New Jersey’s sports betting market delivered strong returns in April 2025, with sportsbooks generating $90.5 million in gross revenue, even as the total betting handle slipped just below the $1 billion threshold. The $994.4 million handle represented a 10.4% decline from March and a modest 1.5% drop compared to April 2024, according to data from the New Jersey Division of Gaming Enforcement.
According to a 2025 Gambling Industry Report by iGaming Direct, this fits into the current global gambling market expansion. Thus, gaming industry experts believe this is just the tip of the iceberg. Especially with the FIFA Club World Cup taking place this summer in Atlanta which will increase the betting volume.
An Eventful Month for Sports Bettors in New Jersey
April wasn’t short on action. The betting calendar was stacked with high-profile sporting events that kept fans and sportsbooks busy.
· The NCAA Final Four kicked things off during the first weekend of April, riding the tail end of March Madness. While most of the tourney leaned toward the favorites (to the joy of bettors), sportsbooks didn’t fare as well with limited upsets, resulting in slimmer margins.
· NBA Playoffs began on April 19, injecting late-month energy into basketball betting. With local favorites like the New York Knicks clashing with the Detroit Pistons, fan engagement in New Jersey spiked—especially on mobile platforms.
· The 2025 Stanley Cup Playoffs also launched on April 19. Though hockey doesn’t draw the same numbers as hoops, it still commands a loyal betting audience. Nationally, 11% of sports bettors place wagers on hockey, and the postseason tends to boost that activity.
· Meanwhile, MLB season provided steady daily betting action for Yankees, Mets, and Phillies fans, filling the gap between marquee events.
· The NFL offseason meant quieter times overall for sportsbooks, given that 51% of U.S. bettors favor football. Still, the NFL Draft on April 25 added a brief uptick in betting volume.
Despite this packed lineup, the overall handle declined compared to March. This was likely due to football’s absence and bettors' strong showing during March Madness.
A Closer Look at April’s Sports Betting Numbers
· Total handle: $994.4 million
· Gross revenue: $90.5 million
· Hold percentage: 9.1%
· Monthly tax revenue: $11.7 million
· YTD tax revenue: $46 million
According to Betting Center News and Info, This marks the third consecutive month where the hold rate was below double digits, a sign of consistent but competitive betting behavior from the public.
Online Sports Betting in New Jersey Continues Its Dominance
New Jersey’s bettors are fully embracing the digital age. In April:
· $954.1 million of wagers came from online platforms
· Just $40.4 million was bet at retail sportsbooks
· That means over 95% of all bets were placed online
The convenience of mobile betting, quick deposits, real-time data access, and seamless withdrawals (often via crypto) has made it the preferred choice for most. Offshore sportsbooks also continue to draw traffic, thanks to generous bonuses and promotional deals that local operators can’t always match.
Retail sportsbooks still see foot traffic, especially on game days for fans craving that social, in-person betting vibe. But the numbers don’t lie. Online is king in the Garden State.
Top Online Sportsbooks in April 2025
|
Operator |
April Revenue |
YTD Revenue |
|
FanDuel |
$31.8M |
$142.2M |
|
DraftKings |
$22.4M |
$98.2M |
|
Fanatics |
$12.9M |
$27.5M |
|
BetMGM |
$7.1M |
$28.4M |
|
bet365 |
$5.6M |
$17.2M |
|
ESPN BET |
$3.5M |
$10.0M |
FanDuel remains the market leader, though its April performance dropped about 16% YoY. DraftKings bucked the trend, rising 18% YoY. Fanatics Sportsbook saw explosive growth, nearly tripling its March revenue, thanks in part to its full rebrand from PointsBet. BetMGM, bet365, and ESPN BET also showed healthy month-over-month gains.
Policy Shakeup: Proposed Tax Hike Could Reshape the Market
Even as the industry posts impressive revenue, a policy storm may be brewing. Governor Phil Murphy has proposed a sharp increase in tax rates for both sports betting and iGaming, moving from the current 13% to 25% starting in 2026. That would align New Jersey with neighboring New York, one of the most heavily taxed betting markets in the U.S.
Critics warn the hike could:
· Harm the consumer experience
· Reduce promotional offerings from licensed sportsbooks
· Push bettors toward offshore operators, which already offer better bonuses and fewer restrictions
The proposal is far from finalized, and it’s expected to be met with resistance during legislative negotiations. However, if passed, it could dramatically alter the competitive landscape for sportsbooks operating in New Jersey.
Final Thoughts
New Jersey’s April sports betting performance underscores the market’s resilience—even without the NFL driving action. With nearly $1 billion in wagers and a solid $90.5 million in revenue, the state remains a powerhouse in the U.S. betting scene. Digital betting dominates, mobile sportsbooks are thriving, and FanDuel, DraftKings, and Fanatics are fighting hard for the top spot.
Still, all eyes are on the proposed tax hike, which could tip the balance between state-regulated operators and their offshore counterparts.