New Jersey sports betting just wrapped its best year ever, with operators taking more bets and generating more revenue than at anytime in the market’s five-year lifespan.
And, of course, the state of New Jersey collected more taxes — thanks in no small part to a higher tax rate on the much more widely used option of online sports betting in NJ — in 2023 than in any previous year.
According to recent data published by the Division of Gaming Enforcement, legal sports gambling in the Garden State attracted nearly $12 billion in wagers in 2023, including finishing the year with four straight months of more than $1 billion in bets.
Sportsbooks head into 2024 with momentum
December’s monthly handle — the total amount wagered — of $1.28 billion was the third consecutive time that sports betting apps in NJ took in $1 billion or more to close out a year. Between September and December, sports gamblers in New Jersey wagered more than $5.5 billion with legal bookmakers.
New Jersey sportsbooks raked in over $1 billion in revenue last year while the state collected roughly $128.9 million in taxes from legal sports gambling in 2023.
Last month alone, sportsbooks in NJ reported monthly revenue of $109.4 million in December, the third-highest total in state history. Land-based sportsbooks inside Atlantic City casinos or partnered with Jersey Shore gambling parlors reported $52.4 million in revenue, while the state’s licensed racetracks and their partners combined for another $57 million.
For the year, NJ sportsbooks associated with Atlantic City generated $471.7 million in revenue. The racetracks and their online sportsbooks posted $534.9 million in revenue last year.
Retail sports betting, taxed at 8.5% of revenue, generated $3.3 million for the state in 2023. Online and mobile sports gambling, which is taxed at 13% on revenue, ed for $125.6 million last year.
Breaking down individual licenseholders in New Jersey
Meadowlands Racetrack, featuring partners such as betting revenue stood as the third-best month of 2023 (and third consecutive month topping $50 million).
For perspective, that total is higher than the next four licenseholders combined.
Resorts was the only other to exceed $8 million, reporting $34.8 million in revenue thanks in large part to online partner DraftKings Sportsbook NJ.
After Borgata, driven by bet365 Sportsbook NJ, Hard Rock reported $4.1 million for its second-best month ever, behind only its $5.1 million in September.
Here’s a breakdown of NJ sports betting in December:
| Licensee | Online Brand(s) | Total Revenue | Retail Revenue | Online Revenue | Total Tax Obligation |
|---|---|---|---|---|---|
| Meadowlands | FanDuel | PointsBet | SuperBook | $51,118,381 | $1,818,483 | $49,299,898 | $6,563,580 |
| Resorts Atlantic City | DraftKings | Fox Bet | Resorts | $34,770,218 | ($70,886) | $34,841,104 | $4,529,363 |
| Borgata | BetMGM | Borgata | $7,054,981 | $507,191 | $6,547,790 | $890,369 |
| Hard Rock Atlantic City | Hard Rock | bet365 | Unibet | $4,127,202 | $151,622 | $3,975,580 | $529,713 |
| Tropicana Atlantic City | Caesars | Mojo | $4,116,770 | $334,878 | $3,781,892 | $517,815 |
| Freehold | ESPN Bet | PlayUp | betParx | $3,316,355 | $363,714 | $2,952,641 | $414,766 |
| Monmouth Park | Caesars | BetRivers | $2,557,826 | $1,115,930 | $1,441,896 | $285,026 |
| Harrah's Atlantic City | Prophet | $855,215 | $94,426 | 760,789 | $98,903 |
| Caesars Atlantic City | $597,465 | $597,465 | --- | $50,812 | |
| Ocean | Tipico | $464,079 | $114,424 | $349,655 | $45,490 |
| Bally's Atlantic City | Sporttrade | $366,416 | $134,428 | $231,988 | $11,426 |
| Golden Nugget Atlantic City | Golden Nugget | Betway | $81,576 | $25,923 | $55,653 | $490 |
| Total | $109,426,484 | $5,187,598 | $104,238,886 | $13,937,753 |
