New Jersey’s robust betting handle in January was a surprise, since that month marked the launch of mobile sports betting in neighboring New York State.
But the February handle also was strong ($985.6 million), and so was March and its Madness at $1.12 billion.
And now that the state Division of Gaming Enforcement released the April figures on Monday, it’s become even clearer that New Jersey is avoiding a major cannibalization of betting handle by New York even though its residents no longer need to cross the Hudson River to bet. So, no 20% to 25% decline after all.
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The $926.9 million wagered in New Jersey last month fell short of the billion-dollar numbers produced in September through December 2021 as well as January and March 2022, but it compares favorably to previous years.
In COVID-impacted 2021 and 2020, the April numbers were $748 million and a paltry $54.6 million, respectively. In April 2019, during the first full year of legal wagering, $313.7 million was bet in the state at the various regulated sportsbooks.