The New Jersey Division of Gaming Enforcement reported $91.9 million in adjusted sports betting revenue for June on Wednesday as the Garden State surpassed $5 billion in total operator winnings.
New Jersey is in select company at the milestone alongside neighboring New York as the only states to reach $5 billion. Revenue surged 52.9% compared to last year thanks to an 11.6% hold that ranks sixth all-time in 85 months of wagering in the post-PASPA era.
It is the first time New Jersey sportsbooks attained double-digit holds in back-to-back months since a four-month run from May to August 2023. Handle ticked 5.6% higher to $790.4 million, which was enough to push year-to-date wagering above $6 billion.
June also brought a close to Fiscal Year 2025 in New Jersey, with operator revenue down 5.7% from FY 2024 at $1.07 billion and handle was 10.6% lower. The near-$12 million in tax receipts for the month lifted the July-June total to $138.2 million, down $8.5 million from the previous fiscal year.
Digital sportsbooks started July being taxed at 19.75% for the new fiscal year, up from the previous 13% rate.
Fanatics makes run to eight-figure haul
The lion’s share of June revenue can be sourced to three books: FanDuel, DraftKings, and Fanatics. They combined for $72.1 million in winnings, with FanDuel pacing all operators at $35.8 million. Despite the late surge, FanDuel’s year-to-date revenue of $222.3 million is down 7.6% from the first six months of 2024.
DraftKings claimed $24.3 million in winnings, edging over $150 million for the first half of 2025. That represented a 9.7% year-over-year increase while clearing $20 million every month but March.
Fanatics posted its second-best monthly revenue total since the gaming division began publishing monthly operator figures at the start of last year with a haul just shy of $12 million. The $45.6 million in revenue this year, however, is less than half the $92.1 million accrued with predecessor PointsBet when combining the two books’ revenue totals with Fanatics’ May 2024 launch.
BetMGM had a four-fold increase in winnings from May to $5.9 million, contributing to a 17.4% bump in year-to-date revenue to $35.7 million. England-based bet365 completed the top five for earners with $4.8 million as first-half 2025 revenue surged 40.4% to $28 million.
ESPN BET more than doubled its year-over-year revenue to $16.5 million, with growth easier to come by in 2025 after posting $3.9 million in losses in January and February of last year. Hard Rock did likewise on a smaller scale with $7.9 million in revenue, boosted by three months with at least $1.5 million in winnings.
Parlays prove profitable (yet again)
Just over five out of every eight dollars of operator revenue in June came from parlays. Overall, house winnings totaled $57.7 million thanks to an eye-popping hold of 24.8% — the highest since reaching 29.2% in July 2023. It also marked the first time the hold was 23% or higher in back-to-back months since July and August 2023.
The overall hold on the multi-leg bets in 2025 is 19.5% as sportsbooks have accrued $361.9 million in revenue from $1.86 billion handle. The hold has topped 20% four times in 2025, but the overall win rate is dragged down by the 9.9% win rate in March thanks to chalk holding form in the NCAA Tournament.
The second largest chunk of revenue, $15.7 million, came from the catch-all “other” category. That includes hockey, soccer, golf, tennis, table tennis, boxing, and mixed martial arts in New Jersey. Sportsbooks had a 7.2% hold on $218.3 million from those wagers as revenue was up 2.1% despite a 10.1% dip in action.
Operators claimed $11.5 million in baseball winnings thanks to a 4.9% hold on $234.1 million. The win rate was nearly three-quarters of a percentage point lower than June 2024, sending revenue down 5.2% as handle rose 8.4%.
