FanDuel Sits Atop Sports Betting Standings In New Jersey As New-Look Revenue Report Comes Out

Written By Grant Lucas on April 17, 2024
Seton Hall head coach Shaheen Holloway for a story on the March 2024 revenue report for sports betting in New Jersey

What sportsbook do New Jersey bettors prefer?

While some data remains unclear to the public, the latest revenue breakdown from the Division of Gaming Enforcement paints at least a clearer picture than we’ve ever seen in the Garden State.

For the first time in the nearly six-year history of sports betting in New Jersey, regulators separated each individual sportsbook and detailed monthly revenue for every skin operating within the state in March.

All told, sportsbooks in New Jersey collected some $1.33 billion in accepted bets for the highest March total seen in NJ since operators went live in summer 2018. That led to about $89.69 million in revenue for the second-highest March total ever.

But which NJ sportsbooks led the way? Finally, we have a more definitive answer.

FanDuel claims the first top spot in new-look revenue report

For the five-plus years New Jersey has featured legal sports betting, state regulators have released monthly revenue data to provide insight into how the industry performs.

But for five years, the DGE sorted that information by the land-based partners of those sportsbooks. No longer. Starting with March, and back-dating to January and February, regulators will also provide data relating to individual online sportsbooks or “skins.”

So, for the first time, we can see which operators enjoy the most success each month.

It should come as no surprise who sits atop the rankings, however, as FanDuel Sportsbook reported $29.5 million in NJ sports betting revenue. That equates to just over 34% of the total generated by online sportsbooks in New Jersey.

The surprise, perhaps, comes in the No. 2 spot.

Fanatics jumps to second ahead of DraftKings

Recall last fall when Fanatics closed on its acquisition of PointsBet, soon rebranding as “PointsBet, a Fanatics Experience.”

Now cut to March, six months later, with the operator reporting a $20.1 million in revenue, an increase of nearly $15 million from February. Obviously some of that is skewed with open bets getting settled in March as opposed to February, so we’ll see if Fanatics can maintain that spot moving forward with the brand set to switch over to Fanatics Sportsbook later this month.

The only other operator to exceed $6 million in March revenue was DraftKings Sportsbook NJ, which clocked in at $17.6 million.

SportsbookRevenue
FanDuel$29,533,888
PointsBet$20,137,489
DraftKings$17,582,183
BetMGM$5,894,475
ESPN Bet$4,294,677
Caesars$3,486,456
Bet365$3,052,522
BetRivers$939,959
Tipico$292,312
BetParx$232,242
Borgata$219,444
SuperBook$131,153
Prophet Exchange$81,033
Unibet$79,927
Hard Rock Bet$7,351
PlayUp($80)
Golden Nugget($830)
Prime($1,958)
Betway($115,057)
Sporttrade($187,893)
Total$85,659,373

March Madness lifts March sports betting in NJ

Through three months in 2024, FanDuel has reported the highest revenue among NJ sportsbooks at $136.9 million, followed by DraftKings at $82 million and the Fanatics platform at $55.6 million.

Certainly the NCAA men’s basketball tournament infused the NJ sports betting industry with a boon last month.

According to DGE data, basketball accounted for some $627.4 million in completed events handle in March. For perspective, over the first two months in 2024, basketball generated just over $997 million combined.

Now, though, the slow period of the sports schedule will lead to the traditional dip in New Jersey sports betting action as the world gears up for football season in a few months.

Photo by Michael Conroy / AP Photo
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Grant Lucas

Grant Lucas is a longtime sportswriter who has covered high school, collegiate, and professional levels. A graduate of Linfield College in McMinnville, Grant now focuses his attention on the growing NJ online gambling and sports betting scene.

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