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In a May highlighted by a deep NBA playoff run by the nearby New York Knicks, New Jersey sportsbooks saw year-over-year declines in handle and revenue.
Key Takeaways
- New Jersey operators haven’t generated a $1-billion monthly handle since January.
- The Knicks’ 8-0 playoff record in May favored bettors and weighed on sportsbook revenue.
- Sportsbooks still won back a solid 9.3% from a $912.9-million handle.
The New Jersey Division of Gaming Enforcement recently reported that online and retail operators combined to generate $912.9 million, a 9.6% decrease from May 2025’s $1.01 billion. Garden State sportsbooks still haven’t produced a $1-billion handle since January, and May’s wagering was down 2% from April.
May’s gross revenue of $85.2 million also dipped 16.9%, but operators still recorded a solid 9.3% hold in a month when the Knicks went 8-0. New Jersey sports betting reached a double-digit win rate last May.
Revenue breakdown
The Garden State’s 16 online sportsbooks produced $83.7 million in New Jersey revenue, a 14.6% decline compared to the previous May. The down month didn’t put too much of a damper on the year-to-date total. The $455.6 million for mobile operators in 2026 is down just 1% compared to the first five months of 2025.
Retail revenue took a sharper year-over-year decline, falling from $4.5 million in May 2025 to $1.5 million in the latest reported month.
Operators paid out $18 million in taxes to the state, which has amassed nearly $95 million from sports betting alone in 2026.
FanDuel stays on top
| Online Operator | May Revenue | YTD Revenue |
|---|---|---|
| FanDuel | $34.5 million | $181.6 million |
| DraftKings | $21.7 million | $117.6 million |
| Fanatics Sportsbook | $7.6 million | $38 million |
| bet365 | $7 million | $33.2 million |
| BetMGM | $6.1 million | $35.9 million |
| Caesars | $1.8 million | $12.5 million |
FanDuel’s $34.5 million in gross revenue led all online sportsbooks in New Jersey during May. The operator’s profits were down 22% from last May, while year-to-date revenue is down 2.6%. DraftKings suffered an even bigger drop as year-over-year revenue fell 23.4% to $21.7 million. Revenue for all of 2026 is down 7% compared to the first five months of 2025.
Fanatics held off bet365 and BetMGM to produce the third-best revenue, reaching $7.6 million, a 22.6% increase from the previous May. bet365 ranked fourth with $7 million in revenue, pushing the operator past $30 million in 2026, a 43% year-over-year increase.
BetMGM’s $6.1 million improved greatly from the $1.5 million the operator produced last May, and year-to-date profits are up over 20%. Caesars stayed just ahead of Hard Rock Bet ($1.6 million) and theScore Bet ($1.4 million), which experienced a 71% revenue decline from last year, when the PENN Entertainment brand was still using ESPN.
No other operators reached $1 million in May revenue, and Prime Sportsbook was the lone online sportsbook to finish May in the red.
iGaming flourishes
New Jersey’s online casinos generated $276.3 million in May revenue, an 11.9% year-over-year profit increase. Year-to-date revenue from iGaming surpassed $1.3 billion after May’s haul, leading to 14.4% growth from the previous five-month period.
Land-based casino revenue was stagnant in May compared to the same month in 2025, and total gaming revenue reached $627.1 million, a 2% year-over-year increase. Year-to-date total gaming profits of $2.9 billion are up 7.2% from the same period last year, while the Garden State’s tax revenue closed in on $420 million year-to-date.
This article originally appeared on Covers.com, read the full article here and view our best betting sites or check out our top sportsbook promos.
