Four years down the line and the State of New Jersey is celebrating four years of its successful online gambling industry. Analysts say that four years of data show the rest of the states the incredible potential of legal online gambling, as online play has increased the revenues and customer bases of New Jersey’s land-based casino operators as well.
According to an analyst at one of the leading online gambling sites in the Garden State, the residents of New Jersey have benefitted from being able to safely gamble online at legal and regulated sites that protect financial information, offer fair games and promote responsible play.
Some of the statistics garnered from four years of legal New Jersey online gambling include:
- Online casino games have become the biggest attraction at these sites, generating 85% of the total revenues seen – a sum of $577.96 million.
- Online casinos in New Jersey have collected $682.6 million from November 26th, 2013 through to October 31st, 2017.
- The state enjoyed $119.3 million in tax revenuein the four years.
- Online poker brought in just over $100 million, which made up 15% of the grand revenue total in the four years.
This year has been a particularly remarkable one for New Jersey when it comes to year on year growth in gross revenue at online casinos. Gross revenue climbed 26% to a projected $248 million throughout this year (compared to $196.7 million in 2016, $148.9 million in 2015, $122.9 million in 2014 and $8.4 million in the two months of 2013).
These numbers show no sign of letting up, and it is predicted that they will continue to grow as the market matures and stabilizes. This year, online gambling accounted for 10% of the state’s total casino revenue.
The gaming analyst said that there are two reasons to believe that 2018 will be a bumper year for the state’s online gaming industry. The first is that online casinos are showing no sign of slowing down. The second is that online poker seems to be destined for growth in the state now that New Jersey entered into an interstate poker compact with Nevada and Delaware. He also said that the legalization of online gaming in Pennsylvania would also be a contributing factor to growth.
