New Jersey Sports Betting Handle Decreases From Last Year

New Jersey’s sports betting industry recently experienced a notable decline in total wagers placed in February 2025, with the handle dropping below $1 billion for the first time since August 2024. This decline mimics a broader trend of seasonal fluctuations in betting. The Super Bowl saw thousands of New Jersey residents placing bets, and post-Super Bowl fatigue played a role in the drop in the handle.

However, despite the lower handle, sportsbooks in NJ still managed to generate strong revenues, especially online platforms.

Similar market trends can be observed in other states, like Florida, where sports betting continues to grow. With sports betting sites in Florida attracting more users from across the US, competition between operators remains strong. The best sports wagering sites compete with one another by offering competitive odds and bonuses.

Lower Handle In February 2025

New Jersey’s total sports betting handle for February totaled $989 million, a decrease compared to February 2024 when the handle totaled $1.08 billion. This decline is expected as there is usually a decrease in betting activity with the conclusion of the NFL season when bettors adjust their strategies and reassess their moves before major spring events like March Madness.

The seasonal nature of betting is well known and studied, with summer months typically producing lower handles due to fewer sporting events. So, although February saw a decline, it is expected that sports betting will rebound in March when college basketball occurs.

Operators Enjoy Increased Revenue

Despite a decline in total wagers placed, New Jersey sportsbooks reported increased revenue for February 2025. The industry reported gross revenue of $73.6 million, an 8.9% year-over-year increase compared to February 2024. This revenue was mainly due to a solid hold percentage of 7.4%, showing that sportsbooks retained a higher percentage of bets placed.

The revenue figures show the importance of operator strategies, like odd-setting and promotions. These ensure that the sportsbooks remain profitable even when there are lower betting volumes.

A high number of upsets in major sporting events also tend to benefit sportsbooks as they score more when the underdogs win.

Online Sportsbooks Account for Majority of Bets

New Jersey is one of only a handful of states that allow online gambling and sports betting. The online betting market continues to dominate the industry, with online sportsbooks accounting for 96% of wagers placed in February 2025. A total of $949.6 million was placed through online and mobile betting platforms.

In contrast, retail and physical sportsbooks handled just $39.3 million in bets.

There is a clear preference for online betting platforms due to their convenience and better odds offered. FanDuel, DraftKings, and BetMGM dominate the online betting sector due to their variety of betting options and user-friendly interfaces.

Super Bowl Saw $168 Million in Bets

Super Bowl LIX was a major contributor to February’s betting activity, adding approximately $168 million to New Jersey’s total handle. This is 16.9% of all the wagers placed during the month.

Although the Super Bowl is known to result in high betting volumes, it is also the end of the football season, which results in a natural decline in bets in the following weeks. With the Philadelphia Eagles winning this year’s Super Bowl, betting in NJ was likely boosted given the team’s regional following and the Eagles coming from Pennsylvania, New Jersey’s neighbor. However, this boost was still not enough to match the over-$1 billion handle of previous years.

This content was produced in partnership with footitalia.com. If you or anyone you know has a gambling problem, call 1-800-GAMBLER.

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