In recent years, New Jersey has seen a staggering rise in online gambling, with revenues reaching new heights and outpacing traditional brick-and-mortar casinos in Atlantic City. While the iconic seaside destination has been struggling to stay afloat, internet gambling platforms have been flourishing, attracting a new generation of gamblers and reshaping the landscape of the gambling industry in the Garden State.
According to the latest figures, online gambling revenue in New Jersey hit an all-time high of $931.5 million in 2020, a 101% increase from the previous year. This surge in popularity can be attributed to a combination of factors, including the convenience of playing from the comfort of one’s own home, the proliferation of mobile devices, and the wide variety of games and betting options available on digital platforms.
In contrast, Atlantic City casinos have been facing increasingly tough competition from their online counterparts. The COVID-19 pandemic dealt a severe blow to the city’s gambling industry, forcing casinos to shut down for months and limiting their capacity once they were allowed to reopen. As a result, many casinos have been struggling to attract customers and generate revenue, leading some to consider shutting down or filing for bankruptcy.
The disparity between the success of online gambling and the struggles of Atlantic City casinos has prompted lawmakers and industry experts to reevaluate the state’s gambling regulations and explore ways to help the struggling brick-and-mortar casinos. Some have suggested reducing taxes and fees on casinos to help them compete with online platforms, while others have proposed expanding online gambling options to include sports betting and other popular games.
Despite the challenges facing Atlantic City, some officials remain optimistic about the future of the city’s gambling industry. They point to recent developments, such as the opening of new casinos and the introduction of innovative gambling technologies, as signs of potential growth and revitalization in the years to come.
In the meantime, online gambling continues to thrive in New Jersey, attracting a diverse range of players and generating significant revenue for the state. With the industry showing no signs of slowing down, it seems that the internet gambling boom in the Garden State is here to stay, reshaping the way people gamble and changing the dynamics of the gambling industry for years to come.
