In recent years, the online gambling industry in New Jersey has seen a significant surge in revenue, surpassing expectations and outpacing traditional brick-and-mortar casinos. According to the latest figures released by the New Jersey Division of Gaming Enforcement, internet gambling revenue in the state reached an all-time high of $93.2 million in the month of March, marking a substantial increase of 75% compared to the same period last year.
The exponential growth of online gambling revenue can be attributed to a number of factors, including the convenience and accessibility of mobile betting platforms, as well as the ongoing COVID-19 pandemic which has forced many gamblers to seek alternative ways to enjoy their favorite casino games from the safety and comfort of their own homes.
While the online gambling industry continues to thrive, the same cannot be said for in-person revenue at traditional casinos in Atlantic City. With pandemic restrictions still in place, many brick-and-mortar casinos have been operating at reduced capacity and struggling to attract customers. As a result, in-person gambling revenue in March fell by 13% year-over-year, reaching just $184.2 million.
The stark contrast between the soaring success of internet gambling and the stagnation of in-person revenue highlights the shifting landscape of the gambling industry in New Jersey. With more and more players turning to online platforms for their gaming needs, traditional casinos are facing an uphill battle to stay competitive and relevant in the digital age.
Despite the challenges facing in-person gambling, industry experts remain optimistic about the future of the New Jersey gambling market. As the state continues to adapt to the changing demands of consumers and explore new ways to regulate and monetize online gambling, the industry is poised for continued growth and success in the years to come.
