NJ Sportsbooks Surprise Everyone With Great June 2020 Result

NJ Sportsbooks Surprise Everyone With Great June 2020 Result

New Jersey online sports betting revenue climbed in June despite the ongoing effects of the global pandemic. It was a surprise result and the impressive $165 million handle in June was far better than most industry experts had anticipated.

In a stunning development for the Garden State’s sportsbooks highlighting a year when the global pandemic and the associated health and economic crises have devastated most sectors of the gaming industry, New Jersey’s sports betting revenue for 2020 is still about on par overall with 2019, given this better than anticipated June result.

June’s total sports betting handle was $165,014,553, up approximately 40% from May 2020 ($117,821,281), according to recently released figures from the New Jersey Division of Gaming Enforcement (NJDGE).

The robust online sports wagering market helped the Garden State salvage decent numbers even in a month where fans and bettors alike were all still waiting for the big 4 U.S. major professional sports leagues to begin playing matches.

With those major leagues not operating, clearly New Jersey’s sportsbook operators have been doing a great job of promoting the so-called ‘fringe sports’ that have assisted in driving the sports betting handle in an upwards trajectory.

Outside of the postponed NBA, NHL, and MLB seasons, UFC and NASCAR have proved popular with the state’s sports bettors alongside a big uptake in wagering on PGA Golf upon its return.

Until recently, Table Tennis has also been a big earner for the Garden State’s sportsbooks until a recent match fixing scandal. The NJDGE must be given a pat on the back from sports bettors in closing down Table Tennis betting until the sport can rid itself of an unhealthy corrupt element. It’s further evidence that New Jersey takes its role of operating a clean and transparent wagering industry seriously, and doesn’t mind to literally chop off the head of a ‘revenue-raising’ golden egg laying goose’ if need be to keep it fair.

New Jersey Sports Betting – Comparing May to June 2020

In June 2020, New Jersey sports betting revenue was $12 639 282, up a solid 27.5% from May 2020 ($9 912 062) but even more impressively given the extreme circumstances, a 30.3% rise from the June 2019 numbers ($9 701 925).

To put that in context, in a year when revenues are down across the board in most legal sports betting states due to the ongoing effects arising from the global pandemic, New Jersey’s first half of 2020 was almost identical to the January to June 2019 sports betting revenue numbers. The Garden State’s sports betting revenue for the first six months of 2020 came in at $108 929 049 – only a mere 0.6% lower than the $109 633 765 recorded from the same period last year.

As expected, the year-on-year sports betting handle outlook was not as fruitful. It’s hardly surprising as June 2019 had the NBA Finals going at full tilt, and an MLB season clicking through its 162-game season as normal. In June 2020, New Jersey sports wagering suffered a 39.6% decrease from June 2019 ($273 222 975), and the online sports betting handle was down 27.2% from 12 months ago, when it pulled in $226 702 566.

However, New Jersey sports betting fans, don’t despair. July figures will undoubtedly be bumped back up again on the back of a full month of figures from PGA Golf, NASCAR and UFC.

Most importantly, roll in figures for the last few days of July from the scheduled reboot of MLB and NBA and the NFL September restart, and a bright finish to the 2020 calendar year is expected in the Garden State.

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