After March Madness, New Jersey sports betting took a $59 million dip in April
New Jersey’s online and retail sports betting declined 16% in April in the aftermath of college basketball’s March Madness.
New Jersey’s online and retail sports betting declined 16 percent in April in the aftermath of college basketball’s March Madness. The state’s sportsbooks accepted $313.7 million in bets in April, down from $372.5 million in March, according to data released Tuesday by state regulators.
Sports betting generated $21.2 million in revenue, down 33 percent from $31.7 million in March, according to the New Jersey Division of Gaming Enforcement.
Sportsbooks accounted for about 8 percent of the total of $265.4 million in gambling revenue reported by casinos in April, which was up almost 24 percent from a year ago. The state launched sports betting in June, and two new casinos in Atlantic City opened last summer.
Bettors have now wagered $2.6 billion in sports bets since New Jersey became the first state outside of Nevada to launch sports betting in response to a U.S. Supreme Court decision a year ago that legalized sports betting.