With an amazing 34% increase in revenue YOY, New Jersey celebrated its tenth month of solid growth last month. According to the figures released by the state’s Division of Gaming (DGE), the total gaming revenue soared to $294 Million from $218.5 Million in March 2018. These figures take into account, Sportsbook, Poker, Online gaming, and of course, brick and mortar casinos. As we recently talked about online revenues, let’s take a closer look at the overall performances of Sportsbetting in the garden state. After all, it’s still a new market that is worth keeping an eye on.
Without a doubt, March Madness brought a lot of NCAA men’s basketball fans in NJ. And none other than Betfair’s FanDuel can testify to that. Indeed, the sportsbook operator racked up an impressive $13,322,133 last month alone. Which, is almost twice the amount of its DFS competitor, DraftKings, who generated $7,278,126 in March. Other than that only two other sportsbooks in NJ broke the million-dollar threshold.
And to be frank, March sportsbook performances are quite astonishing. Especially after considering that last month most operators lost a lot of money after the Super Ball. In fact, if you remember not long ago, we reported that the super ball was quite damaging for the finances of New Jersey Sportsbook operators who lost $4 Million.
Respectably, there’s an Atlantic City and an NJ crown. As for sports betting in the state, that goes to FanDuel, hands down. But in Atlantic City, the Borgata reigns supreme in all sectors. That’s right; they dominate in retail, online, and on-site sports betting and show up a revenue increase by 1.3% MOM.
To conclude, March wraps up the first fiscal quarter of the year and ultimately reveals how the sports betting market in NJ contributes towards the positive numbers. Looking ahead, we can’t wait to show April’s numbers in comparison. So stay tuned, we’ll be back in a few weeks with new details.