March may not have been a record-breaking month for gambling in New Jersey, but it was profitable for New Jersey sportsbooks.
For the month, NJ sportsbooks reported $93 million in revenue on more than $1.025 billion in bets, according to data from the state Division of Gaming Enforcement (DGE).
Sports betting revenue for March was the third-highest monthly total in the state’s five-year history. Most bets came from those betting on the Men’s and Women’s NCAA Basketball Tournaments.
New Jersey gambling as a whole generated $487.3 million in revenue, up from the $412.2 million reported in February.
New Jersey gambling numbers breakdown for March 2023
According to the DGE, the big winner for March was New Jersey sports betting, which totaled $93 million compared to the $55 million recorded in February.
As for New Jersey online casinos, they generated $166 million, up 17.8% from March 2022.
Year-to-date figures show sports betting is up almost 40%, while online casinos are up 12.9% from the same period last year. Total gaming revenue from casinos, racetracks, and their partners is $1.3 billion. This is a 13.4% increase from the $1.1 billion reported in the prior period.
March 2023 revenue by sector:
- Slot machines: $165 million
- Table games: $64 million
- Casino: $229 million
- Online casino: $166 million
- Sports betting: $93 million
- Total gaming revenue: $487.3 million
February 2023 revenue by sector:
- Slot machines: $159 million
- Table games: $55 million
- Casino: $214 million
- Online casino: $142.5 million
- Sports betting: $54.6 million
- Total gaming revenue: $412. 2 million
March YTD revenue:
- Slot machines: $475,912,602
- Table games: $179,378,868
- Casino: $655,291,470
- Online casino: $461,171,608
- Sports betting: $219,991,658
- Total gaming revenue: $1,336,454,736
Online sports betting in New Jersey continues its dominance
In March, over 95% of the total amount gambled was done so through online platforms, according to DGE data. In actuality, New Jersey online sports betting revenue ($95.7 million) exceeded the reported total due to retail sportsbooks posting losses.
Year-to-date, over $2.955 billion has been gambled on sports in New Jersey. As a result, total sports betting revenue sits at almost $220 million, up from $157 million during the same time last year.
Since 2018, the lifetime sports betting handle is now over $36.68 billion. For comparison, over the same five-year period, Nevada’s sports betting handle is slightly over $30 billion.