March Madness Stakes 3 times Greater than Super Bowl bets in NJ – Tech Know Bits


Soccer’s championship game might have been superb, but gamblers at New Jersey dug deeper into their wallets for college basketball national championship tournament.

Over $106 million has been stake in New Jersey about the NCAA Tournament — three times the amount bet on the Super Bowl.

In a sports betting conference in 20, the New Jersey Division of Gaming Enforcement released statistics from the championship Thursday.

The bureau had revealed in February that $34.9 million was dwelling in New Jersey about the Super Bowl, Where the New England Patriots defeated the Los Angeles Rams.

March Madness culminated in the University of Virginia winning the NCAA championship in early April, beating Texas Tech.

Founded on the school hoops tournament brought in $10.8 million in revenue for New Jersey’s sportsbook operators, which include most Atlantic City casinos and two racetracks, both the Meadowlands and Monmouth Park. Many sportsbooks said the faculty tournament donated to the ideal month they have had in New Jersey, last June, where sports started.

Last month, march Madness bets accounted for almost one-third of the $372 million wagered on all athletic events at New Jersey.

The hold percentageprofit, to get the sportsbooks was 10.2%.

Of the $106 million wagered on the championship, more than $80 million was bet online, the latest indication that this fast growing industry’s future is based players placing wagers via mobiles and smartphones. Many states considering legalizing sports are more prone to approve mobile.

In the 10 weeks that New Jersey has allowed legal sports gambling, gamblers have wagered more than $2.3 billion.

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