March Madness Significantly Boosts New Jersey Sports-Betting Revenues

The effects of the NCAA Men’s Basketball Tournament were on full display in New Jersey, as the state’s sportsbooks saw a 148 percent increase in March sports-betting revenue over the prior month.

Online and land-based sportsbooks brought in a total $31.7m in revenue in March, a month which featured the opening two weekends of the first NCAA tournament following the demise of the Professional and Amateur Sports Protection Act (PASPA) in May 2018.

The state needed only three months to bring in more than $1bn in betting handle in 2019, including $372m in March.

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