New Jersey’s regulated sports betting revenue took step back in May, even as online betting grabbed its largest share to date of the market’s overall wagering handle.
According to figures released Wednesday by the New Jersey Division of Gaming Enforcement (DGE), state-licensed betting operators reported revenue of $15.5m in May. That’s a step down from the $21.2m the state reported in April and the lowest revenue total through the first five months of 2019.
May’s overall betting handle hit $319m, a modest uptick from April’s $313.7m, bringing the year-to-date total to just over $1.71b. Digital wagering accounted for $263.5m of May’s total handle, equal to 82.6% of the total, up 1.6 points from April and the highest monthly percentage of overall wagering since the market launched last summer.
Put it another way: May’s digital betting handle was nearly 80% as much as the state’s retail sportsbooks have handled over the first five months of 2019. Something to consider for states – here’s looking at you, New York – that seem intent on authorizing purely land-based sports betting regimes.