New Jersey’s October iGaming Revenue Hits A Record Number of $260M
On November 17, the New Jersey Division of Gaming Enforcement released a report on the state’s October gaming revenue. According to the report, the gambling industry generated $611.1 million, reflecting a 22.3% year-over-year increase and an 8.4% month-over-month gain.
iGaming, in particular, contributed $260.3 million to the total gambling revenue, outperforming sports betting and land-based segments.
New Jersey’s iGaming Revenue Breaks a New Record
With $260.3 million in revenue, the iGaming segment crushed its own record of $248.8 million in August, increasing by 4.8%. This all-time high also marked the first time it has surpassed the $250 million threshold and represented a 21.8% spike compared to the same period last year.
Online table games and slots saw a 22% increase from last year, accounting for $257.7 million of the total iGaming revenue. Peer-to-peer online poker also followed the same upward trajectory with double-digit growth to $2.6 million.
Combining the October’s numbers, the 2025 iGaming revenue of New Jersey now soars to $2.39 billion, witnessing 22.6% year-over-year growth. This segment remains the primary driver of the state’s total gambling revenue.
With a higher total revenue comes higher tax receipts. New Jersey’s iGaming is currently subject to a 19.75% tax rate, which translates to $51.5 million in October.
FanDuel and DraftKings Dominate the NJ iGaming Market in October
FanDuel and DraftKings, two eternal rivals, contributed the most to New Jersey’s total iGaming revenue this month.
While both operators joined the $50 million club, FanDuel was the first to hit $60 million in revenue in the Garden State. With a revenue of 60.9 million, the operator saw a 26% year-over-year increase and became the industry leader in the state’s iGaming segment. October’s numbers have brought its 2025 total revenue to $533.3 million.
DraftKings ranked as the second most profitable operator in New Jersey, but it still trailed far behind the market leader.
Although the operator has been pursuing a second $50 million record for a whole year, it wrapped up October with $48.5 million in revenue, falling $1.5 million short of the target. The casino is expected to hit $500 million in total revenue for 2025, up from its current tally of $467.9 million.
BetMGM came as the third casino with $33.2 million, followed by Borgata with $21.9 million.
iGaming dominates the NJ gambling market, with FanDuel and DraftKings being the top contributors.
Sports Betting Enjoys a 49.8% Spike
While iGaming led the NJ gambling market, it was the sports betting segment that recorded the greatest year-to-year growth.
This month, sports wagering revenue jumped to $116.1 million, reflecting a 49.8% spike compared to the same period last year. Online betting was the main source of sportsbooks’ revenue with $110.7 million, increasing 45.9%, while retail revenue soared by 242.5% to $5.4 million.
New Jersey sportsbooks received a total of $1.24 billion in player bets, in which online wagers accounted for $1.19 billion. This took the total customer spending to $9.9 billion over the past 10 months, which was poised to hit $10 billion this year.
The landscape of sports wagering was similar to iGaming, where FanDuel and DraftKings continued to lead the market. In particular, FanDuel generated $39.9 million, while DraftKings contributed $30.5 million to the total sports betting revenue.
