New Jersey has emerged as a leader in the iGaming industry, with the Garden State’s online gambling Gross Gaming Revenue (GGR) surpassing expectations over the past few years. In fact, some experts are now predicting that iGaming GGR in New Jersey could eventually surpass that of Atlantic City’s brick-and-mortar casinos.
Since its legalization in 2013, online gambling in New Jersey has seen incredible growth, with revenues consistently hitting new highs each year. In 2019 alone, iGaming GGR reached nearly $482 million, a 61% increase from the previous year. And the trend shows no signs of slowing down, with revenues continuing to climb in 2020 despite the challenges posed by the COVID-19 pandemic.
Several factors have contributed to the success of New Jersey’s iGaming industry. The state has a large and diverse population, which provides a solid customer base for online casinos. In addition, New Jersey has established itself as a hub for online gambling, with a strong regulatory framework that ensures fair play and consumer protection.
Another key factor driving the growth of iGaming in New Jersey is the convenience and accessibility it offers to players. With online casinos, players can enjoy their favorite games from the comfort of their own homes, without the need to travel to a physical casino. This has proven especially valuable during the pandemic, when many brick-and-mortar casinos were forced to close their doors.
But perhaps the biggest factor contributing to the success of iGaming in New Jersey is the state’s willingness to adapt and innovate. New Jersey was one of the first states to legalize online gambling, and it has continued to expand and improve its offerings over the years. The introduction of live dealer games, sports betting, and mobile gaming apps have all helped to attract new players and drive revenues.
With iGaming GGR in New Jersey showing no signs of slowing down, some experts are now predicting that it could eventually surpass that of Atlantic City’s traditional casinos. While this may seem like a bold statement, the numbers speak for themselves. In 2020, iGaming GGR in New Jersey exceeded $969 million, while Atlantic City’s brick-and-mortar casinos saw revenues of just over $2.8 billion.
If this trend continues, it could have far-reaching implications for the future of the gambling industry in New Jersey. Online casinos may become the dominant force in the state’s gaming market, overtaking the historic casinos that have long been the face of Atlantic City. This could lead to a shift in focus and investment towards the online sector, as operators look to capitalize on the growing popularity of iGaming.
Overall, the success of iGaming in New Jersey is a testament to the state’s forward-thinking approach to regulation and innovation. As the industry continues to evolve, it will be fascinating to see how online casinos in New Jersey continue to grow and shape the future of the gambling landscape in the Garden State.
