June is proving to be a great month for the recovering sports betting industry. As more and more sports events resumed, more bettors returned to their favorite sports betting software to bet online. In a time when the estimates on how the sports betting industry can recoup are set low, New Jersey continues to surprise many. Their local sports betting industry is more resilient than ever. In fact, the sports betting revenue for the state so far in 2020 is moving at the same pace as it was in 2019. Let’s take a look at New Jersey’s sports betting revenue data.
New Jersey’s Sports Betting Revenue in June
According to the state’s Division on Gaming Enforcement, the total betting handle for June is $165,014,553. This is a significantly higher 40% increase to May’s $117,821,281. And since physical casinos were closed, betting platform solution providers help sportsbooks take wagers online. What’s amazing, is the sheer number of wagers and the handle for the month is this good even without the country’s top sports leagues running.
Looking at the revenue, June’s revenue for New Jersey is $12,639,282. Again, not bad given that there are hardly any top sports events on for the month. And if you are trying to get an understanding of what is a bookmaker, and how he can earn money, then you know that the schedule of events can tell you if it will be a profitable month for your sportsbook.
If we compare June to May’s revenue, June is higher by 27.5% than May’s $9,912.062. And looking at the year on year data, it is even higher by 30.3% than June 2019’s $9,701,925. But this is just revenue. Next, we’ll take a look at the handle.
New Jersey’s Handle
The total handle for June 2020 is $165.015 million. This is lower by 39.6% than June 2019’s $273.223 million. Normally, June will be a pretty busy month due to the NBA, MLB, and other notable leagues like the NHL. Experts are also optimistic that July’s numbers will be even better, especially since the NBA and the MLB will be back in July.