July revenue figures suggest Sky is the limit for NJ online casino
Whenever it seems like New Jersey online casino revenues have finally stabilized after nearly eight years, it comes with a month like July 2021.
A record $ 118.7 million was won by the online casino industry in July, according to figures published Monday by the State Division of Gaming Enforcement.
This figure comes after April ($ 108.2 million), May ($ 108.2 million) and June ($ 107.1 million) failed to hit March’s record high of 113.7 million. dollars.
For the third month in a row, Borgata outflanked the state’s longtime market leader, Golden Nugget. Borgata – the global revenue flag bearer almost since opening in 2003 – and its partners have cashed in $ 36.5 million, beating the $ 33.6 million raised by sites affiliated with Golden Nugget.
Resorts was a solid third at $ 23.3 million, while Caesars was the other earning more than $ 10 million at $ 10.2 million.
The news was less impressive for online poker, which grew from a relatively strong $ 4.8 million in July 2020 to $ 3.1 million last month.
Sports betting hit the heatwave days in July
The numbers are also heading in the wrong direction for sports betting, which generated $ 578.7 million, of which $ 49.3 million was online. Still, the industry captured 9.5% of bets, the highest retention rate reached since January 2020. That topped June’s 9.3% figure – both brands likely coming from parlay betting promotions. increasingly aggressive in the industry.
The NJ’s July betting numbers have been released:
$ 578.7 million wagered
Books won $ 55 million
(come on, people quit with the same shit game)
Anywayâ¦ PAY IT UNDER. pic.twitter.com/f9gPkLGrNC
– Captain Jack Andrews (@ capjack2000) August 16, 2021
For the year, the industry’s grip on parlay betting is 18.5%, compared to 7.8% overall. Bets on soccer returned 6.1%, compared with 4.2% on bets on baseball and just 4% on bets on basketball.
Unfortunately, state regulators lump all other sports into one big category called “Other.” These bets produced a 5.5% rate of return for the books. The $ 81.4 million raised on âOtherâ bets this year is almost double what was raised on baseball and football combined.
As usual, the Meadowlands Racetrack and its partners FanDuel and PointsBet have combined to not only lead the pack, but also to generate more than half of the revenue at $ 31.7 million. Among partner casinos, Resorts – along with DraftKings – managed $ 10.6 million, with Borgata ($ 6.3 million) the only other network making up even a tenth of the number of Resorts.