In a surprising turn of events, the world of internet gambling in New Jersey has set a new revenue record, surpassing all expectations. However, this success comes with a slight drawback as in-person betting has taken a dip in recent weeks.
According to data released by the New Jersey Division of Gaming Enforcement, the state’s online gambling revenue reached a staggering $105.6 million in October, a significant increase from the previous month’s $87.6 million. This marks the highest monthly total since online gambling was legalized in the state in 2013.
The surge in online gambling revenue can be attributed to several factors, including the ongoing COVID-19 pandemic which has forced many people to stay at home and seek entertainment options online. Additionally, the rise of mobile betting apps and the convenience they offer have also contributed to the increase in revenue.
On the other hand, in-person betting at New Jersey’s casinos and racetracks saw a slight decline in revenue, dropping from $36.5 million in September to $33.5 million in October. This decline can be attributed to the lingering effects of the pandemic, which has led to capacity restrictions and safety measures that have deterred some people from visiting physical gambling establishments.
Despite the slight dip in in-person betting revenue, New Jersey’s overall gambling industry remains strong and continues to outperform expectations. The state has quickly become a major player in the world of online gambling, with revenue from internet gambling surpassing that of Nevada, the longstanding gambling hub of the United States.
Industry experts predict that the trend of online gambling’s dominance will continue in the coming months, as more people embrace the convenience and accessibility of online betting. As a result, New Jersey’s gambling industry is expected to maintain its positive momentum and set new revenue records in the future.
It is clear that the landscape of gambling in New Jersey is evolving rapidly, with online gambling taking center stage as the preferred choice for many players. While in-person betting may have taken a slight hit, the overall success of New Jersey’s gambling industry is a testament to the state’s commitment to innovation and adaptability in the ever-changing world of gambling.