In the world of online gambling, New Jersey continues to reign supreme as it sets yet another record for internet gambling revenue. Despite the ongoing struggles of in-person casinos to draw in customers, the state’s online gambling industry is thriving like never before.
According to the latest figures released by the New Jersey Division of Gaming Enforcement, online gambling revenue in the state reached a staggering $113.7 million in the month of March. This marks a 104% increase from the same period last year, and a new record for the state’s online gambling market.
The surge in online gambling revenue comes as no surprise, given the ongoing COVID-19 pandemic and the resulting restrictions on in-person gatherings. With brick-and-mortar casinos operating at reduced capacity and facing numerous safety protocols, more and more gamblers are turning to online platforms to get their fix.
The popularity of online gambling in New Jersey is further evident by the fact that the state’s online casino revenue accounted for $97.7 million of the total, while online sports betting brought in $16 million. This represents a 92% increase in online casino revenue and a 136% increase in online sports betting revenue compared to March of last year.
The success of New Jersey’s online gambling industry is not only good news for the state’s coffers, but also for operators and players alike. Online gambling platforms have reported increased engagement and player retention, as well as a surge in new sign-ups from customers seeking a convenient and safe way to enjoy their favorite games.
One of the key drivers of the state’s online gambling success is its robust regulatory framework, which ensures that operators adhere to strict guidelines and provide a safe and secure gaming environment for players. New Jersey was one of the first states to legalize online gambling in 2013, and has since become a model for other states looking to regulate the industry.
Despite the record-breaking success of online gambling in New Jersey, in-person casinos continue to face challenges as they struggle to recover from the effects of the pandemic. With revenue down and attendance limited, many brick-and-mortar casinos are looking to expand their online offerings in order to stay competitive in an increasingly digital world.
As the state’s online gambling market continues to grow, industry experts predict that New Jersey will remain a leader in the industry for years to come. With a strong regulatory framework, a diverse range of games and betting options, and a loyal player base, the state’s online gambling industry is showing no signs of slowing down.
