Garden State sports betting reached $1 billion for the seventh time in nine months.
Key takeaways
- Behind NBA playoff success, New Jersey sportsbooks produced $100 million in revenue for the ninth month ever.
- FanDuel surpassed $186 million in year-to-date profit after May’s haul.
- iGaming revenue spiked 28% in May and went over $1 billion in 2025.
The New Jersey Division of Gaming Enforcement recently reported a $1.01 billion May handle, a 20.5% year-over-year increase and a return to 10 figures after April dropped to nine figures for the second time in 2025.
The NBA and NHL Playoffs helped not only spur an uptick in action but also an improved revenue haul. Garden State online and retail sportsbooks produced $102.5 million in income, a 30.2% year-over-year increase. It’s the second time in 2025 and the ninth month ever that operators reached $100 million in profits.
Sportsbooks across several U.S. markets enjoyed operator-friendly NBA results this year.
Double-digit hold
May’s hold reached double digits for the just the third time in the last nine months. The 10.1% win rate was up from the previous year’s 9.4% hold.
The impressive revenue month filled New Jersey’s coffers with $13.2 million. The Garden State’s year-to-date tax income haul from sports betting is now approaching $60 million.
Operators making more
| Online Operator | May Revenue | YTD Revenue |
|---|---|---|
| FanDuel | $44.3 million | $186.5 million |
| DraftKings | $28.3 million | $126.5 million |
| Fanatics Sportsbook | $6.2 million | $33.7 million |
| bet365 | $6 million | $23.2 million |
| ESPN BET | $4.9 million | $14.9 million |
| Caesars | $3.3 million | $13.6 million |
New Jersey online sports betting generated $98 million in revenue during May, a 26.3% year-over-year increase, on a $967.1 million handle.
FanDuel led all operators with monthly profits soaring above $44 million, a 33.9% month-over-month rise and 20.8% better than May 2024. It also puts the online sportsbook over $185 million in revenue year-to-date.
DraftKings was the only other operator to surpass $20 million. Its $28.3 million in May income was up 28.1% from the previous year and about $4 million more than April. Fanatics was third with $6.2 million, slightly ahead of bet365. ESPN BET nearly reached $5 million in online profit and is closing in on $15 million for the year, a 191.6% year-over-year increase.
BetMGM suffered a massive drop-off, going from $7.1 million in April to just $1.4 million in May, to fall from fourth to seventh in revenue. Hard Rock Bet and BetRivers both claimed a little over $1 million in income for the month.
Online casino revenue rises
iGaming revenue grew by 28.5% to $246.8 million in May. New Jersey online casinos produced over $11 million more than in April, and year-to-date income reached $1.16 billion, a 22.5% year-over-year increase.
Total gaming profit, which also includes in-person casinos, increased 20.5% year-over-year to $614.7 million, leading to $66.8 million in tax revenue for the state. Year-to-date income surpassed $2.7 billion, and New Jersey filled its coffers with over $301 million in 2025.
