New Jersey sports betting just wrapped its best year ever, with operators taking more bets and generating more revenue than at anytime in the market’s five-year lifespan.
And, of course, the state of New Jersey collected more taxes — thanks in no small part to a higher tax rate on the much more widely used option of online sports betting in NJ — in 2023 than in any previous year.
According to recent data published by the Division of Gaming Enforcement, legal sports gambling in the Garden State attracted nearly $12 billion in wagers in 2023, including finishing the year with four straight months of more than $1 billion in bets.
Sportsbooks head into 2024 with momentum
December’s monthly handle — the total amount wagered — of $1.28 billion was the third consecutive time that sports betting apps in NJ took in $1 billion or more to close out a year. Between September and December, sports gamblers in New Jersey wagered more than $5.5 billion with legal bookmakers.
New Jersey sportsbooks raked in over $1 billion in revenue last year while the state collected roughly $128.9 million in taxes from legal sports gambling in 2023.
Last month alone, sportsbooks in NJ reported monthly revenue of $109.4 million in December, the third-highest total in state history. Land-based sportsbooks inside Atlantic City casinos or partnered with Jersey Shore gambling parlors reported $52.4 million in revenue, while the state’s licensed racetracks and their partners combined for another $57 million.
For the year, NJ sportsbooks associated with Atlantic City generated $471.7 million in revenue. The racetracks and their online sportsbooks posted $534.9 million in revenue last year.
Retail sports betting, taxed at 8.5% of revenue, generated $3.3 million for the state in 2023. Online and mobile sports gambling, which is taxed at 13% on revenue, accounted for $125.6 million last year.
Breaking down individual licenseholders in New Jersey
Meadowlands Racetrack, featuring partners such as FanDuel Sportsbook NJ and PointsBet Sportsbook NJ, closed out the year as the market’s top revenue-earning for the third straight month. It’s $51.1 million in NJ sports betting revenue stood as the third-best month of 2023 (and third consecutive month topping $50 million).
For perspective, that total is higher than the next four licenseholders combined.
Resorts was the only other to exceed $8 million, reporting $34.8 million in revenue thanks in large part to online partner DraftKings Sportsbook NJ.
After Borgata, driven by BetMGM Sportsbook NJ en route to $7.1 million, Hard Rock Atlantic City enjoyed a strong finish to 2023 – the property’s fifth full year in existence. The land-based partner for Unibet, Hard Rock Bet and bet365 Sportsbook NJ, Hard Rock reported $4.1 million for its second-best month ever, behind only its $5.1 million in September.
Here’s a breakdown of NJ sports betting in December:
| Licensee | Online Brand(s) | Total Revenue | Retail Revenue | Online Revenue | Total Tax Obligation |
|---|---|---|---|---|---|
| Meadowlands | FanDuel | PointsBet | SuperBook | $51,118,381 | $1,818,483 | $49,299,898 | $6,563,580 |
| Resorts Atlantic City | DraftKings | Fox Bet | Resorts | $34,770,218 | ($70,886) | $34,841,104 | $4,529,363 |
| Borgata | BetMGM | Borgata | $7,054,981 | $507,191 | $6,547,790 | $890,369 |
| Hard Rock Atlantic City | Hard Rock | bet365 | Unibet | $4,127,202 | $151,622 | $3,975,580 | $529,713 |
| Tropicana Atlantic City | Caesars | Mojo | $4,116,770 | $334,878 | $3,781,892 | $517,815 |
| Freehold | ESPN Bet | PlayUp | betParx | $3,316,355 | $363,714 | $2,952,641 | $414,766 |
| Monmouth Park | Caesars | BetRivers | $2,557,826 | $1,115,930 | $1,441,896 | $285,026 |
| Harrah's Atlantic City | Prophet | $855,215 | $94,426 | 760,789 | $98,903 |
| Caesars Atlantic City | $597,465 | $597,465 | --- | $50,812 | |
| Ocean | Tipico | $464,079 | $114,424 | $349,655 | $45,490 |
| Bally's Atlantic City | Sporttrade | $366,416 | $134,428 | $231,988 | $11,426 |
| Golden Nugget Atlantic City | Golden Nugget | Betway | $81,576 | $25,923 | $55,653 | $490 |
| Total | $109,426,484 | $5,187,598 | $104,238,886 | $13,937,753 |
