New Jersey’s online gambling industry continues to soar to new heights, with the latest figures showing another record-breaking month for internet gambling revenue. According to data released by the state’s Division of Gaming Enforcement, online gambling revenue reached an all-time high of $84.9 million in April, surpassing the previous record set in March.
This surge in online gambling revenue comes at a time when casinos and other in-person gambling establishments in the state are still struggling to recover from the impact of the COVID-19 pandemic. With capacity restrictions and other health and safety measures in place, in-person gambling revenue has been significantly lower compared to pre-pandemic levels.
The success of New Jersey’s online gambling industry can be attributed to a combination of factors, including the convenience and accessibility of online play, as well as the ongoing expansion of the state’s online gambling offerings. New Jersey currently has a thriving market for online casino games, poker, and sports betting, with a wide range of operators competing for the attention of players.
One of the key drivers of the recent surge in online gambling revenue has been the popularity of online sports betting. With major sports leagues returning to action and the ongoing growth of online sports betting platforms, New Jersey has seen a significant increase in wagers and revenue generated from sports betting.
The strong performance of New Jersey’s online gambling industry has also had a positive impact on the state’s overall gaming revenue. Despite the struggles faced by in-person gambling establishments, the total gaming revenue for the state reached $352.2 million in April, a 326% increase compared to the same period last year.
While the success of New Jersey’s online gambling industry is a positive development for the state’s economy, it also raises questions about the future of in-person gambling establishments. As more players turn to online platforms for their gambling needs, casinos and other brick-and-mortar establishments may need to adapt to changing consumer preferences in order to remain competitive.
Overall, the record-breaking month for New Jersey’s online gambling revenue highlights the continued growth and relevance of the state’s online gambling industry. With online gambling becoming an increasingly important source of revenue for the state, it is likely to remain a key driver of growth in the years to come.
