Name: New Jersey Sports Betting Statistics
Creator: RG

New Jersey Sports Betting Market Overview

New Jersey, known as the Garden State, has approximately 9.3 million residents as of 2024. As a pioneer in sports betting, New Jersey played a central role in shaping the modern sports betting markets in the United States.

Sports betting in New Jersey was officially legalized on June 11, 2018, when Governor Phil Murphy signed the legislation. The state wasted no time, launching its first legal sports wagers on June 14, 2018, three days later. New Jersey’s sports betting handle and gambling revenue have consistently ranked among the highest in the country. Twelve Online sportsbook operators like Caesars, BetMGM, DraftKings, FanDuel, Resorts Digital, and Borgata have contributed significantly to total revenue through winning bets, igaming revenue, and retail sportsbooks. Along racetracks like Meadowlands and Atlantic City, these businesses have propelled the state to the forefront of sports betting innovation.

New Jersey law requires all online sportsbook operators to partner with a licensed casino or racetrack properties. These license holders can operate up to three individually branded websites (skins) and are granted a 270-day window to launch an online book without a retail facility.

Taxes and fees are vital to New Jersey’s sports betting sector. Retail sports betting revenue is taxed at 9.75%, while revenue from mobile and online wagering is taxed at a higher rate of 14.25%. These contributions have generated substantial funds for state and local jurisdictions, supporting public services, infrastructure, and economic initiatives.

The New Jersey Division of Gaming Enforcement (DGE) and the New Jersey Racing Commission regulate gaming enforcement and oversee state and local jurisdictions for online sports betting, taxes collected, and retail operations. Taxes and fees collected from sports betting revenue have been reinvested into local jurisdictions, supporting public services and economic growth. New Jersey remains a benchmark for other states expanding into sports and online gambling.

Choose a State

New Jersey

Select state:

Annual Sports Betting Growth in New Jersey

Source:

Embed Chart

Monthly Sports Betting Growth in New Jersey

2023

Source:

Embed Chart

Sports Betting Handle and Revenue Performance

Since launching its sports betting market in 2018, New Jersey has consistently held its position as one of the leading states in the U.S. NJ's total handle grew exponentially from $1.25 billion in 2018 to $11.97 billion in 2023. During the same period, total New Jersey sports betting revenue increased from $94.02 million in 2018 to an impressive $1.01 billion in 2023, with a peak annual hold rate of 8.87%.

New Jersey’s tax revenue contributions also rose significantly, starting at $13.40 million in 2018 and reaching $143.45 million in 2023.

2024 Year-to-Date Performance

In 2024, New Jersey's sports betting market continued its upward momentum. From January to September, the New Jersey Division of Gaming Enforcement reported a total handle of $9.2 billion, generating $835.37 million in gross gaming revenue (GGR) and $119.04 million in tax revenue.

The highest monthly handle occurred in February 2024, with an impressive $1.72 billion, driven by the NFL playoffs and the Super Bowl. February also recorded the highest monthly revenue of $170.76 million and a monthly hold rate of 9.93%. The lowest handle was reported in August 2024, with $652.28 million, a seasonal dip typical during the late summer months.

Historical Growth and Future Outlook

Since its inception, New Jersey’s sports betting market has continued breaking records, driven by its open market and partnerships between casinos, racetracks, and sportsbook operators. With its cumulative handle nearing $60 billion from 2018 to 2024 and total gambling revenue surpassing $4.37 billion in the same period, New Jersey remains a benchmark for other states looking to grow their sports betting markets.

As the state moves forward, its strategic approach to mobile and online sports betting, combined with the strength of Atlantic City’s casinos and racetracks, makes New Jersey a dominant force in the sports betting industry.

Latest Updates in New Jersey Sports Betting Industry

Nov. 26, 2024: New Jersey's sports wagering gross revenue, reported by casinos, racetracks, and their online partners, totaled $77.5 million, marking a 16.0% decrease compared to the $92.3 million recorded in October 2023.
Oct. 2024: In September, New Jersey's sports betting handle increased by 55.93% compared to August, rising from $698.84 million to $1.09 billion. Revenue grew even more dramatically, increasing by 89%, jumping from $62.73 million to $119 million.

Professional Sports Teams in New Jersey

New York Giants (NFL): Although associated with New York, the Giants play their home games at MetLife Stadium in East Rutherford, New Jersey, and are a staple in the National Football League’s NFC East Division.

New York Jets (NFL): Like the Giants, the Jets are based at MetLife Stadium and compete in the NFL's AFC East Division.

New Jersey Devils (NHL): This NHL team proudly represents New Jersey. It competes in the Metropolitan Division and plays home games at the Prudential Center in Newark.

FanDuel Sportsbook: The partnership includes FanDuel’s logo displayed on the ice.
William Hill: Sponsorship deal features branded retail sportsbook space within the Prudential Center.
Caesars Sportsbook: Partnership includes promotional space inside the Prudential Center.

New York Red Bulls (MLS): Based in Harrison, New Jersey, the Red Bulls are a Major League Soccer team.

Future Outlook for New Jersey Online Sports Betting

New Jersey’s online sports betting market continues to set the benchmark for performance, with sports betting revenue and growth trends showcasing its dominance. As the Garden State builds on its reputation as a leader in the industry, several factors will shape its future trajectory:

Sustained Revenue Growth: New Jersey has consistently reported impressive year-to-date revenue figures, with betting revenue from the first six months of 2024 surpassing expectations. Operators reported substantial activity during high-profile events, including the NFL playoffs and Super Bowl. The state is poised for continued revenue growth, driven by major sporting events and evolving consumer preferences.
Team Partnerships and Atlantic City: Partnerships with professional teams, such as the New Jersey Devils' collaborations with FanDuel and Caesars, are expected to grow, further boosting sports betting revenue. Additionally, Atlantic City continues to play a vital role, with its casinos serving as anchors for both retail and online betting activities, generating significant total revenue.
Tax Revenue Contributions: New Jersey's tax structure remains crucial to its betting market. With tax collections from the total amount wagered reaching new heights, funds are reinvested into state programs, infrastructure, and education. Taxes paid by operators during the first six months of 2024 have already surpassed those from the previous month in 2023.
Monthly Trends and Seasonality: Seasonal patterns will continue to influence revenue performance. For instance, June and July often see a dip in activity as fewer major sporting events occur. However, recovery is swift in the fall, with football season driving up both betting revenue and total figures for operators.
Regional Dynamics: New Jersey faces increased competition as neighboring states expand their betting markets. Yet, its strategic location and established reputation will ensure sustained growth.

New Jersey Snapshot

Key Aspect	Details
Population	Approximately 9.3 million residents as of 2024. (World Population Review, 2024)
Political Affiliation	Predominantly Democratic, New Jersey has a Democratic trifecta, with the party controlling the governorship and both legislative chambers. (270towin.com, 2024)
Year Sports Betting Legalized	New Jersey legalized sports wagering on June 11, 2018, when Governor Phil Murphy signed the sports betting bill into law. New Jersey's sports betting market launched on June 14, 2018, with both online and retail sportsbooks. (State of New Jersey, 2024)
Number of Sportsbooks Operating	Twelve sportsbooks operate in New Jersey, including Bet365, betMGM, betPARX, BetRivers, Borgata, Caesars Sportsbook, DraftKings, ESPN BET, Fanatics Sportsbook, FanDuel, Hard Rock, MVGBet, and Prime Sportsbook.
Gross Gaming Revenue (GGR) 2023	$1,006,681,602
Sports Betting Handle	$11,972,320,289
Professional Sports Teams	New Jersey is home to the New Jersey Devils (NHL), the New York Red Bulls (MLS), and NJ/NY Gotham FC (NWSL). Fans often follow the New York Liberty (WNBA), which was previously based in the state before moving to Brooklyn. The New York Giants and New York Jets (NFL) play their home games at MetLife Stadium in East Rutherford, NJ.

FAQs on New Jersey Sports Betting Revenue

Market Leadership and Structure

What makes New Jersey a leader in the sports betting industry?

New Jersey was one of the first states to legalize sports betting after the repeal of PASPA in 2018, launching its market quickly with both retail and online sportsbooks. The state's innovative approach, requiring online operators to partner with licensed casinos or racetracks, and its high tax contributions to public services have positioned it as a benchmark for other states.

Why is Atlantic City important to New Jersey’s sports betting market?

Atlantic City is a vital hub for retail sportsbooks and online betting operations. Casinos like Borgata, Hard Rock, and Caesars are anchors for the state, providing significant revenue streams and partnering with major online operators.

Which sportsbooks operate in New Jersey?

As of December 2024, twelve sportsbooks operate in the state, including Bet365, betMGM, betPARX, BetRivers, Borgata, Caesars Sportsbook, DraftKings, ESPN BET, Fanatics Sportsbook, FanDuel, Hard Rock, MVGBet, and Prime Sportsbook.

What role does the Division of Gaming Enforcement (DGE) play?

The New Jersey Division of Gaming Enforcement oversees the sports betting market, ensuring compliance, protecting consumers, and regulating state and local jurisdictions.

Revenue and Performance Trends

How much sports betting revenue does New Jersey generate annually?

In 2023, New Jersey generated $1.01 billion in sports betting revenue, supported by a total handle of $11.97 billion. Year-to-date figures for 2024 indicate continued growth, with revenue surpassing $835.37 million by September.

How has sports betting revenue changed recently?

In September 2024, New Jersey's handle increased by 55.93% from August, while revenue surged by 1231.76%, showcasing the impact of seasonal trends and major sporting events on the market.

What is the impact of taxes on New Jersey’s sports betting revenue?

Retail sports betting revenue is taxed at 9.75%, while mobile and online wagering are taxed at a higher rate of 14.25%. These taxes have generated substantial funds, reaching over $119 million by September 2024, contributing to state education, infrastructure, and public programs.

What trends are shaping New Jersey's sports betting market?

New Jersey's market is shaped by seasonal trends, with significant spikes in betting activity during major events like the NFL playoffs and Super Bowl. Monthly handle figures typically dip in summer months like June and July but rebound strongly in the fall. Emerging technologies and increased competition among online partners also continue to drive growth.

Sports Teams and Partnerships

How do professional sports teams in New Jersey enhance the market?

Teams like the New Jersey Devils have formed partnerships with major sportsbooks such as FanDuel, Caesars, and William Hill, integrating sports betting into the fan experience with branded spaces and promotional campaigns. These collaborations help boost engagement and revenue.

What role do sportsbooks play in the success of New Jersey teams?

Sportsbook partnerships allow teams to expand their reach and improve fan engagement. For example, branded experiences at the Prudential Center, like the Caesars Club and FanDuel sponsorships, offer fans immersive experiences and strengthen betting activity tied to these teams.

Future Outlook

What is the outlook for New Jersey’s sports betting market?

New Jersey is expected to maintain its dominance through strategic partnerships, innovations in mobile betting, and a strong regulatory framework. Despite growing competition from neighboring states, the Garden State’s reputation and established market give it a significant edge moving forward.

What developments are expected in New Jersey’s sports betting market?

Future developments include expanding partnerships with professional teams, adopting cutting-edge technologies like AI for personalized betting experiences, and continuing to grow tax revenue contributions, which will support public initiatives across the state.

New Jersey Sports Betting Revenue Insights