The New Jersey Division of Gaming Enforcement reported $1.33 billion in sports betting handle for March on Tuesday, the fourth-highest total in 70 months of legal wagering in the Garden State.
Handle was up 29.6% compared to the $1.03 billion worth of wagers placed in March 2023. It was the seventh consecutive month New Jersey bettors have wagered over $1 billion — the longest such run in state history — and 17th time overall. It was also a 22.9% increase compared to the $1.08 billion handle recorded in February.
Adjusted gross sports betting revenue totaled $89.7 million, resulting in a 6.8% hold. Operator winnings were down 3.6% compared to 12 months prior as this year’s win rate was more than 2.3 percentage points lower. Thanks to the record-setting January haul of $170.8 million, the $328 million in revenue for the first quarter of 2024 is up 49.1% versus the same span last year.