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Other states that have been taking bets longest also saw year-over-year declines.

Both opened more than a year after Indiana, which came a year after New Jersey, so the maturity of a market may have been a factor. We can’t be sure that the shifted NBA playoff schedule was the only reason for the year-over-year flattening - or decline - in every state that saw one. States that opened more recently didn’t see same declines The drop in basketball was 86% of the decline. Indiana didn’t take the overall handle haircut that Jersey did as a result of the shifted schedule (it was actually up 4% compared to last June). It went from making up 30% of handle to 17%. In Mississippi, where there is no online wagering, basketball handle for the month was again was cut in half, dropping to $4.4 million from $9.1 million the year prior. Baseball likely benefited there as well, with handle rising from $60.5 million to $84.6 million. It went from making up 31% of handle to 14%. Basketball brought in $36.4 million in bets in Indiana in June, or less than half of the $77 million it generated last June. The same dynamic played out in Indiana and Mississippi. But 29 fewer NBA Playoff games played an important role. Baseball was up $65 million year-over-year, so you can assume some of that basketball money simply migrated. The $114 million decline in basketball accounted for 90% of the drop in New Jersey handle from June 2021 to June 2022. That’s less than half what it was last June, when $190.9 million in basketball betting accounted for 25% of the state total. Basketball handle was $76.6 million in New Jersey last month, accounting for 12% of $634 million in handle. Only six states report handle figures by sport, and only three of those have reported June results at this point, but we still can get a window into the impact of that shift on betting patterns, which was massive.

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While last year’s sports calendar was relatively free of COVID interruption, it was impacted by the continuation of a massive NBA scheduling shift necessitated by the 2020 shutdown, which pushed the start of that season’s playoffs from April to August and the Finals from June to October.Īnyway, finishing late in 2020 meant starting late in 2021, which meant the playoffs began on May 22 and ran through July 20, putting a large swath of playoff games - 35 of 52 games - in, yes, June. Or, perhaps, it’s that something went on last year. handle for a month was lower than it had been a year earlier when negating the impact of newly opened states.īefore you write it off as a “summer thing”, consider that handle in May was up 26% compared to last May, even without counting New York, Arizona, Connecticut or Louisiana, which all opened this year. sports betting if it holds up - as it likely will - after the six remaining states (Illinois, Colorado, Virginia, Rhode Island, Wyoming and Arizona) report totals for the month. June was down 12% against June of 2021 in those states, a reversal that will mark a first for U.S. While the June drop follows the typical downward monthly trend sportsbooks expect as the sports calendar comes out of March Madness and into the summer, year-over-year numbers could be a sign of slowed betting activity. Handle fell only 1% from May to June last year. Handle has dropped a combined 17% compared to May in the 18 states that have reported results thus far, a considerable dip that follows an 11% decline in May and 19% drop in April. This June swoon is shaping up to be far worse than the last one.

Du Bois Deciphering a decline that probably wasn’t one

“When you have mastered numbers, you will in fact no longer be reading numbers, any more than you read words when reading books.

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He’s out playing in the surf for the next few weeks, so I’ll take a crack at it: Our sports marketing guru Terry Lefton often likes to open his weekly dispatch with a thoughtful quote.

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