March was a bumper year for revenue in the gambling industry across several US states. New Jersey was no different, with record numbers recorded. We discuss this in the article below.
New Jersey had a huge month in March when it came to gambling figures. Online casinos accounted for $243.9M in revenue, breaking all previous records. This saw iGaming totals climb by 23.7% overall. All of this was despite a decline in land-based casino revenue and sports betting.
March Revenue Growth for New Jersey Gambling
The total amount of revenue generated across all gambling verticals amounted to $546.1m in March. According to the Division of Gaming Enforcement, this was a 3.7% increase year upon year. Much of this was pushed by the online sector, which has risen 23.7% since last year.
New Jersey has a healthy and competitive online sportsbook field, and many of these operators are tied to online casinos. Top names like BetMGM and FanDuel provide a range of offers to patrons in the state. These attractive bonuses have helped grow the number of those using online casinos. Being able to check over the providers based on a range of factors like payment methods and game selection has also improved the quality. You can easily find one on this page that aligns with your needs.
In terms of revenue, it was FanDuel that made the most money with $52.3m amassed. DraftKings followed just behind at $49.6m. BetMGM generated $31.6m but had the most growth at 42.8%, showing its commitment to quality provisions in the state.
The Decline in Land-Based Casinos and Sports Betting
All of this was set against a marginal decline in land-based casinos and even sports betting itself. The former saw a drop of 3.7% to $230.9m. Table games were the largest loss, with a decline of 14.6%. It was only the slot game market that improved, reaching 0.5% to $173.6m.
Of all the physical casinos, The Borgata Hotel Casino & Spa was the biggest draw, with $58.4 million made. Hard Rock Atlantic City also managed to earn $44.5m. These two casinos were the only ones to post an increase in sales, with 3.3% and 0.2% respectively. Harrah’s, Ocean Casino Resort, Golden Nugget, and Ceasars Atlantic all posted losses of varying degrees.
Surprisingly, the levels wagered on sport also declined. This should have seen a boost from the March Madness event, but even this failed to buoy support. This is a trend that has been seen over the past few months across states. Revenue fell to $71.3m, down by 20.5%. Most of this was from online wagering, with a large drop in the use of retail betting.
Most worrying is the huge decline in numbers bet at racetracks. Meadowlands Racetrack was down 11.8% from the previous year. It is unknown if others also declined, with some not reporting their earnings for the month.
Despite this reduction, new companies are still entering the lucrative market. BetFanatics and Bally Bet had their first March in the state, with the first making $4.4m in profit. This shows that there is faith from businesses in the sector, despite a poor March.
March Gambling Revenue Increases Across the US
March saw huge increases in gambling revenue across the US. In most states, it followed a similar pattern in which retail sectors were down, with online sectors moving up.
Pennsylvania was one of the biggest winners, managing to bring in $574.5 million across all of its gambling verticals for the month. Its previous high had been $554.6 in March 2024. Yet again, online casinos were the big draw, having increased their income by 24.7% on the same month in 2024. When it came to sports betting alone, the state managed to make $842.9 million in revenue.
Michigan grossed $293.5 million. This was an increase of just over 9% since February. This state is a growing market, despite being a smaller one. Their online casino sector made vast improvements, beating their monthly record. This stood at $ 248.2 million and was set in January, but was surpassed at $260.5 million. Just like in New Jersey, sports betting also dropped here by 25.1%.
The History of Gambling in New Jersey
New Jersey has had a long history with gambling and casinos, typically being quite liberal to the prospect of it. However, by no means does this mean its laws have been lax. They are one of the most robust in the US, with tight regulations on what can and can not be done. Typically, it has also benefited from many of the strict rules prevalent in the state of New York and has been a destination where the occupants of the state have come to holiday and do some betting along the way.
Most of this had been restricted. In the seventies, a vote was made to ban casinos, then overturned two years later, with gambling limited to Atlantic City. This made it the first place to have casinos outside of Las Vegas, Nevada, and for some time, it was attempting to give the town a run for its money as the gambling mecca of the United States.
In 2018, the go-ahead was given for legalized sports betting in the state. This allowed casinos and racetracks to seek approval for online gambling operations. This is why even today, you will see a lot of major operators paired with the racetracks.
Many of its casinos also operate on the sites. Online gambling had been given the go-ahead as far back as 2011. However, as gambling was only allowed in Atlantic City, the law stated that the computer servers must be housed in an Atlantic City casino.
Luckily, gambling online in the state is now much easier. With so many of the big names, it is hard to find a sportsbook online that does not suit your needs. It is best to look around before diving in headfirst. See which sites have the best odds and markets, then look at the introductory bonus. This will allow you to try it out without risking your money for some time, so you can decide if it is the right one for you.
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