New Jersey Sports Betting Generates $994.4M in April Handle

TRENTON, N.J. — July 1, 2025
New Jersey’s sports betting industry regained ground in April 2025, collecting $90.5 million in gross gaming revenue (GGR) off nearly $1 billion in wagers. But while April marked a much-needed rebound after two sluggish months, year-over-year comparisons tell a more sobering story. Revenue and tax collections continue to fall behind 2024 levels, and neighboring New York’s soaring numbers are setting a new pace for the Northeast.

A 9.10% hold rate, up from March’s 6.44%, helped New Jersey operators generate more revenue from fewer bets. That improvement boosted tax revenue to nearly $13 million, funding key state programs like the Casino Revenue Fund, which supports senior services, housing assistance, and transportation for the elderly and disabled.

Despite the monthly recovery, April 2025 fell short of the same month last year:

This marks the third consecutive month in 2025 where New Jersey has underperformed compared to 2024, signaling a cooling market or better-informed bettors taking smarter bets.

Comparing New Jersey to New York

Just across the Hudson, New York’s mobile-only market continues to redefine scale. While New Jersey has more operators and retail options, New York's sheer betting volume and 51% tax rate on mobile GGR make it a national powerhouse—and a direct competitor.

New York brought in 7.6x more tax revenue than New Jersey in April alone. That matters, especially as both states use gaming proceeds to fund public programs: New Jersey invests in senior services and infrastructure, while New York pours funds into K-12 education. However, NY only has nine online sportsbooks compared to NJ's thirteen.

Who’s Operating in New Jersey?

New Jersey remains one of the most competitive betting markets in the U.S., with 13 operators:

1. Bally Bet
2. Bet365
3. betMGM
4. betPARX
5. BetRivers
6. Borgata
7. Caesars Sportsbook
8. DraftKings
9. ESPN BET
10. Fanatics Sportsbook
11. FanDuel
12. Golden Nugget
13. Hard Rock

This diversity gives bettors options but also spreads promotional dollars thin, making it harder for any single platform to dominate. Meanwhile, New York’s smaller operator pool may allow deeper incentives and more aggressive advertising.

Outlook for Summer 2025

• Seasonal slowdown likely: May to July typically brings reduced betting activity due to fewer major sports events.
• NFL on the horizon: The September kickoff could revive momentum and determine how the year finishes.
• No tax changes yet: New Jersey has not proposed increasing its 13% effective tax rate, though other states’ moves may add pressure.
• NY’s influence is growing: As more New Yorkers stay home to bet and others shift loyalty, NJ must evolve to maintain its identity.

Bottom Line

New Jersey’s April sports betting figures show a market that’s still healthy but facing undeniable headwinds. While revenue recovered from March, it failed to match 2024 levels and lags behind New York’s meteoric rise. Without new incentives or policy innovation, New Jersey risks becoming a trailing player in a region it once led.

But for now, $994.4 million in handle and $90.5 million in revenue is no small feat, and the state’s seniors, housing programs, and transportation systems are already seeing the benefits.