A lull in the sports schedule, minus football and college basketball led to a down month for New Jersey and Michigan according to reported sports betting numbers from the month of April.
In Michigan the betting handle in April was $274.2 million, while revenue was reported at $21.9 million. The betting handle was down 26 percent from the $383.7 million reported in March, while revenue was down 38 percent from $35.2 million.
How much did New Jersey sports betting handle fall?
As usual online betting dominated the sports betting landscape in Michigan with 91 percent of all bets being placed online. The most popular sportsbook in the state was FanDuel sportsbook which took in 27 percent of all bets placed for a $74.2 million handle.
Following FanDuel were BetMGM and DraftKings in a tie, each with 22 percent of all bets. Barstool Sportsbook came in fourth place in Michigan with 13 percent share of the handle. (See also SugarHouse sportsbook NJ numbers and BetRivers Michigan details.)
In New Jersey they reported the largest betting handle in April among all states that have reported so far. The handle for the Garden State in March was $748 million. That was down from the $859.6 million they reported in March, but still up considerably from the handle reported in April, 2020 when the first wave of the pandemic resulted in a lowly $54.6 million handle.
Just like in Michigan, mobile betting also made up 91 percent of all bets placed in New Jersey. Reported revenue in New Jersey for the month was $54.8 million. Leading the way in revenue was the Meadowlands which partners with FanDuel and PointsBet, with $29.1 million. Nearly 90 percent of that revenue belonged to FanDuel.
Resorts Digital, which partners with DraftKings and FOX Bet, reported $12.4 million in revenue, with the majority coming in through DraftKings. In third place in New Jersey was the Borgata and BetMGM with $6.8 million. The other six operators in New Jersey combined for just over $6 million.
April’s drop in handle in New Jersey could become a regular occurrence, not only because summer is the slow period for sports betting. New Jersey also must worry about the eventual launch of mobile betting in New York.
It’s estimated that between 18 and 25 percent of New Jersey’s handle come from bettors in New York. Once mobile sports betting becomes legal and available in New York, New Jersey could start to lose those customers.