New Jersey Online Gambling Hits Record $198.4 Million in August
New Jersey’s gambling industry reported total revenues of $555.1 million in August, marking a 4.4% increase compared to $531.6 million in the same month last year.
Online Gambling Sets a New Record
The most notable achievement came from the online gambling sector, which posted a record-breaking $198.4 million in revenue. This amount marks a 27.8% year-over-year increase.
Within the online gambling figures, internet slots generated $196.0 million, marking a 28.2% increase from the previous year. In contrast, online peer-to-peer games remained steady at $2.4 million for the month.
Golden Nugget maintained its position as the leading master licensee in the iGaming sector. Along with its associated skins—FanDuel, Betway, and BetRivers—it generated a combined revenue of $55.0 million.
Despite Golden Nugget’s overall lead, DraftKings emerged as the top individual online gambling operator, posting $43.2 million in revenue. Close behind was FanDuel with $41.3 million. Notably, Fanatics achieved a personal best, recording $2.6 million in revenue and signaling its growing presence in the market.
Decline in Sports Betting Revenue
Contrasting the growth in online gambling, the sports betting sector experienced a decline. Revenue from sports betting totaled $62.7 million in August, representing a 34.7% decrease compared to the same month last year.
Players wagered a total of $698.8 million on sports betting in August, a 3.7% decrease from the previous year. Of this total, $666.3 million was bet online, while $32.5 million was placed at retail sportsbooks across the state.
The market hold for sports betting—essentially the percentage of wagers the sportsbooks retained—stood at 9.0% for the month, down from July’s 12.3%. This decline indicates that sportsbooks kept a smaller portion of the betting volume compared to the previous month.
Meadowlands Racetrack, partnered with FanDuel, led the master licensees by generating $25.0 million in sports betting revenue. Among individual operators, FanDuel was the frontrunner with $24.2 million. DraftKings secured the second spot with $15.5 million, while BetMGM ranked third with $4.5 million.
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