New Jersey’s gambling sector set several all-time records in 2024, reporting total revenues of $6.30 billion — a 9% increase from the previous record of $5.78 billion set in 2023.
December Totals
According to the NJDGE’s monthly release:
- Casino Win: Casino revenues for December 2024 were $231.8 million, reflecting a slight decrease of 0.3% compared to the same month in 2023.
- Internet Gaming Win: Internet gaming revenue saw significant growth in December 2024, reaching $228.0 million. This represents a 26.5% increase compared to December 2023.
- Sports Wagering Gross Revenue: Sports betting generated $62.8 million in revenue during December 2024, a sharp 42.6% drop compared to December 2023. This was primarily due to customer-friendly results across the month.
Internet Gaming Surges in 2024
The most significant growth was seen in the internet gaming (iGaming) sector, which reported revenues of $2.39 billion—a 24% rise compared to 2023. This surge puts iGaming just behind the land-based casino market, which reported $2.82 billion in revenues. Notably, in recent months, iGaming has surpassed physical casinos in monthly revenue from time to time.
Sports Betting Sets New Records
Sports wagering also experienced substantial growth, with revenues reaching $1.09 billion, an 8.7% increase from the previous year. The total amount wagered on sports hit an all-time high of $12.77 billion, reflecting a 6.7% uptick. This includes $12.27 billion in online bets and $499.2 million from retail locations.
| Period | Total Handle | Mobile Handle | Mobile Handle % | Sportsbook Revenue | Win % | State Taxes |
|---|---|---|---|---|---|---|
| Jan 2024 | $1,719,170,088 | $1,671,566,914 | 97.23% | $170,758,334 | 9.93% | $21,771,688 |
| Feb 2024 | $1,081,171,835 | $1,043,234,576 | 96.49% | $67,564,386 | 6.24% | $8,614,459 |
| Mar 2024 | $1,329,010,828 | $1,285,251,244 | 96.70% | $89,687,971 | 6.74% | $11,015,159 |
| Apr 2024 | $1,044,283,588 | $1,009,565,037 | 96.67% | $106,227,937 | 10.17% | $13,772,067 |
| May 2024 | $838,946,057 | $801,473,576 | 95.53% | $78,750,983 | 9.39% | $10,372,672 |
| Jun 2024 | $748,417,965 | $718,951,632 | 96.06% | $60,066,927 | 8.02% | $7,808,700 |
| Jul 2024 | $652,275,524 | $624,272,786 | 95.71% | $80,027,220 | 12.27% | $10,265,418 |
| Aug 2024 | $698,839,707 | $666,309,360 | 95.34% | $62,726,443 | 8.97% | $8,154,437 |
| Sep 2024 | $1,089,701,413 | $1,031,241,396 | 94.63% | $119,556,334 | 10.97% | $15,145,976 |
| Oct 2024 | $1,131,684,366 | $1,087,890,557 | 96.13% | $77,463,400 | 6.84% | $5,191,849 |
| Nov 2024 | $1,224,883,112 | $1,171,778,677 | 95.66% | $118,962,664 | 9.71% | $8,458,570 |
| Dec 2024 | $1,215,654,736 | $1,163,284,623 | 95.69% | $62,837,741 | 5.17% | $3,996,442 |
| Totals | $12,774,039,219 | $12,274,820,378 | 95.99% | $1,094,630,340 | 8.70% | $124,567,437 |
Land-Based Casinos Report Slight Decline
Despite the overall industry growth, New Jersey’s nine land-based casinos saw a slight decline in revenues, reporting $2.82 billion. This marks a 1.1% decrease from 2023. This was just over $400 million more than the revenue total for online casinos.
Key 2024 Months
- January 2024: The year commenced with total gaming revenues of $559.1 million, marking a 28% increase from January 2023. This surge was driven by a 19.9% growth in internet gaming and a 136.1% rise in sports wagering revenues.
- October 2024: Internet gaming revenues reached a record $213.6 million, surpassing the previous high set in September. However, in-person casino winnings declined by 8.5% compared to October 2023, highlighting the growing preference for online gambling.
- November 2024: The upward trend continued with internet gambling revenues exceeding $214 million, setting another monthly record. Total gaming revenue for the month was $556.9 million, a 15.4% increase from November 2023.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.