August was another healthy month for New Jersey sports betting operators, which enjoyed a 30.6% year-over-year revenue increase.
Key Takeaways
- Garden State sportsbooks won back 10.1% of an $814.3-million handle.
- College football’s early start led to significant increases in profit and betting.
- Fanatics Sportsbook suffered a substantial loss in August.
The New Jersey Division of Gaming Enforcement recently reported that online and retail sportsbooks made $81.9 million from an $814.3-million handle, which also rose 16.5% compared to August 2024.
Thanks to an operator-friendly August start for college football betting and a full month of NFL preseason action, the amount wagered spiked nearly 23% from July’s $664-million handle. The hold was down from 11.3% to 10.1%, but New Jersey sports betting operators still had a double-digit win rate for the fourth consecutive month. That last happened in 2023.
New Jersey’s online sportsbooks accounted for $79.3 million in revenue and paid out over $49 million in taxes to the Garden State, which raised its rate on mobile operators to 19.75% in July.
Big loss
August was a rough month for Fanatics Sportsbook. The online operator has produced the fourth-highest gross revenue in New Jersey, but it was crushed last month, losing over $4 million. The sportsbook made $3.4 million last August.
Fanatics also got hit hard in neighboring New York in August when a single bettor wagered hundreds of thousands of dollars. That led to just $16 million in revenue on a $565.8-million handle.
FanDuel profits surge
| Online Operator | August Revenue | YTD Revenue |
|---|---|---|
| FanDuel | $31.6 million | $280.8 million |
| DraftKings | $27.9 million | $199.8 million |
| BetMGM | $7.7 million | $49.8 million |
| bet365 | $5.2 million | $37.6 million |
| Caesars | $3.7 million | $20 million |
| ESPN BET | $2.7 million | $21.4 million |
FanDuel led all operators in gross revenue with $31.6 million and enjoyed a 30.7% year-over-year profit increase. The online sportsbook has produced over $280 million in year-to-date revenue, which is down 5.3% from 2024’s first eight months.
DraftKings was second with nearly $28 million of monthly profit, which was up 80% from the previous August, and is close to becoming the second online operator to reach $200 million in 2025. BetMGM had a solid month with $7.7 million in profits, a 73.2% year-over-year increase, to finish third in New Jersey.
bet365 wasn’t far behind with $5.2 million in August, up 47% from the same month in 2024, while Caesars went over $3 million in revenue to reach $20 million for the year. ESPN BET came in sixth with $2.7 million in revenue.
Hard Rock Bet was the only other online sportsbook to surpass $1 million in monthly revenue, although BetRivers was less than $200,000 short of that mark. Prime Sportsbook turned a healthy $514,000 profit in August, a 126% increase from the previous year’s month.
Another banner month
Online casinos generated $248.4 million in revenue during August, beating out July’s $247.3 million for the highest monthly profits recorded in the Garden State. FanDuel led all operators with a record $57.1 million in revenue. August’s haul also represented a 25.2% year-over-year increase and produced over $49 million in tax revenue for New Jersey.
iGaming has produced $1.88 billion in revenue for operators and their partners. In-person casinos brought in nearly $312 million in August, upping the month’s total gaming revenue to $642.2 million, a 15% year-over-year increase. Year-to-date revenue is up over 9% compared to the first eight months of 2024.
