The New Jersey Division of Gaming Enforcement (NJDGE) reported $146.3 million in November on Tuesday as operators notched a nine-figure haul on parlay wagers.
It was the second-highest overall revenue total in Garden State history behind the $170.8 million posted in January 2024. Revenue was up 23% from last year as sportsbooks had a collective 11.4% hold, up 1.7 percentage points from November 2024.
Handle ticked higher 4.6% to $1.28 billion, ranking ninth in state history as it marked the 31st time monthly wagering surpassed $1 billion. The $11.17 billion in 2025 handle, though, is tracking 3.4% behind last year’s pace.
The state set a record in sports betting tax revenue for the second straight month at $28.6 million, the byproduct of the mobile sports betting rate increase to 19.75% that took effect at the start of the fiscal year July 1. New Jersey coffers have seen an inflow of $100.4 million in receipts the first five months with the new rate, up $41.6 million versus last year.
Multi-leg bets equal misery for bettors
Heading into the final month of 2025, it feels safe to say not many New Jersey bettors will look upon their parlays with fondness. The $666.4 million accrued by sportsbooks has topped 2024’s full-year total of $640.9 million, and the 18.7% hold on those wagers is tracking more than 1.2 percentage points higher.
Bettors made history for all the wrong reasons when it came to parlays in November as the house posted a robust 22.9% win rate in claiming $104.6 million in revenue from $457.1 million wagered. That smashed the previous revenue record of $98.4 million set in January 2024, and it was the sixth time in 2025 operators finished with a monthly hold of 20% or higher.
It was also a struggle on single-event football bets for the New Jersey wagering public. Operators collected $23.7 million, the highest regular-season monthly total since claiming $36.9 million in December 2023. The 6.3% hold on $375.3 million handle was up 1.7 percentage points from a year ago.
Basketball ($13 million) and the catch-all “other” category ($11.4 million) — which includes hockey, soccer, tennis, golf, and MMA in New Jersey — provided eight-figure collective revenue totals. Operators did report a $1.1 million loss paying out winning World Series tickets, which was 53.9% more than last year despite handle up more than threefold to $9.1 million.
If it’s parlays, it must be FanDuel on top
The NJDGE does not break out handle and revenue figures for sport categories by operator, but it is a safe belief that a good month for sportsbooks when it comes to parlays means a good month for FanDuel.
That appeared to hold true as the digital juggernaut led all comers with $61.5 million in November revenue. That was a high for 2025 and FanDuel’s second-best month since the state agency began providing operator revenue totals at the start of last year. FanDuel, though, needs $39.5 million in December revenue to finish with year-over-year growth from 2024.
DraftKings followed FanDuel on a smaller scale with its best month of 2025 at $38.3 million. That total also lags behind only its January 2024 haul ($40.3 million), but DraftKings does have a leg up on revenue growth compared to its eternal rival: Its $291.3 million in 2025 winnings has cleared last year’s total of $289.1 million.
Fanatics ($11.1 million) and BetMGM ($10.5 million) made it back-to-back months of New Jersey having at least four operators with eight-figure monthly winnings. For BetMGM, it was its best haul since the NJDGE began publishing monthly operator totals.
England-based bet365 had a similar outcome with close to $9 million in winnings, and both Caesars ($4.8 million) and Hard Rock Bet ($2.7 million) did likewise. November also marked the first time Hard Rock generated $5 million in sportsbook winnings in back-to-back months at any point since January 2024.
