New Jersey was destined to be a leader in the US sports betting market. The industry is thriving thanks to New Jersey’s successful court case that resulted in the Professional and Amateur Sports Betting Act (PASPA) overturn and effectively made it possible for states other than Nevada to legalize sports wagering.
While New Jersey is no longer the top sports betting market in the country (New York rise up!) it still remains one of the most lucrative and active markets in the U.S.
Below you can scroll back in time to see the growth of sports betting in the Garden State. Read on for an in-depth look at the business of sports betting in New Jersey.
New Jersey Sports Betting Revenue: Month-by-Month Data
We’re keeping track of monthly New Jersey sports betting revenue reports from the first legal bets in June 2018 to date.
For clarity, here’s what each number represents:
- Handle refers to the total amount wagered on sports.
- Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winning bets.
- Hold percentage shows how much revenue sportsbooks kept as a function of the betting handle.
- State tax revenue displays taxes collected by the state and local jurisdictions.
The table below shows New Jersey’s sports betting handle, gambling revenue, and hold percentage, as well as state tax revenue collected each month since legalization.
$1,815,719,8716.7%$229,109,885
| Month/Year | Total Handle | Revenue | Hold Percentage | State Tax Revenue |
|---|---|---|---|---|
| June 2018 | $16,409,619 | $3,458,668 | 21.08% | $337,077 |
| July 2018 | $40,682,237 | $3,845,880 | 9.45% | $377,015 |
| August 2018 | $95,634,048 | $9,198,272 | 9.62% | $1,038,073 |
| September 2018 | $183,948,404 | $23,775,366 | 12.93% | $2,883,517 |
| October 2018 | $260,711,301 | $11,686,119 | 4.48% | $1,536,282 |
| November 2018 | $330,748,563 | $21,243,865 | 6.42% | $2,730,521 |
| December 2018 | $319,173,548 | $20,814,222 | 6.52% | $2,695,290 |
| January 2019 | $385,279,662 | $18,777,582 | 4.87% | $2,532,619 |
| February 2019 | $320,368,087 | $12,732,740 | 3.97% | $1,817,553 |
| March 2019 | $372,451,342 | $31,669,387 | 8.50% | $4,180,051 |
| April 2019 | $313,719,562 | $21,215,747 | 6.76% | $2,817,206 |
| May 2019 | $318,940,677 | $15,536,384 | 4.87% | $2,135,704 |
| June 2019 | $273,222,975 | $9,701,925 | 3.55% | $1,258,541 |
| July 2019 | $251,371,272 | $17,884,790 | 7.11% | $2,367,745 |
| August 2019 | $293,594,862 | $25,210,342 | 8.59% | $3,327,589 |
| September 2019 | $445,563,503 | $37,883,375 | 8.50% | $5,017,875 |
| October 2019 | $487,924,504 | $46,393,537 | 9.51% | $5,662,148 |
| November 2019 | $562,675,543 | $32,895,546 | 5.85% | $4,460,461 |
| December 2019 | $557,786,161 | $29,424,884 | 5.28% | $4,016,635 |
| January 2020 | $540,113,452 | $53,561,626 | 9.92% | $7,328,175 |
| February 2020 | $494,813,807 | $17,000,928 | 3.44% | $2,377,923 |
| March 2020 | $181,908,529 | $13,181,101 | 7.25% | $1,732,276 |
| April 2020 | $54,593,092 | $2,634,050 | 4.82% | $356,726 |
| May 2020 | $117,821,281 | $9,912,062 | 8.41% | $1,303,244 |
| June 2020 | $165,014,553 | $12,639,282 | 7.66% | $1,652,950 |
| July 2020 | $315,118,805 | $29,551,987 | 9.38% | $3,671,891 |
| August 2020 | $667,979,150 | $39,507,181 | 5.91% | $4,919,340 |
| September 2020 | $748,588,349 | $45,083,178 | 6.02% | $5,604,501 |
| October 2020 | $803,096,172 | $58,508,647 | 7.29% | $7,440,873 |
| November 2020 | $931,620,415 | $50,554,535 | 5.43% | $6,233,822 |
| December 2020 | $996,300,794 | $66,386,516 | 6.66% | $8,269,676 |
| January 2021 | $958,717,526 | $82,640,979 | 8.62% | $10,362,389 |
| February 2021 | $742,953,328 | $46,213,864 | 6.22% | $5,800,343 |
| March 2021 | $859,617,961 | $60,755,472 | 7.07% | $7,746,512 |
| April 2021 | $747,986,522 | $54,839,217 | 7.33% | $6,789,849 |
| May 2021 | $814,270,654 | $52,895,430 | 6.50% | $6,775,113 |
| June 2021 | $766,888,420 | $71,267,544 | 9.29% | $8,732,715 |
| July 2021 | $578,729,290 | $54,966,257 | 9.50% | $4,331,299 |
| August 2021 | $664,675,859 | $52,023,081 | 7.8% | $6,678,542 |
| September 2021 | $1,011,114,311 | $82,440,420 | 8.2% | $10,172,247 |
| October 2021 | $1,303,198,342 | $84,152,035 | 6.5% | $10,583,756 |
| November 2021 | $1,258,189,436 | $114,788,726 | 9.1% | $14,595,181 |
| December 2021 | $1,229,561,891 | $59,047,673 | 4.8% | $7,676,197 |
| January 2022 | $1,348,860,083 | $60,195,902 | 4.5% | $8,019,106 |
| February 2022 | $985,568,313 | $30,873,369 | 3.1% | $4,292,710 |
| March 2022 | $1,120,904,954 | $66,404,370 | 5.9% | $8,238,237 |
| April 2022 | $926,946,780 | $50,345,808 | 5.4% | $6,425,923 |
| May 2022 | $766,412,352 | $61,594,016 | 8.1% | $8,315,192 |
| June 2022 | $633,184,861 | $39,245,213 | 6.2% | $4,913,338 |
| July 2022 | $531,888,333 | $45,007,343 | 8.5% | $5,824,135 |
| August 2022 | $546,774,394 | $65,272,385 | 11.9% | $8,324,147 |
| September 2022 | $866,719,412 | $97,981,122 | 11.3% | $12,126,902 |
| October 2022 | $1,060,154,535 | $77,907,041 | 7.3% | $9,879,163 |
| November 2022 | $1,101,622,966 | $80,426,931 | 7.3% | $3,801,098 |
| December 2022 | $1,055,556,994 | $87,701,471 | 8.3% | $11,348,015 |
| January 2023 | $1,082,233,033 | $72,330,439 | 6.7% | $9,441,521 |
| February 2023 | $847,405,611 | $54,621,220 | 6.4% | $7,125,279 |
| March 2023 | $1,025,779,225 | $93,039,999 | 9.1% | $11,908,154 |
| April 2023 | $833,980,925 | $72,304,036 | 8.7% | $9,211,004 |
| May 2023 | $778,854,263 | $82,165,404 | 10.5% | $10,465,932 |
| June 2023 | $591,081,897 | $66,356,838 | 11.2% | $8,380,344 |
| July 2023 | $587,019,749 | $61,013,433 | 10.4% | $7,702,784 |
| August 2023 | $725,849,450 | $96,041,019 | 13.2% | $12,345,166 |
| September 2023 | $1,299,016,274 | $111,145,385 | 8.5% | $14,260,414 |
| October 2023 | $1,293,468,722 | $92,258,295 | 7.1% | $11,797,865 |
| November 2023 | $1,623,072,184 | $95,889,050 | 5.9% | $12,309,198 |
| December 2023 | $1,284,560,140 | $ 109,426,484 | 8.5% | $13,937,753 |
| January 2024 | $1,719,170,088 | $170,758,334 | 9.9% | $22,211,910 |
| February 2024 | $1,081,171,835 | $67,564,386 | 6.2% | $9,118,306 |
| March 2024 | $1,329,010,828 | $89,687,971 | 6.7% | $11,015,159 |
| April 2024 | $1,044,283,588 | $106,227,937 | 10.2% | $13,772,067 |
| May 2024 | $838,946,057 | $78,750,983 | 9.4% | $10,372,672 |
| June 2024 | $748,417,965 | $60,066,927 | 8.0% | $7,797,572 |
We’ll keep you informed with the essential data and analysis of monthly New Jersey sports betting revenue reports.
NJ Annual Sports Betting Revenue Totals
The New Jersey market has seen steady growth since its launch in June 2018. After recording more than $4.5 billion wagered in 2019 – the first full calendar year of legal betting – New Jersey finished 2020 as the largest sports betting market in America with over $6 billion in wagers placed. This is a full 28 percent of the entire annual US sports betting handle in one state.
| Year | Total Handle | Revenue | Hold Percentage | State Tax Revenue |
|---|---|---|---|---|
| 2018 | $1,247,307,720 | $94,022,392 | 7.54% | $11,597,775 |
| 2019 | $4,582,898,150 | $299,326,239 | 6.53% | $39,594,127 |
| 2020 | $6,016,968,399 | $398,521,093 | 6.62% | $50,891,397 |
| 2021 | $10,936,041,596 | $815,759,995 | 7.46% | $100,244,193 |
| 2022 | $10,944,593,977 | $762,954,971 | 6.97% | $97,879,592 |
| 2023 | $11,972,321,473 | $1,006,591,602 | 8.4% | $128,885,414 |
New Jersey Market Overview
Before we get to revenue trends, let’s consider some key information to set the scene in New Jersey.
State Population (2020 Census): 9,288,994
In-state Pro Teams: New York Jets and New York Giants (NFL), New Jersey Devils (NHL), New York Red Bulls (MLS)
Market Launch Date: June 14, 2018
Biggest Monthly Handle: $1,719,170,088 (January 2024)
Biggest Monthly Tax Revenue Total: $14,260,414 (September 2023)
Regulator: New Jersey Division of Gaming Enforcement
Platforms: Online and retail
Tax Rate: 8.5 percent of land-based revenue and 13 percent of online betting revenue
New Jersey Sports Betting Revenue Trends
Aside from the small dip in spring 2020, New Jersey’s sports betting market has been trending upwards at an impressive rate.
In August 2018, DraftKings became the first online sportsbook in the country available outside of Nevada, opening up the floodgates for online sports betting across America. New Jersey has long benefited from being an early adopter of mobile betting.
New Jersey is the only state to crack the top-10 in total sports betting handles for a month. New York holds nine of the top-10 months ever in sports betting handles totals, with New Jersey’s $1,719,170,088 in total handle for January 2024 coming in as the only lone month in the top-10 outside of the Empire State.
New Jersey’s most profitable month since launch was $14.26 million in online and retail sports betting tax revenues in September 2023. The state reported $1,299,016,274 in total handle for the month as well.
Also, for the first time in the state’s sports betting history, New Jersey topped $1 billion in total sports betting revenue in 2023.
Let’s explore a couple of factors that have helped New Jersey become a powerhouse sports betting destination.
One of the Top Markets in American Sports Betting
The Garden State has perhaps the most permissive set of rules and regulations for sports betting of any jurisdiction in America. A full-hearted embrace of online sports betting has paid off handily and turned New Jersey into the model for all other states to follow.
New Jersey has firmly lodged itself as the second most active and lucrative sports betting market in the country, behind New York. The Empire State launched online sports betting on Jan. 1, 2022, and quickly cemented itself as the top market in the U.S.
However, New Jersey does not lag far behind. While Florida recently legalized online sports betting as well, it’s limited by only having one online sports betting operator available to customers in the state. The Garden State currently has 21 licensed online sports betting operators in the state as of Aug. 2024.
Upcoming New Jersey Sports Betting Changes?
While New Jersey is one of the top markets in the country, several legislators believe it could be even bigger. Sen. John F. McKeon (D-27) officially introduced S3064 in April 2024, which aims to increase both the state’s sports betting and iGaming tax rates to 30% of gross gaming revenue. The state’s sports betting tax rate is currently at 13% and its iGaming rate is 15%.
If approved, New Jersey would be among the highest taxed states in the country for sports betting and iGaming.
New Jersey has one of the most robust sports betting and iGaming markets in the country, but does not tax the games at a level commensurate with the market. If the legislation is approved, the 30% tax rates for both sports betting and iGaming would bring them close to the level of neighboring New York and Pennsylvania.
New York’s sports betting rate of 51% is the highest rate in the country while Pennsylvania’s rate of 36% is the second highest. Delaware, New Hampshire, and Rhode Island also have rates higher than Pennsylvania, but they have limited markets with only one or two operators.
Pennsylvania currently levies a 54% tax rate on online slots, but table games are only taxed at 16%. If New Jersey’s iGaming rate is increased to 30%, it would put it ahead of Connecticut (18%), Michigan (20%), and West Virginia (15%).
Another piece of legislation currently being considered in the Garden State is from New Jersey Assemblyman Michael Venezia (D-34), who introduced an amendment, ACR140, to revise the state’s sports betting rules to allow for wagers on in-state college and university sports teams.
“Listen, if a person wants to truly bet on a New Jersey college sports game, they’re going to do it like they did before sports betting became legal. Why not regulate this, and why not receive revenue from this,” Venezia told Sports Betting Dime.
Venezia’s amendment comes nearly three years after residents voted down a similar amendment to allow wagers on in-state college teams. More than 57% of citizens voted against the constitutional amendment, easily defeating the measure.
Learn More About Betting on Sports in NJ and Beyond
New Jersey is now the beating heart of American sports betting and looks on track to remain so for quite some time.
Online sports betting currently dominates the Garden State, so find the best online sportsbooks and apps in NJ to bet online with. Don’t be surprised if bettors flock back to Atlantic City and other retail sportsbooks as the pandemic subsides later in 2021 and beyond.
Sports Betting Dime will keep you up to date with the latest developments in New Jersey along with the best betting promos to take advantage of. For more revenue-related information, be sure to check out our state-by-state sports betting revenue tracker.
