- New Jersey gambling had a big November, earning $636.2 million as sportsbooks and online casinos stayed strong year over year.
- During a busy football and basketball stretch, sports betting generated $146.3 million in revenue from $1.28 billion in wagers.
- Online betting was dominated by FanDuel and DraftKings, with the state receiving $28.6 million in gambling taxes.
TRENTON, N.J. – New Jersey’s gambling scene had a killer November, pulling in $636.2 million across all gaming operations. That’s a huge 14.2% jump from last year and even beat out October’s numbers by 4.1%, which shows things are still going strong as we head toward the end of 2025.
Last month, sportsbooks cashed in big. They made $146.3 million from wagers totaling an astounding $1.28 billion, a 23% increase over November 2024.
Thanksgiving week brought tons of NFL games, college football was wrapping up, and basketball season was in full swing with both NBA and college hoops getting going.
Legal Betting Surges Amid Football Fever
There’s an intriguing aspect of the sportsbooks’ performance. Their hold percentage, or the amount of money they retain from each wager, reached 11.4%. That was the second-best rate of the year, up more than 1.5 points from November of the previous year.
The hold only exceeded 11% three times in 2025, indicating that legal sports betting businesses are becoming increasingly adept at keeping their books balanced and turning a profit.
With $61.4 million in revenue, FanDuel completely dominated the online betting market. That was $20 million more than the month before and 24% higher than last year, making a pretty significant growth.
With $38.3 million, DraftKings finished second and is almost at $300 million for the entire year. After that, the competition intensifies, with Fanatics Sportsbook and BetMGM both earning over $10 million and essentially tied for third place through December.
The majority of the action was handled by online betting apps, which generated $142.5 million in revenue. In addition, casinos with legal New Jersey sportsbooks received an additional $3.8 million from in-person wagers.
Due to all that wagering, New Jersey received $28.6 million in taxes for the month of November alone. The state has earned about $458 million so far this year. Despite a little decline from October’s record numbers, online casinos enjoyed a strong month with $253 million in revenue.
