Analysis: NY Effect More Apparent In Latest NJ Sports Betting Report?

New Jersey sportsbooks reported $546.8 million in handle for August, down 17.7% from last year. Revenue hit $65.3 million, for $8. 3 million paid in taxes. August marked the fourth consecutive month of year-over-year handle declines for NJ.

Montana and New Jersey are the only states with a decline in sports betting handle compared to last year. Pennsylvania sportsbooks saw a dip in June but reported handle growth in May, July and August.

Hold was 11.9% in August in New Jersey. It was the first time since September 2018 hold crossed 10%. There was $531.2 million in completed bets in the state in that month. Most of the money was probably from NFL betting.

New Jersey sports betting revenue tops $2 billion for the first time since PASPA. Nevada, Pennsylvania and Illinois are the next closest states.