The monthly total marked a 3.7% increase year-on-year and a 12.6% rise from February, with online casino gaming emerging as the key growth engine.
New Jersey’s gambling industry reached new heights in March, generating a record $546.1 million in total revenue—driven overwhelmingly by a $243.9 million haul from iGaming, according to figures released by the New Jersey Division of Gaming Enforcement on 16 April.
The monthly total marked a 3.7% increase year-on-year and a 12.6% rise from February, with online casino gaming emerging as the key growth engine. iGaming revenue jumped 23.7% compared to March 2024, marking just the fourth time it has outpaced all other segments.
Sportsbooks Struggle Despite March Madness
While online casino revenues soared, sportsbooks saw a significant dip. Online and retail sports betting combined for $71.3 million in revenue—down 20.5% year-on-year—largely due to predictable NCAA Tournament outcomes. All four No. 1 seeds made it to the Final Four for only the second time in history, resulting in fewer betting upsets and lower bookmaker margins.
Handle also declined to $1.11 billion, a 16.5% drop from the same period last year.
FanDuel led the sportsbook market with $23.4 million in March revenue, down from $33.9 million in February but still top overall with $110.4 million in year-to-date earnings. DraftKings followed at $19.9 million, ahead of BetMGM ($8 million), Fanatics ($4.4 million), Caesars ($3.2 million), and bet365 ($2.8 million). Meadowlands topped retail operators with $2 million in revenue.
iGaming Dominates
The dominance of iGaming was clear. FanDuel and Golden Nugget Atlantic City led the way with $52.3 million in combined online casino revenue—a 25.7% increase year-on-year. DraftKings and Resorts Casino Hotel followed closely at $49.6 million (up 20.3%).
BetMGM and Borgata combined for $31.6 million, with Borgata’s own platform adding $22.4 million. Caesars and Tropicana Atlantic rounded out the top five at $15.7 million.
Of the total iGaming figure, $241.3 million came from online slots and other authorised games, while online poker contributed just $2.6 million.