With extensive betting during the NCAA’s (National Collegiate Athletic Association) college level basketball tournament, New Jersey sports books have posted a dramatic increase in their revenue for March 2019.
The revenues for nine Atlantic City casinos went up to 294 million which is a 34% increase from the revenue generated for the same period last year.
According to the estimated figures posted for the month of March, a total of $372 million was wagered on sports events in one single month.
From nine Atlantic City casinos, 6 posted an increase in revenue while only three didn’t manage to perform that well.
Also what’s interesting is that most casinos said that the sports wagers placed on the basketball tournament games during the March Madness were higher than what was wagered during the NFL’s Super Bowl.
With the Supreme Court legalizing sports betting it was estimated that overall 8.5 billion dollars could be wagered during the NCAA’s March Madness.
However, NCCA has always opposed betting on college-level sports tournaments, and earlier this month it also said that it is looking forward to banning college level athletes who participate in sports betting.