What advantage then has the Jew, or what is the profit of circumcision? Much in every way! Chiefly because to them were committed the oracles of God. (Romans 3:1-2)
After showing that the Jew’s possession of the Law of Moses and circumcision did not mean they would get a “free pass” at the judgment, Paul addresses a question that the Jew would have had.
“So…what advantage do we have then? Isn’t circumcision profitable for something?”
In view of how Paul had already argued, he asked, “What advantage then does the Jew have and what value does circumcision possess, if any at all?” We might expect the answer to be “None,” but that is not the case. Instead of naming several Jewish advantages at this time, he only gave one. He held the reader in suspense for the others, waiting until chapters 9 through 11 to give additional ones. - Pollard, Truth for Today Commentary, 103-104
The Jew’s advantage.
The advantage the Jew had was that God had “committed” or “entrusted” (ESV) them with His Word. The Jews being “entrusted” with God’s Word suggests responsibility and privilege.
The “oracles of God” refers to God's revelation - the Scriptures. This word is found in three other places in the New Testament: Acts 7:38, Hebrews 5:12, and 1 Peter 4:11. Each time, the “oracles of God” specifically refer to the Word of God.
So the Jew does have advantages: the oracles of God which contain the Messianic promises made to the Jew. These set the Jew out as especially blessed by God. - McGuiggan, Romans, 111
For the Jew, it was a tremendous advantage having God’s special revelation in the Scriptures (Deuteronomy 4:8; Psalm 147:19-20), instead of having to rely solely on general revelation from nature as the Gentiles did. - Pollard, Truth for Today Commentary, 106
The Jewish advantage was that God had given them His Word - they knew God’s will and His promises. This was undoubtedly a tremendous blessing and a distinct advantage over the rest of humanity. They had a knowledge of the Lord God that most other people did not have.
We live in a time today when (for most people) it has never been easier to get a copy of God’s Word. Hard copies of the Bible can be purchased in a store or online. You can have a Bible shipped directly to your home. The Bible can be read online or downloaded onto a smartphone or tablet.
Having God’s Word easily accessible is certainly a blessing - however, it also means we have a great responsibility.
We have no excuse for not growing in our knowledge of God’s Word. Many people, especially in the United States, have multiple copies of the Bible. If we fail to “grow in the grace and knowledge of our Lord and Savior Jesus Christ” (2 Peter 3:18), we will have no one to blame but ourselves.
Having the Word of God is a tremendous blessing - but merely possessing it will do us little good. Are we hiding God’s Word in our hearts? (Psalm 119:11)
I suggest it is mistaken that Paul left them hanging until chapter 9. The advantage given them is implied with 2 additional and significant points Paul makes in C-3. First, God's Law revealed the knowledge of sin (3.20); second, through the Law and Prophets, God's righteousness is revealed in Jesus (3.21-22; cp. Gal. 3:23-25).