New Jersey Gaming Revenue Sees 8.2% Growth in July
New Jersey’s Division of Gaming Enforcement announced that the total gaming revenue amounted to $547.8 million in July, marking an 8.2% increase from the previous year.
Nationwide Trends and New Jersey’s Position
In July 2024, sports betting delivered a 31.2% gross revenue rise to $80.0 million. Year-to-date sports wagering revenue has hit $653.1 million, up 30.1% from the same period in 2023.
Nationwide, the win rate from states that reported its results for July was 11.7%, tracking as the third-highest since the repeal of PASPA in 2018.
New Jersey’s 12.3% hold rate was its highest since August 2022, when the state posted a 13.2% win rate.
Top Performers Among Mobile Sportsbooks
DraftKings bounced back with $25.9 million in revenue for July, an 80.7% increase from June, marking its best month since January. FanDuel maintained its lead in year-to-date revenue, collecting $31.9 million in July, an increase of 9.6%.
BetMGM secured third place with $5.2 million in revenue, while Caesars Sportsbook saw an increase of 63.2% from June, collecting $3.4 million. Bet365 rounded out the top five mobile sportsbooks with just over $3 million for the fifth consecutive month.
Other performers included Fanatics Sportsbook, which generated nearly $2.7 million, and ESPN BET, which rebounded with $2.4 million — a 44.9% increase from the previous month.
Recommended