Whenever it seems as if perhaps New Jerseys online casino revenue has finally leveled off after almost eight years, along comes a month like July 2021.<\/p>\n
A record $118.7 million was won by the online casino industry in July, according to figures released Monday by the state Division of Gaming Enforcement.<\/p>\n
That figure comes after April ($108.2 million), May ($108.2 million), and June ($107.1 million) each had failed to match the March record of $113.7 million.<\/p>\n
For the third consecutive month, Borgata outflanked longtime state market leader Golden Nugget. Borgata the overall revenue standardbearer almost since it opened in 2003 and its partners took in $36.5 million, beating the $33.6 million collected by the Golden Nugget-affiliated sites.<\/p>\n
Resorts was a solid third at $23.3 million, while Caesars was the other $10 million-plus earner at $10.2 million.<\/p>\n
The news was less impressive for online poker, which dropped from a relatively robust $4.8 million in July 2020 down to $3.1 million last month.<\/p>\n
The numbers are also heading in the wrong direction for sports betting, which generated $578.7 million in handle all but $49.3 million of which came online. Still, the industry captured 9.5% of the wagers, the highest holdrate achieved since January 2020. That edged out the 9.3% figure from June with both marks likely coming from increasingly aggressive parlay betting promotions in the industry.<\/p>\n
For the year, the industrys hold from parlay betting is 18.5%, compared to 7.8% overall. Football betting has yielded a 6.1% return, compared to 4.2% on baseball bets and just 4% on basketball wagers.<\/p>\n
Unfortunately, state regulators lump every other sport into a large category called Other. Those bets have produced a 5.5% rate of return for the books. The $81.4 million collected on Other bets this year is almost double what has been collected on baseball and football combined.<\/p>\n
As usual, the Meadowlands Racetrack and its partners FanDuel and PointsBet combined not only to lead the pack, but to take in more than half the revenue at $31.7 million. Of the casino partners, Resorts with DraftKings managed $10.6 million, with Borgata ($6.3 million) the only other network clearing even one-tenth of Resorts number.<\/p>\n
Photo: Shutterstock<\/p>\n
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July Revenue Figures Suggest Skys The Limit For NJ Online Casino - NJ Online Gambling<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Whenever it seems as if perhaps New Jerseys online casino revenue has finally leveled off after almost eight years, along comes a month like July 2021. A record $118.7 million was won by the online casino industry in July, according to figures released Monday by the state Division of Gaming Enforcement. That figure comes after April ($108.2 million), May ($108.2 million), and June ($107.1 million) each had failed to match the March record of $113.7 million. Continue reading