The middle of the Summer numbers for July NJ sports betting showed decreases across the board, but there is light at the end of the tunnel.
Here are three takeaways from New Jersey’s July sports betting numbers:
Revenue Down For Second Straight Month
NJ gambling produced $578.7 million in total sports handle, down a considerable 24.5% from June’s $766.9 million.
Online sports betting in New Jersey dropped in July to $529.4 million, down 22.5% from June’s $683 million, but mobile represented 91.5% of total handle, a 2.5% increase from June’s 89%.
With just two major sports: MLB betting and Major League Soccer betting in play, along with golf and auto racing also on the docket, wagering options were limited to a mid-Summer haze, plus with restrictions easing still in the state (although that could change over the next few months), people just wanted to get outside to go down the shore or just take advantage of what is left in Summer.
NUMBERS NOT BAD TO OVERALL PICTURE
Despite a drastic decrease from June’s $766.9 million, the July number of $578.7 million in total sports handle was the 12th highest in the state’s history and the 15th time the number has gone above the $500 million threshold.
People still bet in the summer, just not as much.
New Jersey Sports Betting, July vs. June
|Total handle||Mobile handle||Revenue|
|Change||Down 24.5 %||Down 22.5 %||Down 22.9 %|
AS SUMMER FADES, AUTUMN WILL HEAT UP
With baseball pennant races are heating up, NFL preseason starting up and with college football starting in two weeks, August could start a stretch of five straight months of favorable increases.
Throw in U.S. Open tennis, FedEx Cup Playoffs in golf and NASCAR’s Chase over the next couple of months, and August could be a springboard to heavy sports betting activity.