New Jersey Sports Betting Handle Bounces Back Above $1B in March

New Jersey Sports Betting Handle Bounces Back Above $1B in March
By Lou Monaco
Fact Checked by Pat McLoone

It was its own version of March Madness in Nwe Jersey sports betting and internet gaming with increases across the board.

The official figures were released by the state’s Division of Gaming and Enforcement (NJDGE) on Monday.

With the NCAA men’s college basketball tournament the focus for the month, New Jersey betters delivered in a big way. The state’s total monthly handle was $1.12 billion, a 13.7% increase from February’s $985.57 million and up 30.4% over March 2021.

Mobile sports wagering in the month was more than $1.04 billion, a solid increase of 15.8% over February’s $899.6 million and up 33.5% over March 2021 ($780.1M).

It was the sixth month in seven where New Jersey sports betting topped $1 billion in handle.

New Jersey Sports Betting, March vs. February

Total handle Mobile handleRevenue
March $1.121B $1.041B $66.404M
February $985.568M $899.632M $30.873M
Change Up 13.7% Up 15.8% Up 115.1%

Here are three takeaways from the March betting figures in New Jersey:

Mobile Nearly 93% of Market

"With New Jerseyans betting over $1 billion on sports last month, it's clear that the practice is only growing in popularity,” said Martin Lycka, senior vice president for American Regulatory Affairs and Responsible Gambling for Entain, one of the largest online gaming companies in the world.

“It's crucial that operators continue to promote responsible gambling and protect their customers as sports betting continues to grow throughout the country in a sustainable manner."

The month’s sports betting revenue was $66.4 million, a 115.1% increase over February’s $30.87 million and up 9.3% from this time last year.

Mobile represented 92.9% share of the sports betting market in March.

Basketball (pro, college) is the sport wagered on the most in the state, with a year-to-date completed handle of $1.72 billion.

In total, gaming revenue in the Garden State posted $423.67 million, an increase of 13.5% over February’s $373.27 million and up 17.9% over $359.3 million from March 2021. 

March’s internet gaming win registered at $140.66 million, an increase of 8.2% from February’s $129.98 million and up 23.7% over this time last year ($113.67M).

Back to the Billion Dollar Club

After falling just short in February, New Jersey posted a handle of more than $1 million. That means that, in six of the last seven months New Jersey has handled more than $1 billion in total, including a state record of $1.349 billion in January.

Total, Internet Gaming Revenue Show Increases

There were big increases in online table games and slots came through in March.

New Jersey is one of the states that has legal real online money casinos. The others are Pennsylvania, Connecticut, West Virginia, Michigan and Delaware.

Those states plus Nevada also offer online poker.

What Will New Jersey Betters Do Next?

With the two big betting events of the year (Super Bowl and March Madness) now complete, bettors will turn their sights to the NBA and NHL playoffs.

The MLB betting season is 10 games in and the new United States Football League (USFL) started last weekend with a state team, the New Jersey Generals, in the mix. The Generals lost their opener, 28-24, to the Birmingham Stallions on Saturday.

New Jersey Sports Betting, March 2022 vs. March 2021

Total handle Mobile handleRevenue
March 2022 $1.121B $1.041B $66.404M
March 2021 $859.618M $780.145M $60.755M
Change Up 30.4% Up 33.5% Up 9.3%

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Contributors

Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.

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