New Jersey sports betting revenue rises to $116m in October
Garden State GGR up nearly 30% from September thanks to 9.4% hold
New Jersey sports betting receipts stabilized in October after a below-average first month of football, with operators reporting $116.1m in gross revenue according to new data from the New Jersey Division of Gaming Enforcement (NJDGE).
The revenue figure marked a 29.3% increase from $89.8m in September when results swung in the favor of bettors, evidenced by a middling 7.9% statewide hold. Annual revenue surged 49.8% from $77.5m during the same period of 2024.
The win rate in October rose to 9.4% as Garden State handle for the month amounted to $1.24bn, a 9.3% year-over-year (YOY) increase.
The solid month gave way to $22.3m in operator tax payments back to the state as year-to-date tax revenue pushed past $140m.
Turning to operators, FanDuel continued to pace the Garden State after amassing $39.9m in gross gaming revenue (GGR), equating to approximately 34% of the market.
DraftKings wasn’t too far behind its primary US competitor at $30.5m in GGR, good for a market share of just over 26%.
Fanatics ($11.4m) and BetMGM ($10.2m) continued their battle for first runner-up after the behemoths, with Fanatics taking the honors after BetMGM had occupied the final podium spot the previous two months.
The competitive tier below that was led by bet365 ($6.5m), followed by Caesars ($3.8m), ESPN Bet ($2.7m) and Hard Rock Digital ($2.6m)
Finally, looking at New Jersey’s booming igaming market, it was another banner month for operators as total revenue came to $260.3m.
The record-setting figure, which easily topped the previous high-water mark of $248.4m established in August, represented a 21.8% YOY increase from $213.6m during the same period of 2024.
FanDuel once again led the way with a record $60.9m in revenue, followed by DraftKings ($48.5m) and BetMGM ($33.2m).