The New Jersey Division of Gaming Enforcement (DGE) reported $116.3 million in sports betting revenue for October on Monday as operator winnings surged nearly 50% compared to last year.
It was the fifth-highest monthly revenue total posted by sportsbooks in the Garden State as October marked the third time they cleared $100 million in winnings. There was a 9.3% increase in handle as the $1.24 billion worth of accepted wagers snuck into the bottom of the top 10.
The statewide hold of 9.4% was an increase of more than 2.5 percentage points and marked the seventh time this year it was 9% or higher. New Jersey sportsbooks accomplished that feat six times in all of 2024.
Operators remitted $22.3 million in taxes to the state as the 19.75% rate that took effect at the start of the fiscal year July 1 continues to make an impact. The $71.8 million collected in the first four months of Fiscal Year 2026 is running $28.3 million ahead of last year’s pace when the tax rate on mobile wagers was 13%.
Lots of little gains make for a notable chunk
Operators did not perform at an elite level in any sport among figures released by the DGE, but year-over-year increases were evident in all five categories for which the agency provides handle and revenue figures.
The biggest jump in revenue came in parlays, where the $63 million won represented a 60% increase. The $437.4 million worth of wagers on the multi-leg bets was the most since a record $493.7 million in January 2024 and was the third time action topped $400 million. Operators finished with a 14.4% win rate on parlays, 3.8 percentage points higher than last year, but it was also the first time they had back-to-back months with sub-15% holds since November-December 2023.
The house fared much better in baseball, likely boosted by the New York Yankees losing in the American League Championship Series. Revenue was up 59.6% to $7.4 million despite handle shrinking 20.4% to $83 million. The 8.9% hold was slightly more than double the 4.4% attained in October 2024.
Football winnings bumped 13% higher to nearly $19 million on the strength of a 5.4% hold against $349.5 million handle. The catch-all “other” category — golf, hockey, soccer, tennis, table tennis, and MMA in New Jersey — provided $10.1 million in operator revenue. That was up 11.4% from last year despite a dip in the hold to 4.4%.
FanDuel, DraftKings still on the 1s and 2s
FanDuel and DraftKings maintained the status quo as the top two revenue drivers in the state, though the latter had a higher year-over-year increase in terms of percentage. The $30.5 million posted by DraftKings was up 37.3%, while the $39.5 million claimed by FanDuel represented a 14.4% rise.
Fanatics ($11.4 million) and BetMGM ($10.2 million) completed the quartet with eight-figure revenue hauls for October. Fanatics had a nearly seven-fold increase in revenue year-over-year in crossing $10 million for the third time this year. BetMGM crossed the eight-figure threshold for the first time since the DGE began releasing operator figures last year as its revenue soared 40% higher.’
England-based bet365 also set a new standard at $6.5 million, up 78.7% from a year ago. Its $49.5 million in year-to-date revenue has already surpassed its full-year 2024 total of $43.8 million.
Hard Rock also had its best month dating to January 2024 at $2.6 million, which was also a $3.6 million revenue swing to the positive after finishing more than $1 million in the red last October. Both Caesars ($3.8 million) and outgoing ESPN Bet ($2.7 million) maintained their respective narrow revenue bands over the past three months, though ESPN Bet did have a 70.7% year-over-year increase in revenue.
