October Delivers a Record $260.3 Million for New Jersey’s Online Casinos

While sweepstakes casinos are struggling in various states, New Jersey’s online casino industry has been reaping significant rewards. 

In the October report filed by the New Jersey Division of Gaming Enforcement, it noted that the state’s online casino industry is on a tear, with record revenues of $260.3 million for October 2025. This month’s figures beat the previous record of $248.4 million set last August. 

With October’s figures added into the equation, the state’s 2025 total surged to $2.39 billion, boasting a 22.6% increase from the same period last year. New Jersey’s online casino brands also combined to break September’s take of $243.1 million.

FanDuel Casino Leads the Field As It Banked $60M

FanDuel continues to lead the market with revenues hitting $60.9 million. It’s the only operator that managed to cross the $60-million mark, and reflects a 26% increase from last year. 

Next on the list is DraftKings Casino with $48.5 million, and BetMGM rounding up the third spot with its $33.2 million in revenues. FanDuel’s revenues for the year now hit $533.3 million, making it the most valuable casino brand for New Jersey.

DraftKings is also expected to breach the $500 million mark this year, with its current revenues sitting at $467.9 million.

Reading the Numbers, Analysis and Prospects

The latest data out of the New Jersey Division of Gaming Enforcement shows the dominance of online gambling. With a strong iGaming performance, the state can count on substantial tax revenues this year. Although online casinos dominate the state’s gaming market, other sectors have contributed as well. 

Based on the same report, New Jersey’s revenue growth can also be attributed to sports betting and physical casinos. This month’s numbers suggest a healthy and multifaceted gaming landscape in New Jersey. 

However, the popular sweepstakes casinos aren’t part of the picture. The state’s regulators have passed Bill A5447/S4282, banning the dual-currency model.

Although NJ’s online casinos are reaping the financial rewards, they’re also facing a few challenges. Regulatory risks and higher player acquisition cost risks are crucial factors as competition increases.

Also, NJ’s online casinos are looking at a higher tax rate (at around 19.75%), which can impact the bottom line.

REFERENCES

• New Jersey's A5447/S4282
• New Jersey Division of Gaming Enforcement