The Garden State ended 2025 with its fourth consecutive billion-dollar monthly sports betting handle, but year-over-year wagering was down over 5% in December.
Key Takeaways
- New Jersey’s yearly handle was down from 2024’s record total.
- FanDuel went over $470 million in gross revenue in 2025.
- iGaming contributed over half of the Garden State’s total tax haul.
The New Jersey Division of Gaming Enforcement reported that online and retail sportsbooks generated a $1.06-billion handle in December. Gross revenue of $116.3 million spiked 85% compared to the same month in 2024 and produced the third consecutive nine-figure profit period.
The 11% hold was more than double December 2024’s win rate and gave New Jersey operators their seventh double-digit hold of 2025. The Garden State filled its coffers with $24.2 million from December’s sports wagering.
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Year in review
The year-over-year decrease in December’s handle was also felt on a larger scale. New Jersey sports bettors wagered just over $12 billion in 2025, a decrease from the record $12.8-billion handle in 2024.
However, New Jersey sports betting revenue was up 7.5% as casinos, racetracks, and online operators hauled in a combined $1.18 billion in yearly profit. Mobile sportsbooks experienced an even higher 8.2% year-over-year revenue spike, while retail operators saw profits dip by 12% compared to 2024.
The 9.7% hold recorded in 2025 was a slight increase from 2024’s 9.6%. New Jersey, which raised the sports betting tax to 19.75% for online operators in the summer of 2025, generated over $209 million in state revenue, a 48% year-over-year increase.
FanDuel flourishes
| Online Operator | December Revenue | YTD Revenue |
|---|---|---|
| FanDuel | $50.2 million | $470.1 million |
| DraftKings | $34 million | $325.3 million |
| BetMGM | $8.3 million | $85.8 million |
| bet365 | $6.1 million | $64.6 million |
| Fanatics Sportsbook | $3.9 million | $82.9 million |
| Caesars | $3.1 million | $34.1 million |
FanDuel continued its revenue dominance in the Garden State, generating over $50 million in profits during December for a 69% year-over-year increase. The online operator also topped $470 million for the year. DraftKings added $34 million in December revenue to surpass $325 million for 2025, a $36-million spike from 2024’s revenue total.
BetMGM surged to third place with $8.3 million in gross revenue, which was up 36% compared to the previous December, while bet365 hauled in 108% more year-over-year monthly profits. Fanatics took a couple of steps back to just $3.9 million in December revenue, but the online operator still finished fourth for the year with $82.9 million.
Caesars was the only other online sportsbook to surpass $3 million in profits, but Hard Rock Bet and theScore Bet both went over $2.5 million each after both took losses last December. BetRivers went over $1 million in monthly profits, while Prime Sportsbook was the only New Jersey online sports betting operator to finish in the red during December.
Tax total tops $1 billion
All of New Jersey’s gaming led to a total tax haul of just over $1 billion, with online casinos contributing over half of that amount.
New Jersey’s iGaming operators generated $273.2 million in December revenue, a 19.8% year-over-year increase, and hauled in $2.91 billion in total yearly profits, up 22% from 2024.
Total gaming revenue, which also includes table games and slots at in-person casinos, reached $605.6 million in December, pushing the 2025 total to $6.98 billion, a 10.8% year-over-year increase. Casinos experienced a 2.7% spike.
