Tuesday, February 27, 2024

New Jersey Sports Bets Set Record

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The numbers from March are in, and New Jersey sports bets have broke the $1 billion mark. That’s the sixth consecutive month that the state has been able to break the billion dollar mark. Casinos in the state handled $1.12 billion in bets, driven mostly by the NCAA March Madness basketball tournament, according to the state Division of Gaming Enforcement.

Ironically, bettors in New Jersey could not place money on St. Peter’s of Jersey City, as their is a prohibition of betting on in-state collegiate programs. St. Peter’s became the first 15 seed to advance to the Elite Eight when they beat both Kentucky and Purdue. Still, the Tourney was the main draw in total wagers.

Meadowlands Racetrack was the leader of the pack for New Jersey sports bet, taking in over $36 million. Resorts International were a distant second with nearly $12 million. Then it was the Borgata with almost $11 million.

New Jersey sports bets and Atlantic City casinos have now won nearly $1.1 billion in revenue this year. And while only $600 million of that is from land based gaming, online casinos have grown by well over 20% from the year before.

The New Jersey Division of Gaming Enforcement is a law enforcement agency and the investigative arm of the casino regulatory system responsible for enforcing the Casino Control Act. DGE’s workforce consists of attorneys, investigators, and accountants, and is supported by New Jersey State Troopers and DCJ prosecutors.