Gross revenues from sports betting in New Jersey for March 2025 were $71.3 million, according to a report released last week by the New Jersey Division of Gaming Enforcement. While online casino revenues soared in March, sports betting has been trending in the opposite direction. New Jersey sportsbooks’ performance for the month is 20.5% below the number from March 2024.
Sports wagering has been limping along in 2025. So far, in the first three months, sports wagering gross revenue is $267.1 million, which is an 18.6% drop from 2024. Last year in January, February, March, New Jersey sportsbooks reported $328 million, or roughly $60 million more than this year in the same three months.
The industry can no longer blame low hold, either. Total handle (or betting volume) was $1.11 billion in New Jersey in March 2025. That’s a drop of 16.5% compared to March 2024. The silver lining is that, despite the drop, total handle in New Jersey has exceeded $1 billion for six of the last seven months.
The state received just over $9 million in tax revenue from sports betting operators due to March 2025 activity.
The state revealed this week that New Jersey set another revenue record from online casino gaming in March at $243.9 in revenue from iGaming operators. But sports betting in the Garden State is flattening out. March is typically a strong month for basketball betting because of the men’s college basketball tournament. But, revenue does slip compared to February and January, which finish off with the NFL and college football playoffs, as well as the Super Bowl.
Among sports betting operators, FanDuel, DraftKings, and BetMGM filled the top three spots based on gross revenue in that order, in March. Those three operators have bene in the top positions every month for the last 14 months in New Jersey.
Both online and retail sportsbooks dipped significantly in revenue year-over-year: online sports betting accounted for $68m, a dip of 20.6% compared to 2024, and retail came in at $3.3 million last month, a 17.3% dip.
Revenue for March 2025 by Sportsbook, New Jersey
- FanDuel: $23.4m in revenue (20.7% drop from the same period in 2024)
- DraftKings: $19.9 million (13.4% decrease)
- BetMGM: $8 million (35.8% decrease)
- Fanatics: $4.4 million
- Caesars: $3.2 million
- Bet365: $2.8 million
- Bally Bet: $172,200
FanDuel has now topped the $100 million mark in revenue for 2025, the first New Jersey sportsbook to accomplish that.
Both the BetFanatics and Bally Bet sportsbooks are on the market in their first year in New Jersey.
Thus far in 2025 through the first three months of figures, total handle in New Jersey from sports betting is $3.25 billion (compared to $4.13 billion in 2024), which is an alarming 21% below the same period a year ago. Gross revenue is down 18.6% from 2024.
