iGaming Revenue: New Jersey Online Casinos Hit All-Time Record

⏱ 3 min read

New Jersey's online casino market posted its highest monthly total ever in May 2026, with the state's Division of Gaming Enforcement (DGE) confirming $276.3 million in internet gaming revenue — an 11.9% year-over-year increase from the $246.8 million recorded in May 2025. The figure eclipses the previous all-time record of $273.2 million set in December 2025, and marks the eighth consecutive month that New Jersey iGaming revenue exceeded $250 million.

The record came during a month when the state's nine brick-and-mortar Atlantic City casino hotels were essentially flat, generating $265.6 million — up just 0.1% year-over-year. Online casino win outpaced the entire Atlantic City casino floor by more than $10 million in a single month, a structural shift that would have been unthinkable when New Jersey first launched regulated iGaming back in 2013. Sports wagering moved in the opposite direction, falling 16.9% year-over-year to $85.2 million, dragged down by a low-hold month and growing competition from prediction markets.

---

The May 2026 Record: What the Numbers Say

The DGE's official press release, published June 16, 2026, put total gaming revenue — covering casinos, racetracks, and partners — at $627.1 million for May, a 2.0% increase over the prior year. Year-to-date through five months, total gaming revenue stands at $2.93 billion, up 7.2% from $2.74 billion over the same period in 2025.

Online casino win has now exceeded $250 million in four of the first five months of 2026. The five-month cumulative total of $1.32 billion is already $166 million ahead of the same pace in 2025. The state collected $61.4 million in iGaming taxes in May alone, and $293.7 million year-to-date — money flowing directly into state coffers from a product that requires no physical infrastructure expansion.

---

Operator Leaderboard: FanDuel Widens Its Lead

FanDuel Casino, operating under the Golden Nugget license, led all operators with $64 million in May revenue — more than $17 million ahead of its nearest rival. Through five months, FanDuel has cleared $302.5 million, the only brand above the $300 million mark year-to-date. DraftKings sits second at $231 million YTD, followed by BetMGM at $166.7 million. Together the top three account for more than half of the state's total iGaming win.

Several operators are growing substantially faster than the market average. Fanatics Casino posted $13.5 million in May — up 115.7% year-over-year — with $66.2 million year-to-date, a 145.6% jump from 2025. BetRivers grew 54.3% to $12.4 million, and Hard Rock Bet rose 39.7% to $18.3 million.

Operator	May 2026 Revenue	YoY Change	YTD (Jan–May 2026)
FanDuel Casino	$64.0M	—	$302.5M
DraftKings Casino	$47.0M	—	$231.0M
BetMGM Casino	$34.6M	—	$166.7M
Borgata Online	$22.4M	—	—
Hard Rock Bet	$18.3M	+39.7%	$89.7M
Caesars Palace Online	$19.0M	—	—
Fanatics Casino	$13.5M	+115.7%	$66.2M
BetRivers Casino	$12.4M	+54.3%	—

---

Sports Betting Drag and Prediction Market Pressure

While the iGaming vertical set records, the sportsbook side had a rough month. Gross sports wagering revenue dropped to $85.2 million, a 16.9% decline from $102.5 million in May 2025. Online sportsbooks generated $83.7 million, down 14.6%, while retail sportsbook lounges posted just $1.5 million — a 67.3% collapse. Year-to-date sports wagering sits at $455.7 million, fractionally below the $460.2 million at the same point in 2025.

Analysts point to two compounding factors: May delivered an unusually low hold percentage across the industry, meaning sportsbooks paid out heavily on results; and prediction markets such as Kalshi and Polymarket are capturing a growing share of event-based wagering volume that would previously have flowed to licensed sportsbooks. New Jersey lawmakers are already considering a bill that would bring prediction markets under state licensing and tax oversight, a fight that will shape sportsbook economics across the country.

---

A Structural Shift: Online Beats the Floor

For the month of May, New Jersey online casino win exceeded Atlantic City brick-and-mortar casino win by more than $10 million. This isn't a fluke. The state's iGaming segment has been closing in on the physical floor for several years, and the gap is now consistently in digital's favour during off-peak tourist months. The pattern mirrors what happened in Pennsylvania and New Jersey in 2025, when annual iGaming revenue overtook land-based casino revenue for the first time in both states' histories.

• Atlantic City casino win (May 2026): $265.6M — up just 0.1% YoY
• NJ iGaming win (May 2026): $276.3M — up 11.9% YoY
• iGaming tax rate: 19.75% (GGR basis, current fiscal year)
• iGaming taxes collected (May): $61.4M vs. $44M in May 2025
• YTD iGaming taxes: $293.7M through May 2026

---

What It Means for Other States

The May 2026 data from the DGE arrives at a critical moment in the national iGaming expansion debate. At least a dozen states — including Illinois, New York, Virginia, and Massachusetts — are actively considering online casino legislation. Maine, which signed an iGaming authorization bill in early 2026, is expected to launch regulated online casinos by late 2026 or 2027, becoming the eighth legal iGaming state. Virginia's dual bills stalled in the 2026 session, pushing any potential launch to 2028 at the earliest under a mandatory two-session passage requirement.

The New Jersey numbers give iGaming advocates a powerful fiscal argument: a mature, well-regulated online casino market produces nearly $300 million in annual iGaming taxes — revenue unavailable in states where players currently bet on offshore or unlicensed platforms. The American Gaming Association estimated in 2025 that illegal online casinos and offshore sportsbooks generate roughly $53.9 billion annually, depriving states of more than $15 billion in uncollected tax revenue. New Jersey's record month puts a sharp number on what legal regulation can capture.

---

Sources

Primary regulatory data verified against the NJ DGE official press release and cross-checked with operator-level reporting from three independent outlets.

Internet Gaming Win for the casinos and their partners was $276.3 million for May 2026, reflecting growth of 11.9% when compared to $246.8 million reported for May 2025.

— New Jersey Division of Gaming Enforcement, Official Revenue Press Release · June 16, 2026