The New Jersey Division of Gaming Enforcement (NJDGE) reported $74.8 million in sports betting revenue for July on Friday as operators attained a double-digit hold for the third consecutive month.
The 11.3% hold for July ranks eighth in 86 all-time months of wagering and marked just the second time in Garden State history the house posted back-to-back 11%-plus win rates. The other occasion took place in August and September 2022.
Year-over-year handle was up 1.8% to nearly $664 million, but revenue fell 6.6% because operators had their fourth-highest overall hold at 12.3% in July 2024. The state saw an inflow of $14.9 million into its coffers for the first month with the new 19.75% tax rate on mobile sports betting revenue, an increase of nearly $4.7 million compared to 12 months ago.
It’s the parlays, stupid
| Year | Revenue | Hold | Parlay Revenue | Hold | Percent of Total Revenue |
| 2023 | $61,013,433 | 10.39% | $39,296,445 | 29.21% | 64.41% |
| 2024 | $80,027,220 | 12.27% | $40,568,908 | 22.28% | 50.69% |
| 2025 | $74,769,434 | 11.26% | $41,035,573 | 20.95% | 54.88% |
| TOTALS | $215,810,087 | 11.34% | $120,900,926 | 23.59% | 56.02% |
Though July is often the month with the lightest handle, New Jersey sportsbooks have sang anything but the summertime blues thanks to the public’s struggles with parlays. This year marked the third consecutive July the house had a 10% or better hold in large part to holds on parlays surpassing 20%.
This year’s win rate of nearly 21% was down from last year, but revenue ticked 1.2% higher because $195.9 million wagered on multi-leg bets was up 7.6% compared to July 2024. Parlay handle accounted for just under 27% of total handle spanning the last three Julys, but parlay revenue represented 56% of the $215.8 million won by sportsbooks in those months.
That 23.6% hold in the month of July since 2023 is nearly 16.8 percentage points higher than the 6.8% win rate sportsbooks had on single-event wagers as they collected $94.9 million from $1.39 billion wagered those three years. The hold on single-event wagers this year was 7.2% as the house won $33.7 million from $468.1 million worth of accepted bets.
July also continued what has been a strong 2025 for operators when it comes to parlays. Hold has topped 20% in five of the seven months, peaking at 24.8% in June. Even with a sub-par March when sportsbooks had a win rate of 9.9% on parlays, they have cleared $400 million in revenue thus far while posting a 19.6% hold against $2.05 billion wagered.
New Jersey sportsbooks claimed $640.9 million in parlay revenue in 2024 with a 17.5% hold.
Fanatics makes leaderboard charge
Though the NJDGE does not disclose handle figures by either operator or wagering category, the high parlay hold likely contributed to usual suspects FanDuel and DraftKings ranking 1-2 in revenue with $26.9 million and $21.1 million, respectively. But both titans saw a notable downturn in year-over-year revenue: FanDuel was down 15.7% and DraftKings 18.8% as their combined revenue dipped $9.9 million.
Into that gap stepped Fanatics, whose near-$8 million haul was a three-fold increase from July 2024, which was $5.3 million in terms of dollars. Its $26.1 million accrued the last three months is more than the $22.7 million won in all of 2024 following a May launch.
BetMGM also had a solid year-over-year gain at 21.5% in claiming $6.4 million, while bet365 completed the top five earners at $4.4 million. That was a 45.4% surge from 12 months prior as the England-based sportsbook notched its fourth straight month with at least $4 million in revenue.
While mobile sportsbooks enjoyed July, their Atlantic City counterparts certainly did not as they collectively paid out $680,018 above their $33.1 million handle. Much of that can be chalked up to the Borgata, which got hammered for a $1.7 million loss — its largest since paying out $2.6 million above handle in January 2022. The poor July swung Borgata into the red for 2025 with a deficit of $725,437.
