New Jersey March Sports Betting Revenue Sees 31.5% Jump

New Jersey March Sports Betting Revenue Sees 31.5% Jump
© USA Today

With New York starting the official process to launch online sports betting, New Jersey’s March wagering figures show why its neighboring state should expedite the process.

New Jersey’s total sports betting handle in March was $859.6 million, according to figures released Friday by the state. That was up 15.7% from February ($742.9 million). And it was an increase of 372.6% from March 2020 ($181.9 million) when sports shut down because of the coronavirus pandemic.

CHECK OUT: The top New Jersey sportsbooks

Impressively, the month’s sports betting revenue was $60.8 million, up 31.5% from February ($46.2 million) and up 360.9% from March 2020 ($13.2 million). The March 2021 revenue figure resulted in about $7.8 million in taxes to the state. The state’s sports betting revenue over the first three months of 2021 is $131.3 million.

Traditionally, February has always been a slow month after the Super Bowl with the anticipation of March Madness on the horizon for big action from bettors.

On April 7, New York mobile sports betting revenue was included in the state budget for fiscal year 2022. The state gaming commission will pick two operators through a bidding process. Then, the “operators” each get to pick what appears to be two “skins.” It remains to be seen what New York online sports betting in any form will do to New Jersey’s handle and revenue.

New Jersey Sports Betting, March vs. February

Total handle Mobile handleRevenue
March $859.618M $780.145M $60.755M
February $742.953M $689.249M $46.214M
Change Up 15.7% Up 13.2% Up 31.5%

Other Key Numbers in New Jersey

The March numbers from the Division of Gaming report also showed:

New Jersey mobile handle for March was $780.1 million, up 13.2% from February ($689.2 million) and up 377.3% from March 2020 ($163.4 million). Mobile represented 90.8% share of the sports betting market in March.

The state’s total gaming revenue was $359.3 million, up 24.6% from February ($288.3 million) and up 119.8% from March 2020 ($163.5 million).

New Jersey’s iGaming win was $113.7 million, up 21.2% from February ($93.8 million) and up 75.4% from March 2020 ($64.8 million).

New Jersey Sports Betting, March 2021 vs March 2020

Total handle Mobile handleRevenue
March 2021 $859.618M $780.145M $60.755M
March 2020 $181.909M $163.449M $13.181M
Change Up 372.6% Up 377.3% Up 360.9%

Other States Reported Strong March Numbers

New Jersey's total in March, along with other states that have reported their figures and seen increases, put the national handle on track to top $4 billion again.

Pennsylvania also reported its March gaming figures Friday and had a total sports betting handle of $560.3 million. That was a 9.97% increase over last month’s $509.5 million, and it was up 326.6% from March 2020 ($131.3 million).

Indiana reported a total handle of $316.7 million in March, which was a 15.6% increase from the $273.9 million handle in February. The state hosted the entire 2020 NCAA Men’s Basketball Tournament.

The total sports betting handle in Iowa for March came in at $161.4 million, which was up 12.4% from February’s $143.6 million and a substantial increase of 724.6% from March 2020’s $19.6 million.

West Virginia reported $50.703 million in total sports handle for March, which was up 32.7% from the $38.212 million taken in during February. During the NCAA Tournament’s first week, ending March 20, the state took in $10.3 million in handle, with $7.3 million of that coming via mobile wagering.

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