New Jersey sportsbooks experienced unprecedented betting activity in June 2026, with total wagers reaching $917.2 million, up 16% from the same month last year. This represents the largest June handle in the state’s history. Despite the surge in betting volume, sportsbooks retained only $57.3 million, reflecting a hold rate of 6.24%, nearly half the 11.62% seen in June 2025. Consequently, the state’s tax intake slipped to $12.45 million, down from $13.1 million in June 2025, even with the 19.75% online gambling tax rate introduced in 2025.

Analysts attribute this unusual collapse in revenue to the FIFA World Cup, which began on June 11, 2026. The expanded 48-team tournament created an influx of betting action, with heavy wagers on favorites in group-stage matches. The results favored bettors, and sportsbooks paid out large volumes quickly.

Online Casinos Outperform Land-Based Properties

While sportsbooks struggled to maintain revenue, online casinos in New Jersey saw continued growth. Across 28 active online skins, gross gaming revenue reached $271 million in June, a 17.5% increase from $230.7 million the previous year. The state collected $60.4 million in taxes from internet gaming alone, nearly double the combined tax haul from land-based casinos and sports betting.

FanDuel Casino, operating through the Golden Nugget, generated $62.5 million in June, up 17.2% from June 2025. DraftKings Casino posted $47.1 million (+8%), with BetMGM rising 17.3% to $35.4 million. Other high-performing platforms included Hard Rock Bet at $18.7 million (+38.8%) and BetFanatics at $13.7 million, up an exceptional 276.9%.

In contrast, Atlantic City’s nine land-based casinos reported a slight decrease in revenue, with a combined win of $257.3 million, down 0.7% from June 2025. Borgata remained the top earner at $72.2 million, followed by Hard Rock at $46.2 million and Ocean at $43.5 million. According to New Jersey Division of Gaming Enforcement’s official report, table games revenue declined 6.4% overall, while slot revenue grew 1.7%.

Sportsbooks Struggle Despite Record Handle

Despite a record $917 million in total wagers, New Jersey sportsbooks retained a significantly smaller portion of those bets. The overall hold rate dropped to 6.24%, compared with the year-to-date average of 8.9%, largely due to high payouts on World Cup matches and NBA Finals action. Online betting accounted for $891.9 million of the total handle, while retail accounted for just $25.3 million.

The low hold illustrates the difference between betting volume and actual profits. With a higher number of casual and lapsed bettors entering the market for the World Cup, sportsbooks faced high-risk payouts that quickly depleted potential revenue. Analysts note, however, that this surge in active players could have long-term benefits for operators, as newly engaged bettors may remain active post-tournament.

Looking ahead, the tournament’s knockout rounds will likely present more balanced matchups, potentially allowing sportsbooks to recover hold percentages in July. Historically, these stages result in more upsets, breaking heavily favored parlays and increasing operator margins.