New Jersey sees online growth in April, though land-based revenue falls

The state has seen a significant increase in its sports wagering vertical, posting a 44% increase for April and 41% for the year so far.

The state of New Jersey has posted its gaming revenue report for April 2023, showing a 10% increase in total revenue annually – adding up to $462.7m.

The month saw sports wagering revenue soar by 44%, totalling $72.3m against 2022’s $50.3m. Meanwhile, the state’s internet gaming win also saw a steady increase, up 16% to $158.9m.

In sheer online terms, New Jersey performed well; however, it is a different story for land-based revenue, which decreased by 2%. Slots were primarily the cause of this, as the practice fell by 3% – decreasing by $5.5m annually.

So far for the year, New Jersey’s revenue is 12% up on the first four months of 2022, with sports wagering revenue up 41% – totalling $292.2m, a difference of $84.4m.

New Jersey sports betting

In the first four months of the year, every sector of New Jersey’s gaming figures has grown, with the aforementioned slots up 5%, even with the state’s overall land-based casino win percentage.

With online sports betting growing at a substantial rate, five years after PASPA was overturned by the Supreme Court, the biggest rise in sports wagering win within the vertical comes from parlays, which totalled $171.2m, 19% higher than in 2022. Basketball came in second, with a total of $56.2m – though it saw the least growth against other sports at 3%.

The graph below shows a breakdown of the year-to-date sports wagering win.

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