March Madness leads to gladness for New Jersey sports books
ATLANTIC CITY, N.J. (AP) — A blizzard of bets from college basketball fans in March helped New Jersey to its second-highest sports betting total, as March Madness translated into March Gladness for sports books.
More than $372 million in sports bets were made in the state last month. That brings New Jersey’s total since sports betting began last June to over $2.3 billion.
The extra revenue helped Atlantic City’s nine casinos increase their total revenue to nearly $294 million in March, up more than 34% from a year earlier.
Only three casinos reported a revenue decline that month, with six showing an increase.
Several sports books said the number of bets on the college basketball tournament and their dollar amounts exceeded that from the NFL’s Super Bowl.