New Jersey Sports Betting Powers to huge March numbers

New Jersey online sportsbooks roared back in March powered by college basketball’s March Madness tournament.

In figures released by the Garden States’ sports betting regulator, the New Jersey Division of Gaming Enforcement (NJDGE), New Jersey sportsbooks reported $859.6 million in sports betting handle, a monster increase on the mere $182 million handled last March, when the impacts of the global pandemic were at their most severe.

March 2019 a better comparison than March 2020

Chairman of the New Jersey Casino Control Commission, James Plousis, remarked that a more accurate comparison would be to March of 2019, a full year before the global pandemic reared its ugly head.

March 2021 is also a case for New Jersey’s online sportsbooks to make hay while the sun shines, as nearby neighbor, New York, has legalized online sports betting and will open online sportsbooks sometime in the next 12 months, expected to eat into the Garden State’s revenue numbers. Speaking of revenue, New Jersey’s sportsbooks recorded $60.7 million in March and paying out the state’s residents winning wagers and covering other expenses.

Those revenue numbers are up 31.5% from February ($46.2 million) and an increase of 360.9% from the March 2020 reported revenue of $13.2 million. The March 2021 revenue figure added up to $7.8 million in taxes to the state to pay for its impressive range of programs, services and infrastructure for the state’s residents. With these solid March revenue numbers, sports betting revenue over the first three months of 2021 for the Garden State sits at more than $189 million.

March Madness drives huge revenue numbers in NJ

As expected, basketball betting drove the New Jersey sports betting handle to its March heights, naturally led by the enormous popularity of college basketball wagering in the March Madness tournament. Unfortunately, the NJDGE does not breakdown the numbers between the NBA and college basketball in its sports betting handle reports, however, the numbers for basketball are impressive nonetheless with $434 million wagered on the sport for the month in the Garden State.

2021 Sports Betting Handle Breakdown by Sport in New Jersey

Basketball betting also leads the way for all sports betting in the Garden State so far in 2021 with $1.087 billion being wagered on hoops at both college and NBA level. Other popular sports and their revenue numbers for New Jersey in 2021 include;

  • Football (NFL & College Football) – $269 million
  • Baseball (MLB) – $4.5 million
  • Other sports (UFC, NHL, NASCAR, PGA Tour Golf etc.) – $641 million
  • Parlays Wagers – $560 million

As expected, parlay wagers, given their higher risk vs reward equation are the Garden State’s most profitable type of wagers for the online sportsbooks with a hold of an impressive 19%.

Sports bettors are reminded when looking to place their parlays, that most of the Garden State’s online sportsbooks generally feature some type of promotion that will decrease your betting risk on parlays with some sort of parlay insurance. Please check our regular weekly promotions updates for details.

How the Sportsbooks Fared in March 2021 in New Jersey

Remaining in the number one slot in the Garden State in March 2021, New Jersey’s leading online sportsbook license team was FanDuel and PointsBet, both operated under licenses hosted by the Meadowlands racetrack, recorded $31.2 million in revenue, more than 51% of the March numbers.

DraftKings and Fox Bet, both hosted under the Resorts license, finished in second place of New Jersey’s online operators with $14.8 million in revenue. BetMGM and Borgata combined for an impressive $6.6 million, while William Hill online sportsbook made revenue of somewhere in the region of $4.5 million across several licenses.

NJ Legal Betting Sites

Betting Site
Bonus
Brand Features
Review
Bet Now
888Sport
Risk Free First Bet up to $500
Risk Free First Bet up to $500
Read Review
Sugar House Sportsbook
100% Up to $250
100% Up to $250
Read Review
FanDuel
Get A $1000 Risk Free Bet
Get A $1000 Risk Free Bet
Read Review
Borgata Sports
Get $100 When You Bet $20
Get $100 When You Bet $20
Read Review
BetMGM Sports
Risk Free First Bet Up To $600
Risk Free First Bet Up To $600
Read Review
Caesars Sportsbook
First Deposit Bonus up to $300
First Deposit Bonus up to $300
Read Review
Unibet Sportsbook
$20 Free Bets
$20 Free Bets
Read Review
BACK TO TOP