Nearly 11 years have passed since online casinos in New Jersey went live. Yet iGaming continues to find ways to top itself.
Despite the dog days of summer, online casinos in New Jersey nearly set a state record for revenue last month. Platforms in the Garden State produced $195.4 million in July earnings, the second-best total of all-time, according to the New Jersey Division of Gaming Enforcement.
The record happened in March, when NJ online casino revenue came in at $197.2 million. The state finished less than $2 million shy of the milestone in July. The five best months in terms of iGaming revenue in NJ have come in each of the past five months.
July iGaming revenue up MoM and YoY
NJ’s iGaming market experienced sizable leaps on a month-over-month and year-over-year basis.
Over the past 10 years, July has performed better than June each and every time. This year didn’t buck that trend. July’s $195.4 million revenue was a 4% increase over June’s $186.8 million revenue.
The year-over-year jump is much more significant. Last July, operators produced $155.2 million in revenue, which means a 25.9% jump YoY from 2023 to 2024.
The Garden State is up to 32 operators, which is easily the most of any market. Casino Control Commission Chairman, James Plousis, said in a statement:
“The diversity of gaming options and the strength of New Jersey’s online casinos continue to provide resilience in a highly competitive marketplace — not only for the benefit of the gaming industry, but also for the economy of the city, the region, and the state.”
This brings YTD revenue up to $1.33 billion, which reflects growth of 22% compare to this point last year. That puts the state on pace to record $2.28 billion by the end of December, well ahead of 2023’s state-record $1.9 billion.
Despite New Jersey being the most mature iGaming state, the market is continuing to grow.
DraftKings widens online casino lead in NJ
DraftKings Casino NJ and FanDuel Casino NJ are easily leading the way in the Garden State, as the two combined for nearly 41% of the market share in July.
DraftKings entered July with nearly a $10 million lead on FanDuel. It was able to stretch it even further last month, as the former produced $41.7 million and the latter recorded $37.8 million. DraftKings now leads FanDuel, $286.9 million to $273.7 million.
Plenty of competition in NJ iGaming market
Among all 32 operators in the Garden State, there’s no denying that DraftKings, FanDuel, BetMGM and Borgata are the clear market leaders. Together, those operators made up 63.3% of market share last month. That leaves some room for smaller platforms to carve out a niche in the second and third tiers.
Those next-tier operators behind the market leaders include Hard Rock, Caesars, BetRivers and Golden Nugget. Each of those posted revenue results between $6.5 million and $10.4 million, which is a solid impact in the market.
July revenue for NJ iGaming platforms
| Online casino | Total Revenue | Slots & Tables | Poker |
|---|---|---|---|
| DraftKings | $41,668,119 | $41,668,119 | --- |
| FanDuel | $37,761,067 | $37,761,067 | --- |
| BetMGM | $25,262,988 | $24,919,643 | $343,345 |
| Borgata | $18,774,803 | $18,452,830 | $321,973 |
| Caesars Palace | $12,185,659 | $12,185,659 | --- |
| Hard Rock Bet | $10,353,857 | $10,353,857 | --- |
| Golden Nugget | $8,679,224 | $8,679,224 | --- |
| BetRivers | $6,528,522 | $6,528,522 | --- |
| Bally | $5,707,197 | $5,707,197 | --- |
| ESPN Bet | $2,780,711 | $2,780,711 | --- |
| Tropicana | $2,674,231 | $2,674,231 | --- |
| PlayStar | $2,490,233 | $2,490,233 | --- |
| Fanatics | $2,452,037 | $2,452,037 | --- |
| Resorts | $1,941,427 | $1,941,427 | --- |
| Bet365 | $1,669,923 | $1,669,923 | --- |
| WSOP | $1,646,525 | $558,103 | $1,088,422 |
| Virgin | $1,628,199 | $1,628,199 | --- |
| Ocean | $1,553,782 | $1,553,782 | --- |
| PokerStars | $1,379,929 | $655,768 | $724,161 |
| PartyPoker | $1,369,322 | $1,211,530 | $157,792 |
| Parx | $1,271,499 | $1,271,499 | --- |
| Harrah's | $1,224,618 | $1,224,618 | --- |
| Mohegan Sun | $1,199,012 | $1,199,012 | --- |
| Jackpocket | $970,669 | $970,669 | --- |
| Pala/Stardust | $938,633 | $938,633 | --- |
| Wheel of Fortune | $704,883 | $704,883 | --- |
| Jackpot City | $417,876 | $417,876 | --- |
| Betway | $157,848 | $157,848 | --- |
| Tipico | $3,054 | $3,054 | --- |
| Total | $195,395,847 | $192,760,154 | $2,635,693 |
