New Jersey Sports Betting Hits $1.11B in March
New Jersey’s sports betting market took a hit in March, with a total handle of $1.11 billion, down 16.5% from March 2024’s $1.33 billion.
A Softer Month for Sportsbooks
March marked the sixth time in seven months that wagers topped $1 billion. Online bets accounted for $1.06 billion, while retail sportsbooks handled $44.4 million.
Gross revenue, however, fell 20.5% year-over-year to $71.3 million, with online platforms earning $68 million (down 20.6%) and retail at $3.3 million (down 17.3%).
The New Jersey Division of Gaming Enforcement reported these figures, noting a lack of NCAA tournament upsets favored bettors, especially on moneyline parlays.
The drop reflects seasonal trends post-Super Bowl and a tough comparison to 2024’s robust March. Online betting continues to dominate, making up 96% of the handle.
Yet, six of the eleven online operators active last year saw revenue declines. Meanwhile, the state’s iGaming sector soared, hitting a record $243.9 million, up 23.7%, lifting overall gambling revenue 3.7% to $546.1 million.
Operator Performance Breakdown
FanDuel led online operators with $23.4 million in revenue, but that’s a 20.7% drop from March 2024’s $29.5 million. DraftKings bucked the trend, posting $19.9 million, up 13.4% year-over-year, narrowing the gap with FanDuel.
BetMGM shone brightest, jumping 35.8% to $8 million, a big win for the Borgata-partnered brand. Fanatics Sportsbook, a newer player, pulled $4.4 million, while Caesars and bet365 earned $3.2 million and $2.8 million, respectively.
ESPN BET and BetRivers also cracked seven figures, but Bally’s lagged at $172,200.
Retail betting showed mixed results. Meadowlands, tied to FanDuel, led with $2 million, up 8.2%. Borgata’s $308,400 revenue surged 114.1%, but Monmouth Park’s $432,400 fell 38.3%.
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