Quick reminder on handle vs. revenue: The term “handle” represents the total sum of all wagers placed. “Revenue” is what’s left over after sportsbooks pay out the winning tickets — the gross profit.
NJ data is separated by operator, of which there are currently three. The revenue numbers break down like this, bearing in mind that the Ocean Resort Casino just opened on June 28:
Monmouth Park: $2,279,166
Borgata: $986,831
Ocean Resort Casino: $192,671
Betting handle is also itemized by sport and type:
MLB: $10.1 million total, $130,177 futures
Soccer: $2.2 million total, $500,247 futures
NFL: $280,611 futures
Land-based sports betting revenue is taxed at a rate of 8.5 percent, so the state of New Jersey earned just less than $300,000 across the reporting period. Projections vary, but some lawmakers expect to realize annual tax revenue approaching $100 million.
If we extrapolated the NJ sports betting numbers across a 30-day month, they’d look like this:
Handle: $28,958,151
Revenue: $6,103,532
Taxes: $518,801
The reporting method makes direct comparison a little tricky, but you can see the recent data from other states here:
NJ data is separated by operator, of which there are currently three. The revenue numbers break down like this, bearing in mind that the Ocean Resort Casino just opened on June 28:
Monmouth Park: $2,279,166
Borgata: $986,831
Ocean Resort Casino: $192,671
Betting handle is also itemized by sport and type:
MLB: $10.1 million total, $130,177 futures
Soccer: $2.2 million total, $500,247 futures
NFL: $280,611 futures
Land-based sports betting revenue is taxed at a rate of 8.5 percent, so the state of New Jersey earned just less than $300,000 across the reporting period. Projections vary, but some lawmakers expect to realize annual tax revenue approaching $100 million.
If we extrapolated the NJ sports betting numbers across a 30-day month, they’d look like this:
Handle: $28,958,151
Revenue: $6,103,532
Taxes: $518,801
The reporting method makes direct comparison a little tricky, but you can see the recent data from other states here: