Garden State sports betting operators took a step back in December. The New Jersey Division of Gaming Enforcement reported a $1.22 billion monthly handle, a 5.4% year-over-year decrease and a less than 1% drop from November.
Revenue was hit the hardest, with a 5.2% hold, down from 8.5% in December 2023 and 9.7% in November 2024. That led to online and retail sports betting revenue of $62.8 million, 42.6% less year-over-year and down 47.2% month-over-month. It’s the lowest amount of monthly profits generated during football season and the fourth lowest overall in 2024.
Online sportsbooks accounted for $1.16 billion of December’s total handle. Brick-and-mortar operators produced a hold under 2% on a $52.4 million handle. Still, sports betting operators combined to surpass $1 billion in revenue during 2024 for the second consecutive year. The $1.09 billion was up from $1.1 billion in 2023.
Yearly handle reached $12.8 billion, the most ever in a single year and nearly 7% higher than in 2023. The latest 12-month handle also marks the fourth consecutive year Garden State bettors wagered over $10 billion. New Jersey filled its coffers with $8.2 million, running the state’s total to $141.2 million in 2024 tax revenue.
Football hold dips
Sportsbooks struggled against football bettors for the second time in three months. The NFL and college football led to $14 million on a $389.4 million handle. That’s down from November’s $17.4 million in revenue on a $376.5 million handle.
Operators’ football hold fell from 4.6% in November to 3.6% in December, and bettors’ improved success also led to the hold dropping in half to 9.1% on a $409.1 million handle, up 4% month-over-month.
Basketball produced a 3.2% hold on a $286.7 million handle, accounting for $9 million of the overall sportsbook revenue. The “other sports” category, including soccer, tennis, boxing, golf, hockey, MMA, and auto racing, brought in $8.3 million in revenue.
FanDuel, DraftKings endure significant change
| Operator | December Revenue | YTD Revenue |
| FanDuel | $29.7 million | $459.4 million |
| DraftKings | $15.7 million | $289 million |
| BetMGM | $6.1 million | $70.7 million |
| Fanatics Sportsbook | $5 million | $111 million (PointsBet included) |
| bet365 | $2.9 million | $43.8 million |
| Caesars | $1.7 million | $36 million |
FanDuel closed out 2024 with $29.7 million in revenue, running its yearly total to nearly $460 million. Bettors had a better December against one of the top online sportsbooks in New Jersey as profits fell 40% month-over-month.
DraftKings’ December revenue of $15.7 million was well under half of what the operator made in November. A tougher December led to DK falling just short of $290 million for the year.
BetMGM had the third-best revenue total in New Jersey at $6.1 million, more than $3 million less than November.
Fanatics Sportsbook jumped from sixth in November to fourth in December with $5 million in hold. Combined with PointsBet, the platforms generated $111 million in yearly revenue, the third-highest total in New Jersey.
bet365 and Caesars both fell short of $3 million in hold, a figure they both surpassed in November. Six Garden State sports betting operators, including ESPN BET, Hard Rock Bet, and Prime Sports, reported losses in December.
Total yearly gaming revenue rises
The NJDGE reported a total gaming revenue of $522.6 million. Casinos, racetracks, and betting partners combined to generate $6.3 billion in profit during 2024, a 9% year-over-year increase.
iGaming accounted for $228 million of December’s revenue and represented a 26.5% rise from the same month in 2023. Online casinos saw their revenue jump from $1.92 billion in 2023 to $2.39 billion last year.
