New Jersey iGaming revenue hit new highs, as the Garden State remains one of the most high-performing markets in the country. Both online casinos and sports betting showed growth this month, with casinos continuing to be the larger source of revenue for New Jersey.
The New Jersey Division of Gaming Enforcement recently announced May 2025 gaming results, showcasing the new highs for the state.
Sports betting gross revenue increased by 30.2% year-over-year in May, going from $78.8 million in 2024 to $102.5 million this year. However, the year-to-date revenue is still down 10.3% from last year at this time, down from $513 million to $460.2 million.
Online casino revenue showed a 28.5% growth year-over-year this month, increasing from $192.1 million in 2024 to $246.8 million this time around. The year-to-date numbers show growth as well, with $1.16 billion through May 2025, a jump of 22.5% compared to $942.8 million at this time last year.
In terms of sports betting handle, New Jersey got to $1 billion in May, which is a 20.5% year-over-year increase. The NBA and NHL playoffs helped yield these strong results for New Jersey.
FanDuel and DraftKings remain the leaders in market share in New Jersey, but three operators showed major growth this month in online sports betting revenue.
| Operator | May 2024 | May 2025 |
|---|---|---|
| FanDuel | $36.7 million | $44.3 million 📈 |
| DraftKings | $22.1 million | $28.3 million 📈 |
| Fanatics | $2.0 million | $6.2 million 📈 |
| bet365 | $3.5 million | $6.0 million 📈 |
| ESPN BET | $2.6 million | $4.9 million 📈 |
| Caesars | $2.5 million | $2.9 million 📈 |
| BetMGM | $5.0 million | $1.5 million 📉 |
Fanatics, bet365, and ESPN BET are gaining market share in New Jersey. Caesars has been relatively stagnant, with a growth of $0.4 million compared to last year.
On the other hand, BetMGM is falling behind. At this time last year, BetMGM ranked fourth in the Garden State, but fell to sixth in May revenue for online sports betting, dropping from $5.0 million to $1.5 million in May revenue.
If we look at online casinos in total May revenue, BetMGM performed significantly better, especially compared to bet365 and ESPN BET.
| Operator | May 2024 | May 2025 |
|---|---|---|
| FanDuel | $54.4 million | $40.0 million 📉 |
| DraftKings | $48.1 million | $42.2 million 📉 |
| BetMGM | $32.5 million | $22.8 million 📉 |
| Caesars | $18.0 million | $12.4 million 📉 |
| Fanatics | $6.2 million | $1.0 million 📉 |
| ESPN BET | $2.6 million | $2.4 million 📉 |
| bet365 | $2.1 million | $1.4 million 📉 |
Online casinos accounted for 95.6% of total May revenue for BetMGM. With online casinos continuing to drive growth for BetMGM, this remains the focus over sports betting moving forward.
Fanatics just launched its online casino platform in New Jersey this month, so it will take some time to establish a foothold in the state.
With the NBA and NHL playoffs now over, June sports betting revenue is going to decrease compared to what was seen in May. It’s now the slow part of the sports betting calendar, with the MLB regular season as the main attraction.
For context, in June 2024, New Jersey reported $60.1 million in sports betting revenue, which would be a significant decrease from $102.5 million in May.
