New Jersey’s iGaming revenue surges to record $243.9M in March
Data from New Jersey’s Division of Gaming Enforcement (NJDGE) has revealed that total gambling revenue in March 2025 hit $546.1 million, up 3.7 percent from the same month last year. The figure also represents a 12.6 percent hike from February.
iGaming sector outpaces land-based
Traditionally, in the state, land-based casinos have been the primary source of gambling revenue. However, in the recent months, iGaming sector has outpaced the brick-and-mortar casinos. During the month, , up 23.7 percent when compared to the same period last year. This month also marked the fourth time that iGaming outpaced all other gambling formats in the state.
The digital market was led by FanDuel with $52.3 million in revenue. This marked an increase of 25.7 percent. Following FanDuel was DraftKings at $49.6 million, up 20.3 percent and BetMGM, marking a 42.8 percent rise to generate $31.6 million.
Of the total iGaming revenue, $241.3 million came from “other authorised games”, including online slots. This marks a 23.9 percent increase from the previous year. Online poker bagged the remaining $2.6 million of the revenue, which marks a rise of 8.9 percent. In contrast, brick-and-mortar casinos are seeing a slow decline. Total land-based revenue in March dropped 3.7 percent year-on-year to $230.9 million.
Sports betting also took a hit
Along with land-based, sports betting also took a noticeable hit. Revenue from the sector fell 20.5 percent year-on-year to $71.3 million. Of this, $68.0 million came from online betting. This represents a decline of 20.6 percent from 2024. Retail sportsbook registered $3.3 million in revenue, marking a drop of 17.3 percent from last year.
The hit $1.11 billion, a sharp 23.5 percent drop from the previous year. Online betting registered $1.06 billion, while retail brought in $44.4 million. The monthly hold came in at 6.44 percent. Coming to tax collection, the state registered total of $59.8 million for the month. Of the total, $36.5 million came from iGaming, $14.3 million from land-based casinos and $8.8 million online sports betting. Another $241,482 was collected from retail sportsbooks in New Jersey.
Proposal for hike in taxes
In February, New Jersey Governor Phil Murphy proposed a significant increase in taxes for online gambling operations as part of his executive budget proposal. The plan calls for a 25 percent tax rate on both mobile sports betting and online gaming, up from the current rates of 13 percent and 15 percent, respectively. Murphy’s proposal aims to generate an additional $402 million in tax revenue; of this amount, $322 million would come from online casinos, while sports wagering would contribute $80 million. When including existing investment taxes, the effective tax rates would rise to 26.25 percent for sports betting and 27.5 percent for online gaming.
In related news, New Jersey Assemblyman Clinton Calabrese introduced bill A5196 in January to regulate the sweepstake casino industry. This bill marks a shift in how these platforms will operate within the state. In a move that will bring sweeping changes to this sector, this move aims to integrate sweepstakes into the broader legal and regulatory framework for online gaming in New Jersey. This approach will affect the operators and has broader implications for consumer protection, revenue generation and the overall economy.
