New Jersey sportsbooks report March handle of $860m, Borgata tops iGaming market
New Jersey sportsbooks saw March handle of $860m with more than half of sports wagers coming by way of basketball.
Revenue for the month was $61m, an improvement of 31.5% from February and a 361% year-on-year increase from March 2020, when the Covid-19 pandemic halted sports.
New Jersey collected $7.7m in sports wagering taxes for the month.
The NCAA Tournament was largely responsible for the $442m wagered on basketball. Sportsbooks held on just 3.5% of basketball wagers.
Online wagers accounted for 91%, or $780m, of the month’s handle, while retail sportsbooks reported $80m in bets. March generated the highest retail sportsbook handle since January 2019.
Meadowlands, which primarily partners with FanDuel as well as PointsBet, was the month’s big winner, bringing in revenue of $31.2m.
Resorts Casino Hotel, partners with DraftKings and Fox Bet, finished runner-up with win of $14.8m, while Borgata/BetMGM was a distant third with revenue of $6.6m.
New Jersey’s online casino games and poker market continued its upward trajectory last month, producing revenue of $113.7m, a 75% increase y-o-y. The March iGaming revenue haul tops New Jersey’s national record of $104m set in January 2021.
Borgata overtook Golden Nugget for the leading in online casinos with win of $36.2m, compared to Golden Nugget’s $31.8m.
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