NJ Online Gambling and Sports Betting Disappoint in AprilPublished May 24, 2021 by Elana K
New Jersey online gambling and sports betting experienced a rare decline in April, according to the New Jersey Division of Gaming Enforcement.
New Jersey online gambling and sports betting experienced a rare decline in April, according to the New Jersey Division of Gaming Enforcement. Online gambling generated $107.7 million, a drop from March’s $113.7 million. Sports betting dropped from $60.8 million in March to $54.8 million in April.
The drop in online gambling may have to do with things opening up due to COVID vaccinations. People may be spending more time outdoors and with friends than at their computers/on their phones. Regarding sports betting, following March Madness there is usually a drop in betting, especially since there are no major sporting events in April.
Online Gambling Market Leaders
The Golden Nugget has traditionally been the market leader of New Jersey online gambling, until Borgata overtook in last month to gain first place. In April, the two were neck and neck again, and ultimately Borgata maintained its position of number one with the help of online poker. Both Borgata and the Golden Nugget earned about $32 million in revenue, but Borgata had an additional $746 thousand from online poker. Resorts came in third place with about $19.6 million in April.
New Jersey Sports Betting
New Jersey sportsbooks also took a hit in April, bringing in about $54.8 million in April, a 9.7% drop compared to March or a 6.7% drop when adjusted for the extra day in April. The total handle generated by New Jersey sportsbooks in April amounted to $748 million, 13% less than March’s $859.6 million.
Interestingly, the decrease in revenue was entirely from mobile betting. Retail sportsbooks saw an increase of 74% in their revenue, but the mobile losses couldn’t make up for the growth.
Year-on-Year Total Gaming
Despite the drop in April compared to March 2021, the year-on-year numbers are very good. Compared to the total gaming revenue of 2020, April 2021 was up by 326.4%. While that sounds like good news, it’s important to remember that April 2020 was notoriously the worst quarter in many years due to COVID shutdowns. New Jersey online casinos and sportsbooks are now waiting to see whether April's decline was a fluke or the beginning of an unfortunate pattern.