March Madness Betting Pushes New Jersey To Big Handle

New Jersey sportsbooks saw $1.1 billion bet on sports in March 2022.
More than 90% of the total handle came from mobile and online sportsbooks.
March Madness betting carried the market, with over 17 million basketball bets in March.

TRENTON, N.J. – New Jersey sports betting fans wagered heavily in March 2022, clearing yet another billion-dollar betting handle month.

This is the sixth month in the last seven that sportsbooks saw over a billion wagered. New Jersey was yet against carried by mobile sportsbooks with the bulk of the wagers coming through local apps.

March Madness betting led to a big boost in wagers. New Jersey continues to thrive despite the looming threat of New York’s continued success.

March Madness Betting Dominates New Jersey

Thanks to the influx of wagers through the NCAA Men’s and Women’s Basketball Tournament, New Jersey was able to bounce back from the slight dip in activity in February.

March saw $1,120,904,954 in monthly handle, up 12.5 % from the $985.6 million wagered in February. Of the total betting handle, basketball saw 17,514,207 wagers. This was by far the most wagered on sporting event in March, with football seeing 10,458,977 wagers.

What truly dominated the market, however, is parlays which were responsible for 99,586,778 bets in March. In total, $681,175,537 has been wagered on parlays in the last year in New Jersey.

In terms of sports betting revenue, New Jersey sportsbooks recorded $157,473,641 held according to the official report.

Mobile Betting Still King

Sports betting in New Jersey was yet against carried by mobile sportsbooks. Operators saw $1,041,402,933 in total mobile handle (92%) compared to just $79,502,021 in retail wagers.

New Jersey’s market is expected to continue the rise in success as multiple sporting events are ongoing for the next few months.

The NBA postseason is in full swing, the MLB season is ongoing, and the NHL season is started to heat up in the standings.

New Jersey remains a major fixture in the US sports betting landscape. The market is showing no signs of slowing down.

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News tags: basketball | March Madness | New Jersey | New Jersey Division of Gaming Enforcement | Revenue

Giovanni Shorter

Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.