Figures released by the New Jersey Division of Gaming Enforcement (NJDGE) show that New Jersey sportsbooks accepted $372.5m in sports bets in March.
The total wagered in March is a significant increase on the $320m wagered on sports in February.
For the third consecutive month, over 80% of sports wagers were placed via online and mobile devices, further highlighting the importance of online sports betting.
In terms of revenue, the figures show that New Jersey sportsbooks held on to over $31.7m which translates into an 8.5% hold. March’s revenue is a significant increase on February’s revenue of $12.7m.
Looking closer at the figures, FanDuel Sportsbook, which is partnered with Meadowlands, generated $13.3m in revenue through online sports betting. The land-based sportsbook at Meadowlands generated $4.2m in revenue. When combined, the land-based and online sports betting operations generated a total of $17.6m in revenue.
FanDuel’s revenue made up just under 55% of the state’s sports betting revenue in March. This marks the second consecutive month that the fantasy sports operator turned online sportsbook has come out on top of the New Jersey sports betting market.
DraftKings Sportsbook, which operates through a partnership with Resorts AC, generated an online revenue of $7.2m while the land-based sportsbook at Resorts generated just $85,105. The combined online and land-based figures add up to $7.4m in revenue.
The increase in New Jersey’s sports betting figures can be attributed to March Madness. This was the first March Madness tournament to take place since sports betting was legalized last year.
For a closer look at each state’s sports betting figures, check out our stats page.