New Jersey Posts $313.7M Sports Betting Handle in April, On Pace to Eclipse $3 Billion in Year 1

New Jersey Posts $313.7M Sports Betting Handle in April, On Pace to Eclipse $3 Billion in Year 1 article feature image
Credit:

Chris Pedota-NorthJersey.com/ USA TODAY NETWORK. Pictured: New Jersey Governor Phil Murphy.

New Jersey took in $313.7 million in bets in April, according to numbers released Tuesday by the state’s Department of Gaming Enforcement.

The numbers are down 16% from the $372.5 million brought in in March, boosted by March Madness bets.

The headline continues to be the number of bets made on mobile within the state. April saw 81% of wagers being made that way.

DraftKings, which said Monday it had drawn 17 million bets online from New Jersey since it started on Aug. 1, pulled in more than $4 million for the month. FanDuel and PointsBet, did $8.7 million combined online, with FanDuel doing the lion’s share of that revenue.

FanDuel’s retail sportsbook at the Meadowlands led all sportsbooks in New Jersey, posting $3.3 million in revenue, pulling in more than four times that of the next-largest physical sportsbook, William Hill’s establishment at Monmouth Park.

“The FanDuel Sportsbook is the clear number one sports betting operator in New Jersey, a notable achievement just one year since the overturn of PASPA,” the company said in a statement. “April was our second biggest revenue month since launch, thanks in part to enthusiasm for the NBA and NHL Playoffs as well as the start of baseball season.”

The rise of PointsBet, which launched in New Jersey five months after DraftKings, has been particularly impressive. Sources said the Australian-based outfit — which has become known for its unique promotions after arriving on the scene five months after DraftKings debuted online in New Jersey — now has about 5% market share in the state.

New Jersey operators have now taken in $2.6 billion in bets in 10-and-a-half months, which puts the state on pace to have a $3.1 billion handle in its first year. Nevada had a $5.01 billion handle for 2018.