finished ahead of ESPN BET and BetRivers last month.

Bet365 continues impressive run

Bet365 Sportsbook NJ has been as consistent as any in the Garden State. The operator has posted at least $3 million in revenue in every month, but one, in 2024, so far.

Despite a slow month, considering the sports calendar, bet365 crossed the $3 million threshold for revenue last month. It performed better than it did in February ($2.9 million) and came just shy of March ($3.1 million), which holds one of the best sporting events of the year, March Madness.

July revenue breakdown by sportsbook