New Jersey sports betting sets another monthly revenue record

Sports betting in New Jersey is a gift that just keeps on giving to the Garden State and its wager-happy residents. That fact was made clear when the New Jersey Division of Gaming Enforcement (DGE) released its figures for March 2019 sports betting revenue which, once again, set a new record for the state.
According to the DGE, Garden State sports betting outlets took in a record $31.9 million in profits during March, a month that includes the NCAA Men’s Basketball Tournament (March Madness as its known). The previous record was set back in September when New Jersey sportsbooks earned $24 million. By way of comparison, February, which includes the Super Bowl but is otherwise pretty light on US sports, brought a profit of only $12.7 million.
That beefy profit came off of a handle that was $373.4 million strong, which, it turns out, was not even the largest handle New Jersey has seen. Back in January, a month that included the NFL playoffs, NJ sportsbooks handled $385 million in wagers.
It’s worth noting, as our colleagues at CalvinAyre.com point out, that the March numbers include a number of pending wagers. That means that the final revenue number might not be as large as it seems, though it remains impressive.
So where did all that March Madness cash go? A good chunk of it, about 45 percent, went to the FanDuel outlet at the Meadowlands. Their share of the pot came out to about $17.6 million. Resorts Digital Gaming, which is run by DraftKings, came in second with $7.3 million in revenue.
While March was gloriously mad for New Jersey sportsbooks, it’s likely the last crazy month they’ll see until football starts up again in August.