New Jersey sports betting operators experienced a November to remember.
Key Takeaways
- November was New Jersey’s largest-grossing month of 2025.
- The handle has stayed above $1 billion during football season.
- FanDuel had another huge month in New Jersey.
The New Jersey Division of Gaming Enforcement reported on Tuesday that online and retail sportsbooks won $146.3 million in gross revenue in November, the second-most profitable month ever. Only January 2024’s $170.7 million is higher.
The largest grossing month of 2025 was up 23% compared to November 2024, putting Garden State operators’ year-to-date revenue total over $1 billion.
Sports betting in New Jersey generated a November handle of $1.28 billion, the most of any month in 2025, and a 4.6% year-over-year increase. The monthly amount wagered has stayed over $1 billion throughout the entire NFL season.
Sportsbooks thrived on the pro football league in November, especially during Thanksgiving week, when underdogs dominated a long Week 13. November also included the first full month of NBA and NHL, as well as the start of college basketball and the end of college football’s regular season.
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Heavy hold
The 11.4% hold was up over 1.5 points from the previous year and was the second highest year-to-date. The hold surpassed 11% for the third time in 2025.
Online sports betting accounted for nearly $142.5 million of the Garden State’s gross revenue on a $1.22-billion handle. Retail sportsbooks at casinos and racetracks contributed over $3.8 million in profits on a $60.5-million handle.
The two types of sports betting led to $28.6 million in operator tax payout to the Garden State, which has hauled in over $458 million year-to-date.
FanDuel shines in November
| Online Operator | November Revenue | YTD Revenue |
|---|---|---|
| FanDuel | $61.4 million | $419.9 million |
| DraftKings | $38.3 million | $291.3 million |
| Fanatics Sportsbook | $11.1 million | $78.9 million |
| BetMGM | $10.4 million | $77.5 million |
| bet365 | $8.9 million | $58.5 million |
| Caesars | $4.3 million | $30.9 million |
FanDuel led all online sportsbooks with $61.4 million in gross revenue, a more than $20-million month-over-month increase, and a 24% year-over-year spike that put the leader in sports betting profits up to nearly $420 million for the year. DraftKings generated $38.3 million in revenue as it inches its way to $300 million for the year.
Fanatics Sportsbook and BetMGM were the only two other operators to cross $10 million in profits for the month, and the two online sportsbooks are battling it out in December to see which one finishes third for the year in gross revenue.
bet365 made $2.5 million more in November than in October to surpass $50 million for the year, while Caesars crossed $30 million in yearly profits. In its final month as ESPN BET, the PENN Entertainment platform, which rebranded as theScore Bet, hauled in $2.9 million in November, a slight increase from the previous month.
Hard Rock Bet was the only other online operator in seven figures in November, while Prime Sportsbook took a $555,278 loss for the month.
iGaming dips month-over-month
New Jersey’s iGaming operators experienced a 2.8% month-over-month revenue loss as online casinos generated $253 million in November profits. However, the latest revenue was up 18.2%, and the year-to-date total of $2.64 billion is a 22.2% increase from the first 11 months of 2024.
Total gaming revenue, including table games and slots at in-person casinos, reached $636.2 million in November, a 14.2% year-over-year increase. The Garden State filled its coffers with $93.4 million from total gaming taxes, which rose to over $794 million in 2025.
