As the old saying goes “April showers bring May flowers.” In New Jersey in May it brought a lot of wagering, one of the best months the state has seen.
Here are three takeaways from New Jersey’s May sports betting numbers:
May Gives Lift Heading Into Summer
May numbers released Wednesday, four days before the summer season starting on Father’s Day — June 20 — provided a boost to the sports betting industry as total handle came in at just over $814 million, marking the third best month this year and the fifth-best ever overall in the state. The May total was up 8.9% from April’s $748 million.
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The high month in New Jersey and the U.S. this year was $958.72 million in January, followed by $859.618 million in March. The all-time U.S. monthly record of $996.3 million was set in December in New Jersey.
NJ Sports Betting, May vs. April
|Total handle||Mobile handle||Revenue|
|Change||Up 8.9%||Up 7.9%||Down 3.5%|
Coronavirus Go Away!
As the state reopens throughout North, Central and South Jersey, look for numbers to improve dramatically over the next couple of months as brick-and-mortar sportsbooks and Atlantic City casinos ease restrictions for public entrance.
This means more money at the books, casinos and ancillary businesses such as restaurants, bars, tourism. You can feel it in the state and people will come out to support.
Bettors Like Baseball & Playoffs
With the New York Mets and New York Yankees in full baseball mode, the New York Knicks and Brooklyn Nets in the NBA Playoffs and the New York Islanders in the NHL Playoffs, May proved that the extension of seasons is always good in the industry.
With the Nets and Islanders looking to extend their season over the next couple of days and even weeks, this will help June numbers as we approach the start of NFL exhibition and college football regular seasons.