The latest monthly revenue report from the New Jersey Division of Gaming Enforcement shows that gambling revenue in the Garden State jumped by 17.9% year-on-year to $423.7 million during the month of March.
March’s figures represent an increase of 13.5% on the $373.3 million reported in the month of February.
Sports betting activity surging once again
Last month’s dip in revenue proved to be an anomaly as New Jersey sports betting operators reported another stellar month accepting over $1.1 billion in wagers. Of that figure, just over $1 billion came through the state’s mobile sportsbooks. Both retail and mobile sportsbooks combined to generate over $66.4 million during the month of March. This was an increase of 9.3% on the same period in 2021 and an increase 114.8% compared to the $30.9 million reported in February.
Basketball proved to be the most popular sport at New Jersey sportsbooks as the March Madness tournament resulted in over $17.5 million wagered on the sport. Meanwhile football attracted just over $10 million in wagers while parlays accounted for $99 million of all wagers made.
Online casino gaming sets all-time record
The month of March was a hugely successful one for online casino gambling in New Jersey as operators reported combined revenues of $140.7 million a jump of 23.7% on the same period in 2021, and 8.23% on the previous month. This also set an all-time record for the most online gambling revenue generated in a single month comfortable beating the previous record of $137.8 million set in January of 2022.
The Borgata was the online gambling market leader reporting over $41.3 million in revenue for the month. Its nearest competitor Golden Nugget Online Gaming posted revenues of $38.2 million.
Land-based casinos enjoy another stellar month
Revenues at land-based casinos continue to grow month-on-month as casinos reported combined revenues of $216.6 million for March 2022. This was an increase of 17.2% year-on-year and a jump of just over $4 million on the previous month. Of that total, $156.7 million came from slot machines while $59.8 million was generated by table games.
The Borgata continues to dominate the New Jersey gambling industry reporting over $54.9 million in US legal online casinos win for the month of March. It’s nearest competitor Hard Rock reported just over $39 million for the same period.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.