A double-digit hold led to sports wagering operators dominating New Jersey bettors in June.
Key takeaways
- Sports betting operators’ 11.6% hold was the highest since July 2024.
- New Jersey sportsbooks brace for a new tax rate.
- Total gaming revenue led to over $364 million in Garden State taxes.
The New Jersey Division of Gaming Enforcement recently reported online and retail sportsbooks generated $91.9 million in gross revenue, a 51.6% year-over-year increase, from a $790.4 million handle. It’s the fourth monthly profit of over $90 million in 2025's first six months.
The 11.6% hold was up 8% from last June and is the highest year-to-date. It’s also the best win rate operators generated since July 2024.
June included the NBA Finals, wrapping up a strong run by sportsbooks during basketball’s postseason, as well as the NHL’s Stanley Cup and a heavy month of MLB action. While handle was down 22% from a high-volume May, the amount wagered was up 5.6% compared to the previous June.
New Jersey online sports betting accounted for $91.2 million of total gross income, up 55% from June 2024. Retail sportsbooks inside land-based casinos reported a loss of over $390,000. Operators at Garden State racetracks made more than $1 million in gross revenue.
Tax changes
Behind a 13% tax rate, sports betting profits gave the Garden State $11.9 million. The year-to-date tax revenue total surpassed $90 million for June's New Jersey haul, which is about to get an even bigger portion of the pot.
Garden State lawmakers passed a bill last month that raises the tax on sports betting and iGaming operators to 19.75%.
FanDuel’s 2025 profits down
| Online Operator | June Revenue | YTD Revenue |
|---|---|---|
| FanDuel | $35.8 million | $222.3 million |
| DraftKings | $24.3 million | $150.8 million |
| Fanatics Sportsbook | $11.9 million | $45.6 million |
| BetMGM | $5.9 million | $35.7 million |
| bet365 | $4.8 million | $28 million |
| Caesars | $2.4 million | $14.2 million |
FanDuel led all operators in June with $35.8 million in gross revenue, a 22.9% year-over-year increase, but down nearly $6 million from the previous month. The online sportsbook’s year-to-date $222.3 million total dropped 7.6% from 2024's first six months.
DraftKings produced over $20 million in monthly profit for the third consecutive time, while surpassing $150 million for the year. Fanatics Sportsbook was one of few operators with a month-over-month income increase, finishing third with $11.9 million in June.
BetMGM got back on track behind a 321% revenue increase compared to May, nearly reaching $6 million in profit. bet365 was fifth with $4.8 million in profit to reach $28 million year-to-date.
Caesars remained in the top six with a $2.4 million haul. ESPN BET, Hard Rock Bet, and BetRivers all generated seven figure revenue during June.
Raking in the dough
iGaming generated $230.7 million in revenue for casinos and their online partners in June. Profits were up 23.5% compared to June 2024, and New Jersey online casinos produced $1.39 billion in year-to-date income, an annual 22.7% growth.
Total gaming revenue, including land-based slots and table games, reached $581.6 million in June, an 18.4% year-over-year increase. Garden State gaming produced $3.06 billion in operator profit and $364.4 million in tax revenue after bringing in $62.8 million in June.
