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New Jersey Gambling Revenue: 3rd Highest Month Ever in March

Written by: Michael Savio
Published May 9, 2023
2 min read

New Jersey was one of the very first states to go all in on sports betting after PASPA was overturned in 2018. March 2023 was the third-best month of revenue ever, with a reported $93 million. That allowed $11.9 million to be collected by the state, with online bets accounting for about 95% of the taxes.

New Jersey Gambling Revenue: 3rd Highest Month Ever in March

Sports Betting NJ a Routinely Strong Market

No one should be surprised that March was a big month, with the NCAA Tournament driving a lot of betting traffic all across the country. The total New Jersey handle was just over a billion dollars, with over half of that coming from college basketball betting alone.

Parlays were the second most prominent bet type, with them accounting for over $200 million of the betting handle. Baseball started and was in spring training and had almost $20 million in bets placed in March. Surprisingly, spring football leagues only accounted for $2 million of the betting handle, meaning spring training baseball had ten times the amount of betting money bet on it.

Key NJ Betting Stats

  • Total March Gaming Revenue: $441,021,278

    • 15% increase over 2022

  • Total Year-to-Date Gaming Revenue: $1,336,454,736

    • 13.4% increase over 2022

  • Total March Sports Wagering Handle: $1,025,779,225

  • Total Year-to-Date Sports Wagering Handle: $2,955,417,869

NJ Market Continually Growing

As other states continue to legalize and launch sports betting, it would be logical that sports betting handles and tax revenues could go down in New Jersey. States near New Jersey to legalize recently include Massachusetts, New York, Maryland, and more. Each of those states has launched within the last year.

Even with that, New Jersey has still had a year-to-date handle from Q1 of this year, growing over ten percent from last year. Even with more markets legalized, the New Jersey sports betting market is strong, and continued growth seems to be the trend in the Garden State.

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Michael Savio

Sports Betting & Gambling Industry Analyst

Expertise:
Gambling News
MLB
NCAAB
Online Sports Betting
Michael is an avid sports fan and a veteran bettor from Milwaukee. He learned the trade from his grandfather in Las Vegas as a kid and has turned that into a successful career. He cheers for all Wisconsin pro teams along with his Alma Mater Arizona State. He specializes in baseball betting, but has experience in football, basketball, and hockey as well. When he isn’t pouring over stats, he’s spending time with his two young children.
Nationality: American
Education: Bachelor of Political Science
Favourite Sportsbook: Caesars Sportsbook
Favourite Casino: BetMGM Casino
Experience:
3 years
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