BC-NJ--NJ Sports Betting-March Madness, NJ
SECAUCUS, N.J. (AP) — Gaming officials say more than $106 million was bet on the national college basketball tournament in New Jersey last month — three times the amount bet on the Super Bowl.
The New Jersey Division of Gaming Enforcement revealed statistics from the tournament Thursday at a sports betting conference in Secaucus.
Those bets made $10.8 million in revenue for sportsbook operators in New Jersey, which include most Atlantic City casinos and two racetracks, the Meadowlands and Monmouth Park.
March Madness bets accounted for nearly a third of the $372 million wagered on all sporting events in New Jersey in March.
The hold percentage, or profit, for the sportsbooks was 10.2 percent.
Of the $106 million wagered on the tournament, more than $80 million was bet online.