March Madness bets 3 times higher than Super Bowl bets in New Jersey

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.

News 12 Staff

Apr 26, 2019, 12:40 AM

Updated 1,970 days ago

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(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.
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