New Jersey internet gambling revenue has hit another record high, continuing a trend that has seen online betting soar while in-person winnings struggle. According to data released by the New Jersey Division of Gaming Enforcement, online gambling revenue reached $113.7 million in August, surpassing the previous record of $110.2 million set in July.
The surge in online gambling revenue comes as brick-and-mortar casinos in New Jersey continue to face challenges, with in-person revenue down compared to pre-pandemic levels. In August, in-person winnings at Atlantic City casinos were $427.7 million, a 10% decrease from the same month in 2019.
While the pandemic has played a significant role in the shift towards online gambling, experts believe that other factors are also at play. The convenience of online betting, the availability of a wide range of games, and the ability to play from the comfort of home are all contributing to the success of internet gambling in New Jersey.
The growth of online gambling has been a boon for the state’s economy, with tax revenue from internet betting hitting $17.7 million in August. This represents a 48% increase from the same month in 2019 and underscores the significant role that online gambling is playing in the state’s economy.
Despite the success of internet gambling, some are concerned about the impact it may have on problem gambling. The ease of access to online betting and the lack of face-to-face interaction with a casino employee can make it more difficult for individuals to recognize problematic behavior and seek help.
In response to these concerns, New Jersey has implemented a number of measures to help mitigate the risks of online gambling addiction. These include self-exclusion programs, responsible gaming initiatives, and partnerships with organizations that provide support for individuals struggling with gambling addiction.
Overall, the record-breaking internet gambling revenue in New Jersey underscores the growing popularity of online betting and the potential for significant economic benefits. As the industry continues to evolve, it will be important for state regulators and policymakers to closely monitor the impact of online gambling on society and ensure that appropriate safeguards are in place to protect vulnerable individuals.
