New Jersey’s iGaming and sports betting generated $6.3 billion in revenue in 2024, with over 55% coming from online platforms.

According to the New Jersey Division of Gaming Enforcement, 2024 was the most successful yet for the gaming industry in the Garden State’s history, with total gaming revenue soaring to nearly $6.3 billion and over 55% of that revenue coming from iGaming and sports betting. 

Moreover, given New Jersey’s rules requiring online casino platforms to partner with land-based Atlantic City casinos to operate legally in the state, the growth and success of iGaming and sports betting have quite literally saved Atlantic City by more than offsetting any revenue struggles at the state’s brick-and-mortar casinos.

Earlier this year, Gov. Phil Murphy’s proposed FY2026 state budget called for nearly doubling the tax rate on iGaming and sports betting, putting thousands of jobs at risk, raising taxes on millions of hardworking residents, and threatening to kill the golden goose that helps to subsidize the state’s social safety net for the most vulnerable.

The governor’s proposal would raise the tax rate on sports betting and iGaming from 13% and 15%, respectively, to 25% for each as part of a larger $1 billion tax hike plan that would also increase taxes on recreational pursuits like baseball batting cages; basketball courts; billiard parlors; bowling alleys; bungee jumping; fishing piers; go-cart rides/speedways; golf courses and driving ranges.