New Jersey’s online gambling industry continues to soar to new heights, with the state setting yet another record for internet gambling revenue in the month of October. According to data released by the New Jersey Division of Gaming Enforcement, online gambling revenue reached an all-time high of $109.4 million in October, surpassing the previous record of $87.8 million set in September.
This latest milestone comes at a time when in-person gambling revenue in the state is struggling to rebound to pre-pandemic levels. The ongoing COVID-19 pandemic has had a profound impact on the traditional brick-and-mortar casino industry, with many casinos forced to operate at limited capacity and implement strict health and safety protocols to prevent the spread of the virus. As a result, in-person gambling revenue in New Jersey has been significantly lower compared to previous years.
On the other hand, online gambling has seen a surge in popularity as more people turn to virtual gaming platforms to satisfy their gambling cravings in the midst of the pandemic. With the convenience of being able to gamble from the comfort of their own homes, online casinos have experienced a tremendous increase in traffic and revenue, leading to record-breaking numbers month after month.
The success of New Jersey’s online gambling industry can be attributed to a number of factors, including the state’s early adoption of online gambling legislation, a wide variety of games and betting options available to players, and the ease of access to online gambling platforms through mobile devices and computers.
Industry analysts predict that the trend of online gambling growth is likely to continue in the coming months, especially as the holiday season approaches and more people seek entertainment options from the safety of their homes. However, some experts caution that the rapid growth of online gambling could pose challenges for traditional casinos in the long term, as more players shift their gambling habits to the digital realm.
Despite the challenges facing in-person gambling venues, industry stakeholders are optimistic about the future of New Jersey’s gambling industry as a whole. With a strong online gambling market and ongoing efforts to revitalize the in-person gambling sector, New Jersey is poised to remain a leading destination for gamblers both online and offline.
