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March Madness Pushes New Jersey Sportsbooks to Record Month, According to PlayNJ.com

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New Jersey’s online and retail sportsbooks scored a record win and near-record monthly handle in March as the industry crossed the $2 billion mark in bets since legalization. The spike was fueled overwhelmingly by the NCAA Men’s Basketball Tournament, according to PlayNJ.com analysts.

“The first week of March Madness generated more action than the Super Bowl, and even the First Four games attracted enough betting to rival a busy weekend of NFL regular season football,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “That is unquestionably a massive success and shows clearly the importance of college basketball to the Northeast’s legal sports betting markets.”

New Jersey’s online and retail sportsbooks accepted $372.5  million in March bets, just shy of the record $385.3 million in January, according to official reporting. New Jersey’s online and retail sportsbooks have now accepted $2.3 billion in bets since legalization in June 2018.

March revenue was $31.7 million, up 150 percent from $12.7 million in February. The win and a high-water gross revenue mark for the state’s online casinos combined in March to generate more than $70 million in monthly revenue.

$2 billion in bets in nine months shows just how much pent-up demand for legal sports betting existed in New Jersey,” Gouker said. “As quickly as the industry has ramped up, though, the next milestone should come more quickly. $3 billionis certainly within reach by the industry’s first anniversary in June.”

New Jersey’s online sportsbook brands accounted for $298,3 million, or 80.8 percent, of total March bets. That’s even with the 80.8 percent of bets that flowed through online sportsbooks in February.

FanDuel Sportsbook/Pointsbet was the dominant online sportsbook, beating rival DraftKings Sportsbook, with $13.3 million in gross revenue, up from $6.59 million in February. DraftKings fueled Resorts’ $7.3 million in March, up from $3.7 million in February.

FanDuel Sportsbook at The Meadowlands remained tops in the retail market with $4.3 million in March gross revenue, up from $1.5 million in February. Monmouth Park followed FanDuel with $986,251.

“Online sports betting will continue to drive the market, and product innovations will likely bear much more fruit in the near future,” Gouker said. “New Jersey’s sportsbooks already offer the most advanced online product of any legal sports betting jurisdiction, and bettors have continually responded.”

LEGAL ONLINE CASINOS

New Jersey’s online casino and poker industry extended its run of record-breaking months of March, nearly reaching the $40 million gross revenue threshold for the first time. Legal online gambling generated $39.1 million in March gross revenue, up 53 percent from $25.6 million in March 2018 and up 23 percent from $31.8 million in February.

The industry generated $1.3 million per day during the 31 days of March, up from the $1.1 million per day in the 28 days of February. With the new record, the industry has now posted an all-time monthly revenue record in every March since New Jersey launched online casinos in late 2013.

“Online sports betting is clearly driving online casino growth,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “March has become a predictable spark for New Jersey’s online gambling industry and a first-half indicator for what gains the industry will make in the second half of the year. That pattern should continue this year.”

For more, visit PlayNJ.com/news.

About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

 

SOURCE PlayNJ.com


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: March Madness Pushes New Jersey Sportsbooks to Record Month, According to PlayNJ.com

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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7777 gaming obtains supplier license in Brazil

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7777 gaming is thrilled to announce its latest milestone: obtaining a supplier certification for the Brazilian market. This achievement allows the company to bring its exciting portfolio of online casino games to local operators, marking a significant step in its expansion across Latin America.

“We are incredibly proud to enter Brazil, one of the most dynamic and promising gaming markets in the region,” shared Zhana Aleksandrova, Business Development Manager for Spain & Latin America at 7777 gaming. “This certification opens the door to collaborating with local operators and introducing Brazilian players to our innovative and engaging games. We’re excited to become part of this vibrant gaming landscape.”

The certification highlights 7777 gaming’s dedication to meeting local regulatory requirements and delivering top-quality gaming content tailored to diverse audiences. Players in Brazil can now enjoy fan-favorite titles like Crazy 100 Bucks, Candy Anyways, and Devil’s Deal Soul for Sale, all known for their captivating designs and immersive gameplay. The first pack of 20 thrilling titles is already certified and ready to be integrated into the local online operators’ platforms.

This expansion into Brazil is part of 7777 gaming’s broader strategy to establish itself as a leading provider in regulated markets worldwide. With its creative game portfolio and commitment to excellence, the company is set to make a strong impression in Brazil and beyond.

Stay tuned for more updates as 7777 gaming continues to bring its cutting-edge gaming experiences to players across the globe.

Meet 7777 gaming team at SBC Summit Rio, 25-27 February 2025, Riocentro, Rio de Janeiro, Brazil.

The post 7777 gaming obtains supplier license in Brazil appeared first on European Gaming Industry News.

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Sportradar’s Alpha Odds Receives Dual Honors at European iGaming Awards 2025

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Sportradar is pleased to announce that it was recognized with two prestigious honors at the European iGaming Awards during ICE Barcelona.  The company’s innovative Alpha Odds solution was honored in two competitive categories, continuing to solidify Sportradar as a leader in the online gaming industry. The European iGaming awards, a benchmark for excellence in the sector, celebrate groundbreaking achievements and advancements that redefine the gaming experience.

Alpha Odds received recognition in the following categories:

  • 2024 Innovation of the Year: Celebrating the pinnacle of innovation and creative thinking in iGaming.
  • Best Sports Betting Innovation: Honoring extraordinary advancements in the sports betting arena.

A service offered through Sportradar’s Managed Trading Services (MTS), Alpha Odds leverages AI-driven odds personalization technology to deliver bespoke betting prices for sportsbook operators. Alpha Odds recalculates financial exposure in real time, enabling operators to manage liability with unparalleled precision, reduce risk and enhance profitability. Since its launch, Alpha Odds has generated an average 13% improvement in margin performance for sportsbooks using the solution.

Through Alpha Odds, Sportradar’s MTS continues to optimize trading strategies and elevate sportsbook profitability, while reinforcing Sportradar’s position as a trusted technology partner for operators worldwide.

The post Sportradar’s Alpha Odds Receives Dual Honors at European iGaming Awards 2025 appeared first on European Gaming Industry News.

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Xanada Investments Announces Strategic Investment in Bettorify

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Xanada Investments has announced a strategic partnership with Bettorify, an emerging platform provider delivering localized and premium iGaming solutions.

Bettorify’s core differentiator lies in its dedication to localization. The company specializes in white-label and turnkey platforms that resonate with local players, particularly across Asia’s diverse and rapidly growing iGaming market.

By integrating local payment methods and offering a tailored game portfolio, Bettorify enables operators to meet the unique needs of players while navigating regional complexities with ease.

Xanada Investments’ role goes beyond capital infusion. The fund brings extensive expertise, a powerful network, and a shared vision for success. With this partnership, Bettorify is set to improve its offerings further, expand operations across Asia, and bring tailored, competitive solutions to operators navigating the region’s complex landscape.

Vladimir Malakchi, CEO & Managing Partner of Xanada Investments, shared his thoughts:
“Bettorify offers a compelling answer to the growing demand for localized solutions in Asia’s iGaming market, which remains one of the most dynamic and under-served regions globally. Their approach to building deeply customized platforms for local audiences is both innovative and necessary.

Hanna Rai, CEO of Bettorify, expressed enthusiasm about the partnership: “Our collaboration with Xanada Investments marks a pivotal moment for Bettorify. Their strategic guidance and support will help us accelerate our growth, expand our footprint across Asia, and continue delivering unmatched platforms that operators and players love. Together, we aim to set a new standard in the iGaming industry.”

The post Xanada Investments Announces Strategic Investment in Bettorify appeared first on European Gaming Industry News.

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