Super Bowl fuels New Jersey sportsbooks to $73.6m in February revenue
Garden State snaps streak of five straight $1bn handle months despite record wagering on big game
Super Bowl LIX wasn’t enough to stop New Jersey sports betting handle slipping below the $1bn for the first time in five months in February, according to new data from the New Jersey Division of Gaming Enforcement (NJDGE).
Despite Super Bowl records for both handle ($168.7m) and gross revenue ($25.2m) – likely fueled in part by the matchup of the neighboring Philadelphia Eagles and the Kansas City Chiefs – it was an otherwise quieter month for Garden State operators, which reported $73.6m in gross gaming revenue (GGR) on $988.9m in total wagering volume.
Handle, which failed to eclipse $1bn for the first time since August, was down 8.5% year-over-year (YOY) from $1.08bn in February 2024 and 14.2% month-over-month (MOM). Revenue, conversely, increased 8.9% annually from $67.6m during the same period of 2024.
The YOY discrepancy was attributable to a 7.4% statewide hold that registered as more than a full percentage point better than the below-average 6.3% win rate from February 2024.
As a result, sportsbooks sent $9.5m to the state in tax payments.
Turning to operators, FanDuel maintained its pole-position status after amassing $33.9m in gross revenue, which equated to just over 46% of the market.
DraftKings, with $20.3m in revenue, was well behind FanDuel for the second spot in the market but well ahead of third-place BetMGM, which tallied $5.9m in GGR for the month.
Rounding out the top five were bet365 ($4m) and Fanatics ($3.4m), followed by ESPN Bet ($1.5m), and Caesars ($1.2m). For the month, just over 96% of total handle came via online wagers.
On the igaming side, New Jersey operators generated $207.8m in February revenue, a 14% jump from $182.3m during the same period of 2024.
Through the first two months of 2025, online casino revenue has totaled $429.4m, 17.4% ahead of last year’s pace.
FanDuel alone accounted for $93.8m of online casino GGR, followed by DraftKings on $87.1m. BetMGM again was third in the GGR order, with $57m.