It was the 12th time in state history that the bookmakers handled over $1 billion in wagers. Only rival New York has accepted more wagers than New Jersey for September, and the Garden State has handled a nation-best $41.5 billion in wagers since PASPA was overturned in 2018.
The 17 New Jersey sportsbooks also generated $111.1 million in September revenue for, a 37% hike from one year ago.
The 8.4% hold or win rate was the lowest since April 2023, indicating New Jersey sports bettors were sharper than the books during September.
DraftKings Top Mobile Earner for September
DraftKings Sportsbook NJ took the monthly mobile honors among the 17 operators, generating $49.8 million in September revenue. That’s a 122.4% increase from September 2022, and a sure sign the Boston-based bookmaker and DFS operator understands the Garden State betting markets and is here to stay.
FanDuel Sportsbook took the second spot with $34 million, a 27% drop from their 2022 revenue. Their partnership with Meadowlands has seen some changes, with Fox Bet closing its doors, but the company is still fruitful, and the NYC-based bookie isn’t going anywhere.
Borgata Sportsbook generated the third-most revenue during September. The $11.5 million revenue was a 15.2% hike from a year ago The MGM Resorts property has been in the sports betting business for a long time and still remains a top New Jersey betting option.
Hard Rock Sportsbook was the fourth and last bookmaker to generate at least $1 million in revenue. The Seminoles saw their $5 million reported revenue spike 176.5% from a year ago and a good sign for the Florida-based company.
Parlays and Pro Baseball Lead the Way
$709 million in year-to-date revenue doesn’t just fall from the sky, but with a whopping 21% win rate on parlays, it may as well have. In September, New Jersey sportsbooks earned $68.2 million on parlay cards, teasers, and same-game parlays.
That hold rate paled in comparison to the hold rates for Pro Baseball (11.1%), Basketball (3.8%), Football (1.8%), and all other sports combined (4.2%), and a huge reason why the sportsbooks generate so much income. It’s also why the sportsbooks promote parlays and other gimmicks so heavily.
New Jersey Tax Office Big Winner
Finally, no one profits more from legalized sports betting than the state of New Jersey. The 17 sportsbooks paid $51.4 million in September taxes for a year-to-date total of $438.7 million courtesy of legalized sports betting.