September iGaming results from the New Jersey Division of Gaming Enforcement are out, and the reported $243.1 million pushes 2025’s grand total past the $2.12-billion mark. Compared to the first nine months of 2024, NJ online casinos are 22.7% ahead of last year’s pace ($1.73 billion).
By comparison, Atlantic City’s nine land-based casinos have earned $2.2 billion year-to-date. This includes the prime summer months when families vacation at the Jersey Shore. Online casinos actually outperformed brick-and-mortar revenue ($230.7 million) during September.
FanDuel Casino, which recently launched its rewards club, led all operators with $56.6 million. This brings FanDuel’s 2025 total to over $472.5 million. DraftKings Casino comes in second with $419.4 million.
FanDuel, DraftKings, and BetMGM earned a combined $135.3 million for September. That’s 55.6% of the month’s iGaming revenue total. Borgata online casino (another BetMGM brand) reported $20.7 million last month. By adding it to the previous total, the percentage jumps to 64.2%.
Top brands dominating the NJ online casino industry are nothing new. The table below shows that once you get beyond the market leaders, there is a significant drop in total revenue. There are currently more than two dozen iGaming apps operating in New Jersey.
| Operator | September Revenue | 2025 Revenue |
|---|---|---|
| FanDuel | $56,605,764 | $472,483,092 |
| DraftKings | $48,445,856 | $419,449,237 |
| BetMGM | $30,306,722 | $275,227,299 |
| Borgata | $20,711,114 | $187,186,483 |
| Caesars Palace | $17,822,341 | $148,810,843 |
| Hard Rock Bet | $14,172,814 | $113,441,638 |
| Golden Nugget | $9,323,322 | $83,497,975 |
| BetRivers | $8,022,717 | $72,167,501 |
| BetFanatics | $5,129,855 | $58,166,984 |
| Bally Bet | $4,398,624 | $44,825,231 |
All of the operators mentioned above, except Bally’s, saw an increase of at least 4.6% from the same period last year. Fanatics experienced the biggest jump (86.8%) while Bally Bet experienced an 18.4% drop.
Unlike sports betting, which is legal in 30-plus U.S. jurisdictions, which will soon include Missouri’s sports betting launch, the list of states offering legal online gambling is much shorter. Besides New Jersey, Pennsylvania, Michigan, West Virginia, Rhode Island, Delaware, and Connecticut are other states where some form of online gambling exists.
New Jersey might be the most mature U.S. iGaming market, having launched in 2013, but it doesn’t hold the monthly revenue record. That honor belongs to Pennsylvania and the $294.2 million it reported during March 2025.
Michigan fared slightly better than the Garden State last month, reporting $259.1 million.
It doesn’t look like the U.S. iGaming landscape is going to be expanding anytime soon. New York has tried and failed multiple times to pass iGaming legislation.
Things are not looking any more promising in Maryland. A recent survey showed that 52% of the people surveyed oppose online gambling.
