- The sports betting handle was $313 million in April.
- The total handle and revenue are down compared to March.
- Around 80 percent of the handle came from online wagering.
TRENTON, N.J. – The sports betting figures for April in New Jersey have been released.
The New Jersey Division of Gaming Enforcement released the April sports betting numbers. A quick summary will tell you that sports betting handle and revenue are down compared to March. You will also notice that this was the second most profitable month for sports betting.
Breaking Down The Numbers
The sports betting handle for April was $313 million. This is a decrease compared to March which had a $372 million handle. So far, March has had the highest handle in New Jersey sports betting history. Sports betting revenue in April was $21.2 million. In March, the total revenue for sports betting was $31.7 million.
April was still a profitable month for New Jersey. The month had the second highest revenue numbers for the state.
March Madness is the main reason why March was so profitable for New Jersey. The tournament had started and many gamblers wanted to get into the action. There was also a large number of NHL and NBA games going on as well.
April was able to keep up due to the number of tournaments that happened in that month. The NCAA Tournament concluded in April. The entirety of round one and most of round two of the NHL tournament happened in April. The Masters happened during this month as well. This is part of the reason why the sports betting handle was over $300 million in April.
Online Betting Reigns Supreme
About 80 percent of the sports betting handle came from online sports betting. The total revenue for online wagering is around $253 million. Online and mobile sports wagering is very profitable in New Jersey.
Other states are taking notice as well. Indiana recently legalized sports betting and included mobile wagering provisions as well. The Hoosier State is following New Jersey’s example, and they are allowing for remote registration for mobile wagering.
Other states are using New Jersey as an example to follow for mobile sports betting. The Garden State always had remote registration for sports betting. This is likely the reason why the total handle for sports betting in New Jersey is over $2.6 billion.