In the latest bookie news, we now have a new record- again, for high revenues in New Jersey. The bookie business in New Jersey has the NCAA’s March Madness to thank. The New Jersey Division of Gaming Enforcement, or the DGE, shows sportsbooks in the state earning $31.9 million for the month of March. This is a huge jump, as the numbers is February were a mere $12.7 million.
The previous record that New Jersey has is a high of $24 million, which was back in September of 2018. Of course, the numbers may actually be different, since pending wagers or futures bets are counted as revenue. This could be especially true in March’s case.
Bookie Business in New Jersey
The NCAA March Madness does begin in March, but the final game happens on April, so wagers placed during March that covers the April game is still counted in the DGE’s numbers. The betting handle for March was $372.4 million. This is still lower than the numbers for January, which was at $385 million.
Out of the $372.4 million, $288.3 million, or 80% of the handle, were through online wagers. Looking at the numbers, the 80% percentage of online wagers is pretty consistent throughout the year. Seeing the numbers on online bets, apps or online sportsbooks is a great way to earn money. You can check out some bookie pay per head reviews to find out where to start.
As for online gambling, the generated revenue of New Jersey operators are at $39.1 million for the month. This is more than 50% higher than the year-on-year numbers. Its also the highest for the year so far, beating January’s by $5.5 million. Of course, we could see high numbers for April as well, courtesy of basketball again, with the NBA postseason.
