The New Jersey Division of Gaming Enforcement reported a sports betting handle of $748.4 million for the month of June on Tuesday, up 26.6% from last year.

The Garden State continues to lead all states in commercial wagering in the post-PASPA at $52.46 billion, and the $6.76 billion wagered in the first half of 2024 is up 31% compared to the first six months of last year. Handle was down 10.8% versus the $838.9 million reported for May.

Sports betting revenue totaled $60.1 million, down 9.5% from last year. Though revenue has been down year-over-year each of the past two months, the $573.1 million in year-to-date winnings for sportsbooks is up 30% versus 2023.

The state collected $7.8 million in taxes, leaving it less than $7,600 shy of $500 million overall. The $74.3 million in taxes collected in the first six months of the year is $17.8 million ahead of last year’s pace.

1 NEW YORK $11.03B
2 NEW JERSEY $6.76B
3 Illinois $5.74B
4 Ohio $3.58B
5 Penn. $3.56B
6 MASS $3.55B
7 Nevada $3.36B
8 Virginia $2.9B
9 MARYLAND $2.83B
10 Arizona $2.76B#SportsBettingX #GamblingX

— Chris Altruda (@AlTruda73) July 16, 2024

FanDuel was an easy winner among the 18 sports betting apps available in the Garden State when it came to operator revenue, claiming $29.1 million in revenue for June. That was down 20.5% from May as it crossed $240 million in year-to-date winnings.

DraftKings had less than half that total at $14.4 million, a low for 2024 and also its first month below $15 million this year. It’s still a comfortable second in year-to-date revenue at $137.4 million and was the only other mobile sportsbook in nine figures.

Bet365 closed the gap between itself and BetMGM for the final podium spot for revenue for the third straight month. The England-based sportsbook collected $3.4 million in revenue, as BetMGM claimed $3.7 million.

While the Fanatics Sportsbook/PointsBet combined 2024 revenue total of $92.1 million is comfortably third among all operators, Fanatics barely fended off ESPN BET for sixth in June winnings with $1.8 million. The two were separated by less than $100,000.

Caesars snuck into the top five with $2.1 million from their two licensee locations and has claimed over $15 million for the year.

Hard Rock Bet rounded out the group of eight mobile operators with a seven-figure haul for June; its $1.2 million in winnings was nearly triple that of May and its top mark for 2024. Prime Sportsbook was the lone mobile operator to post a monthly loss in June, as bettors came out $206,600 ahead. That moved Prime into the red for the year with a deficit of $5,182.

Mobile operators totaled $58.9 million in revenue, crafting a collective 8.2% hold from $719 million worth of wagers. That was far better than their retail counterparts, who were pegged to a 4% hold in claiming $1.2 million in winnings from $29.5 million in handle.

The Borgata was the biggest drag on brick-and-mortar venues, paying out $295,200 above its handle in June and swelling their year-to-date deficit to $379,000.

1 New York $1.48B
2 NEW JERSEY $748.4M
3 Mass. $509.4M
4 N.C. $398.3M
5 Maryland $384.7M
6 Tenn. $342.2M
7 Indiana $298.2M
8 Iowa $146.7M
9 Kansas $140.1M
10 Maine $39.5M#SportsBettingX #GamblingX

— Chris Altruda (@AlTruda73) July 16, 2024

A key reason revenue declined compared to June 2023 was the betting public having a relatively good month when it came to parlay and same-game parlay wagering. The 13.7% hold against $223.7 million in handle attained by operators was a low for 2024, with the previous worst being the 18.1% in February. It was also 8.3 percentage points lower than June 2023.

Sportsbooks still collected $30.6 million from the multi-leg wagers — just over half of June’s overall revenue — but that was also down 18.3% from last year. The $338.4 million in parlay winnings represents 59% of all operator revenue this year, as the house has a healthy 19.2% hold for the first six months.

Basketball winnings compensated for some of the lost parlay revenue, with operators crafting an 11.6% win rate to reap $8.4 million — up 130% from last year — against $72.3 million worth of wagers. It was the first time the house had a double-digit hold for hoops since an 11.5% mark from July 2021 and only the fourth time in 73 months of wagering.

The catch-all “other” category, which includes golf, tennis, hockey, boxing, MMA, and auto racing in New Jersey, provided the second-largest bucket of revenue by category at $15.3 million. The hold there was 6.3% against $242.7 million in handle.

Operators also had a far better June than May when it came to baseball bets, collecting $12.1 million — nearly four times the amount from the previous month. The house posted a 5.6% hold on those bets, which totaled almost $216 million in handle.