The Final Four, the first full month of professional baseball, and the beginning of the NBA and NHL playoffs all helped push New Jersey online and retail sportsbooks accept US$313.7m in bets in April.
That is down 16 per cent on the $372.5m wagered during a college basketball-fuelled March, according to official figures. In total, New Jersey’s online and retail sportsbooks have now accepted $2.6bn in bets since legalisation in June 2018.
“Nearly a full year in, we are beginning to get a clearer picture of how New Jersey bettors react to certain products and sports,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com.
“While there are a lot of similarities between Nevada and New Jersey, the bettors of the Northeast behave a bit differently than in the West. For instance, New Jersey’s overwhelming preference for online betting has been obvious, and the region’s enthusiasm for college basketball and pro baseball are showing in the state’s handle.”
The April handle generated $21.2m in revenue, down from $31.7m in March. New Jersey's online sportsbook brands continue to drive the most action, accounting for $253.97m, or 81 per cent, of total bets in April.
FanDuel Sportsbook/PointsBet and Resorts/DraftKings continue to dominate the online market, accounting for 45 per cent of the state’s online gross revenue in April. FanDuel generated $8.8m in online gross revenue, down 34 per cent from $13.3m in March. Rival DraftKings – which represents more than 90 per cent of Resorts’ online revenue – fuelled Resorts’ $4.8m April, down 34.5 per cent from $7.3m in March.