New Jersey Sports Betting Revenue Up In March

• The total sports betting handle in New Jersey for March was $859.6 million.
• New Jersey made $7.8 million in tax revenue from sports betting during March.
• The internet sports wagering handle for New Jersey was $780,145,392 fueled by March Madness betting.

TRENTON, N.J. – The New Jersey sports betting market features some of the highest-grossing sportsbooks in the US. The return of the 2021 NCAA Men’s Basketball Tournament drove the sports betting revenue up in March. Overall, the gambling industry in New Jersey has been strong with legal sports betting being one of the main reasons why.

New Jersey sportsbooks had a handle of $859.6 million in March. This is a 16% increase from New Jersey’s February sports betting handle of $742.9 million. Furthermore, New Jersey’s sports betting handle passed $2.5 billion only three months into 2021 which continues to show the power of this market.

The return of March Madness betting after a one-year hiatus due to the Covid-19 pandemic was the perfect storm for New Jersey sportsbooks that needed a bump after the short month of February and the end of the NFL season.

Basketball by far has been the most bet on sport in New Jersey with over $1 billion in wagers placed between the NBA and college basketball in 2021.

2021 New Jersey Handle Year-To-Date By Sport

• Basketball: $1.087 billion
• Football: $269 million
• Baseball: $4.5 million
• Other Sports (Golf, Tennis, etc.): $641 million
• Parlays: $560 million

While basketball has the highest handle currently once the NFL and college football seasons are underway expect football to make a strong push to overtake basketball in New Jersey.

New Jersey has firmly cemented itself as one of the premier sports betting destinations in the US and moving forward expect the state to continue to be one of the leaders in total handle.

The only thing potentially slowing down the roaring New Jersey sports betting market is the looming legalization of online sports gambling in the neighboring state of New York. This could cause a slight dip in the market but not enough to keep New Jersey from being a top-five sports betting market. Until New York launches its regulated online sports betting market expect New Jersey to continue to push towards $1 billion in sports bets in just one month.

All things considered, New Jersey might be on pace to finish with a total sports betting handle higher than the $6.01 billion in wagers sportsbooks saw in 2020.

News tags: College Basketball | COVID-19 | golf | March Madness | NBA | NCAA | NCAA Men’s Basketball Tournament | New Jersey | New York | NFL | tennis