New Jersey Sports Betting, iGaming Numbers Grow In May
- by Administrator
With sports gradually returning, New Jersey saw a big increase in May’s sports betting numbers over April. And with more people gravitating online, New Jersey’s May iGaming revenue continued to grow.
The total sports betting handle — all mobile with casinos closed — was $117,821,280, an increase of 115.8% over April’s $54,593, according to figures released Friday by the New Jersey Division of Gaming Enforcement. May handle was down 63% year over year ($318,940,677).
May saw $9,912,062 in sports wagering revenue, up 276% from April’s $2,634,050. May’s sports betting numbers were helped by UFC and NASCAR holding regular events, overseas soccer returning and golf having two charity events involving the top PGA players.
In addition, New Jersey has favorable regulations for registering to bet via mobile and online — unlike the sports betting market in Nevada, which requires in-person registration at physical casinos.
New Jersey had more than $85 million in online casino ($81,423,413) and online poker revenue ($4,516,529) in May. That was a 124% increase from last May’s $38.3 million.
This May’s iGaming was up 7.5% from April’s $79,959,826, but poker was actually down 12.3% from April’s $5,148, according to the state report.
New Jersey Sports Betting, May vs. April
| MAY ‘20 | APRIL ‘20 | CHANGE | |
|---|---|---|---|
| Net Revenue | $9.912M | $2.634M | +276.3% |
| Total Handle | $117.821M | $54.593M | +115.8% |
| Online Handle | $117.821M | $54.593M | +115.8% |
New Jersey Casinos Remain Closed
Gov. Phil Murphy said he hopes to reopen the nine casinos in Atlantic City by July 4 with enhanced safety and social-distancing measures in place, according to published reports.
On June 1, Murphy announced details of the Stage 2 reopening that begins Monday. Retail businesses, outdoor dining with reduced capacity and libraries and museums can reopen while limiting capacity. Casinos appear to be in Stage 4 of the governor’s reopening plans.
The casinos have been closed since mid-March. Nevada allowed Las Vegas casinos to reopen on June 4 and they have been doing a brisk business since.
New Jersey’s Division of Gaming Enforcement must give approval before casinos can reopen. Officials have “engaged with the casino industry to develop plans for the safe reopening of Atlantic City’s retail casino operations when authorized by the governor,” the Associated Press reported.
New Jersey Sports Betting, May 2020 vs. May 2019
| MAY ‘20 | MAY ‘19 | CHANGE | |
|---|---|---|---|
| Net Revenue | $9.912M | $15.536M | -36.2% |
| Total Handle | $117.821M | $318.941M | -63% |
| Online Handle | $117.821M | $263.552M | -55.3% |
More Online Poker for NJ Players
Online poker play should see growth in New Jersey as some of the biggest tournaments head online in the coming months.
The World Series of Poker announced this week that for the first time, the 2020 WSOP will be held online, beginning July 1, because of the coronavirus. WSOP.com players located in Nevada and New Jersey can play. The event was supposed to start May 26 in Las Vegas.
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