$165M from New Jersey Sportsbooks in June

July 17, 2020

Although still $300 million down on normalJune figures, the state of New Jersey still managed to generate $165 millionthrough the challenging month of June, with online casinos performing evenbetter.

 

Although figures are significantly lower thanlast year’s $270M, New Jersey’s June handle managed to increase by approx $50Mfrom the month of May, producing $1.7M in state revenue.

 

June is known for being a slow month when itcomes to sportsbetting, so the increase from May to June is seen as a promisingsign. July looks even more promising with retail casinos re-opening, majorsports leagues resuming, and expected investment into the online casinoindustry.

 

Lead analyst for PlayNJ.com. Dustin Gouker,reported “New Jersey will still have longer-term issues. It will take time torecover, and the gaming industry will likely be affected for as long as theworld is suffering from this health crisis. But for now, optimism in theindustry is growing.”

 

Interestingly, the strength of major sports bets wasdue largely to futures betting and is predicted to continue with the lead up tothe opening of hockey, baseball, and baseball, meaning that the next couple ofmonths are looking up!