- US Online Poker
- US Online Casinos
- US Online Sports Betting
New Jersey casinos reopened at the beginning of July, but that hasn’t clipped the wings of the state’s soaring online gaming industry.
NJ gambling sites combined to bring in $87.5 million for the month, topping their previous record of $85.9 million set in May. Limited casino capacity, mandatory masks, and a ban on cigarettes and alcohol mean many gamblers would rather play from home.
Sportsbooks contributed a further $29.5 million — most of it from internet wagering, though brick-and-mortar sportsbooks have reopened as well.
Data comes from the latest report published by the NJ Division of Gaming Enforcement.
Here are some of the numbers that stick out from the newest data:
Normalizing for the number of days in each month, online casinos slowed down in July, but only very slightly. Poker, on the other hand, took off, thanks entirely to the WSOP NJ online bracelet series, which caused Caesars‘ monthly poker revenue to more than double.
Golden Nugget remains the revenue leader among online casinos, with an all-time record of $31.5 million in winnings between its skins — a 34% market share. Resorts pulled ahead of Borgata into a clear second place, while the latter was one of only two casino licensees to see its winnings decline in July.
Revenue / ∆ Monthly (normalized) / ∆ Yearly:
Even limited gambling at brick-and-mortar properties in Atlantic City has made a huge difference to the state and the industry. Last month, total gambling revenue was down by two-thirds compared to last summer. That deficit is now just over one-fifth.
Moreover, the increase in online activity means the loss of tax revenue on the state’s end of things is even smaller, since online gambling is taxed at a considerably higher rate. The state collected $26.4 million in gaming-related taxes, down just 4.7% from $27.7 million a year ago.
Better still is the fact that the return of retail gambling and a wider variety of sports betting options hasn’t caused a decrease in online casino revenue.
The surge in online gambling was one of the few silver linings for the gambling industry amidst the pandemic. The increase can’t last indefinitely, of course, as players return to their old routines. However, nearly $5 million in new daily revenue from brick-and-mortar casinos has brought with it only a $40,000 drop in daily online revenue. That’s a hopeful sign that some of the new online casino customers acquired during the pandemic may now stick around.
NJ online sports betting revenue has exploded with the return of American professional sports, including the NBA and MLB. Online sportsbooks won an impressive $29.6 million in July, up from $12.6 million in June. August may prove to be even bigger, with the NHL playoffs now underway as well.
Retail sportsbooks also resumed business, but most saw very little action compared to their online counterparts. The main exception is Meadowlands Racing & Entertainment, where FanDuel Sportsbook accounted for $1.9 million out of a total of $2.6 million in retail winnings. Its online sportsbook was also dominant, though not to the same extent, with a 45% share of online revenue.
Overall hold for the month was 7.0%, down from 7.7% in June.
For more details about the resurgence of NJ sports betting, get the full story at Legal Sports Report.
|July 2020||June 2020||∆ Monthly||July 2019||∆ Yearly|