New Jersey reveals online gaming success on anniversary
New Jersey generated $682.6m (€581m) in online gaming revenue during the first four years of regulation in the US state.
Official figures from the New Jersey Division of Gaming Enforcement, which have been analysed by PlayNJ.com, show that online casino games are the main source of income in the state, generated $578m or 85%, of the total amount,
Online poker has collected $103.1m in the four-year period, while the state of New Jersey has been able to generate an additional $119.3m in tax as a result of legalised online gaming.
New Jersey legalised online gaming on November 26, 2013, and the figures apply to the period through to October 31 of this year.
Last week, New Jersey reported further year-on-year growth in its online gaming market, with revenue in October amounting to $20.6m, up 23.4% on the same month in 2016.
Reflecting on the latest figures, PlayNJ.com lead analyst Steve Ruddock, said: “Four years of data shows us the incredible potential of legal online gaming.
“Online play has increased the revenues and customer bases of New Jersey's land-based casino operators, and the residents of New Jersey have benefited from being able to safely gamble online at regulated sites that protect their financial information, offer fair games, and promote responsible play.”
Ruddock and PlayNJ.com also anticipate further growth for the market over the next 12 months: “There are two reasons to believe 2018 is going to be another growth year in New Jersey.
“First, online casinos are showing no signs of slowing down and second, online poker appears to destined for growth after New Jersey entered into an interstate agreement with Nevada and Delaware, in addition to the legalisation of online gaming in Pennsylvania, that could end a prolonged period of stagnation.”
Pennsylvania recently became the latest state in the US to legalise online gaming, following New Jersey, as well as Delaware and Nevada.