New Jersey Joins The $1 Billion Sports Betting Club

In May, New Jersey’s sports betting market reported a handle of $1.01 billion, showing a 20.5% increase compared to the same month last year.

The cumulative revenue from sports betting in New Jersey has approached $60 million, showcasing a strong year-to-date performance. The state’s sportsbooks generated $102.5 million in revenue for the month, representing a 30.2% increase year-over-year. This marks the second time in 2025 that operators have surpassed the $100 million profit threshold.

The NBA and NHL playoffs have played a pivotal role in driving betting activity. The heightened interest in these sports has led to increased engagement from bettors, contributing significantly to the overall handle.

The online sports betting segment continues to dominate the market, accounting for a substantial portion of the total handle. In May, online sportsbooks generated approximately $98 million in revenue, reflecting a 26.3% increase from the previous year.

Operator Performance Breakdown

FanDuel led the pack with a remarkable monthly revenue of $44.3 million, marking a 33.9% increase from the previous month. DraftKings followed with $28.3 million, showcasing a solid performance as well. Other operators like Fanatics and bet365 also contributed to the overall revenue, although at lower levels.

While many operators experienced growth, some faced challenges. BetMGM, for instance, saw a significant drop in revenue, plummeting from $7.1 million in April to just $1.4 million in May.

The rise in sports betting activity has also translated into tax revenue for New Jersey. The state collected approximately $13.2 million in taxes from sports betting in May alone. This brings the total tax revenue from sports betting for the year to nearly $60 million.