New Jersey’s Sports Betting Handle Dips Below $300 Million for First Time Since October

Credit:

Suchat Pederson/The News Journal via USA TODAY NETWORK.

  • On Friday, it was revealed that New Jersey took in $273.2 million worth of sports bets, marking the first time since October that it saw less than $300 million.

In May, we watched as New Jersey dethroned Nevada to become the king of legal sports betting in the United States. It was a narrow margin, but Jersey’s $318.9 million topped Nevada’s $317.4 million to take the crown. It marked the seventh straight month in which New Jersey took in a handle of more than $300 million.

However, that streak has come to an end. On Friday afternoon, it was revealed that New Jersey took in $273.2 million last month — $226.7 million (83%) of which was wagered online. Nevada’s numbers for June have not yet been revealed.

The books took home $9.7 million of revenue during the month from sports betting. This slight drop-off is understandable given the sports calendar. July could also see numbers down a bit, but we can expect things to ramp up come August and September.

New Jersey continues to be the most successful new state in the ever-changing sports betting industry. As the numbers indicate, its mobile apps are a large reason why that’s the case.

Just today, New Hampshire became the 16th state to legalize sports betting, and, like New Jersey, intends to have both physical sportsbooks and mobile apps.

Meanwhile, Maine has hit a snag and will be without betting until at least 2020 after it looked like legalization this year was a realistic possibility.

Check here for the latest projections on when your state is expected to have legal sports betting.

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