The latest monthly reports from the Office of the Attorney General in New Jersey show that the state’s licensed casinos, racetracks, and sportsbooks reported revenue of $359.3 million, up 119.8% on the $163.5 million for the same month last year.
New Jersey sports betting revenue increased the most with local gamblers placing $859.6 million in sports wagers during March, an increase of 13.5% on February’s handle of $743 million. Retail bets made up $79.5 million of that figure with the remaining $780.1 million coming through online sportsbooks.
Sports betting revenue for operators amounted to $60.8 million which was a 360.9% increase on the revenue generated in March of last year and nearly $14 million on February’s figure.
The state’s sports betting handle for March is significantly less than the $1 billion handle that many industry experts predicted. In fact, the handle of $859.6 million didn’t even come close to beating the state’s current record sports betting handle of $996 million posted in December of 2020.
Online gaming revenue reached a record $113.7 million with online slots generating the lion’s share at $111 million. This marked a 75.4% year-over-year increase on the $64.8 million in revenue generated in March 2020.
This is only the second time that the New Jersey online casinos have broken the $100 million revenue barrier — the first was in January when online casinos generated $103.8 million in revenue.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.