New Jersey sports betting operators cashed in on a heavy-volume month.
Key Takeaways
- New Jersey sports betting produced the fifth billion-dollar handle in 2025.
- This October dwarfed last year’s, when customer-friendly results held back operators.
- iGaming set a new revenue record in the Garden State.
The New Jersey Division of Gaming Enforcement reported on Tuesday that online and retail sportsbooks won $116.1 million on a $1.24 billion handle in October. Revenue spiked 49.8% year-over-year and was the second-highest monthly profit in 2025 behind January’s $122.2 million.
October was highlighted by the MLB playoffs and World Series, a full month of NFL and college football, and starts to the NBA and NHL regular seasons. The amount wagered was up 9.7% compared to the same month in 2024, and it was the fifth billion-dollar handle year-to-date.
Last October, customer-friendly results, especially in the NFL, produced a low 6.8% hold. This year, New Jersey operators posted a 9.7% win rate, the seventh over 9% this year.
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Retail bounces back
New Jersey online sports betting operators accounted for $110.7 million in revenue from a $1.19 billion handle.
Retail operators generated over $43.7 million in wagers during October. Casinos won back $2.4 million in revenue, while racetracks hauled in $2.9 million in profits. The combined $5.3 million in revenue was up 242% compared to October 2024 and a much better month than September, when one brick-and-mortar shop lost over $3 million.
Combined, sports betting operators paid out $22.3 million in taxes to the Garden State, sending the yearly total to over $70 million.
Operator revenue up
| Online Operator | October Revenue | YTD Revenue |
|---|---|---|
| FanDuel | $39.9 million | $358.4 million |
| DraftKings | $30.5 million | $252.9 million |
| Fanatics Sportsbook | $11.4 million | $67.8 million |
| BetMGM | $10.1 million | $67 million |
| bet365 | $6.5 million | $49.5 million |
| Caesars | $3.6 million | $26.6 million |
FanDuel hauled in nearly $40 million in October, a 14.5% year-over-year revenue increase. DraftKings enjoyed a 37.3% spike and surpassed $250 million in year-to-date revenue.
Fanatics Sportsbook moved into third place with $11.4 million in October profits, a 65% increase from September. BetMGM wasn’t far behind with $10.1 million, while bet365 made $6.5 million and closed in on $50 million for the year.
Caesars was the only other online operator to surpass $3 million in October. ESPN BET hauled in $2.7 million, with Hard Rock Bet close behind at $2.6 million. BetRivers was the last of New Jersey’s 15 mobile sportsbooks to reach $1 million in revenue.
iGaming goes off
New Jersey regulators also reported that operators generated $260.3 million in iGaming revenue in October, beating out August’s $248.4 million. The latest monthly profits increased 7% compared to September and 21.8% year-over-year. The yearly total for online casinos is close to $2.4 billion.
The Garden State collected $51.4 million from the 19.75% tax on iGaming operators. New Jersey’s coffers were filled with over $80 million in tax revenue from a total gaming win of $611.1 million, a 22.3% year-over-year increase for casinos, racetracks, and their sportsbook and iGaming partners.
