Online gambling has been on the rise in New Jersey, with key trends and statistics showing significant growth in recent years. According to the New Jersey Division of Gaming Enforcement, online gambling revenue reached an all-time high of $931.5 million in 2020, representing a 101% increase from the previous year.
One of the key trends driving the growth of online gambling in New Jersey is the increasing popularity of online sports betting. Sports betting revenue accounted for more than half of the total online gambling revenue in 2020, reaching $471 million. This surge in sports betting can be attributed to the legalization of sports betting in New Jersey in 2018, as well as the rise of online sportsbooks offering a wide range of betting options on various sports events.
Another trend fueling the growth of online gambling in New Jersey is the expansion of online casino gaming. Online casino revenue in the state reached $460.7 million in 2020, representing a 92% increase from the previous year. This growth can be attributed to the convenience and accessibility of online casino games, as well as the wide range of games available on online casino platforms.
In addition to online sports betting and casino gaming, online poker has also seen a resurgence in New Jersey. Online poker revenue reached $13.8 million in 2020, marking a 59% increase from the previous year. This increase in online poker revenue can be attributed to the implementation of shared liquidity agreements with other states, allowing players in New Jersey to compete against players from other states, thus increasing the size of the player pool and the potential for larger prizes.
Overall, the growth of online gambling in New Jersey has been fueled by the convenience and accessibility of online gambling platforms, as well as the wide range of betting options and games available to players. With the continued expansion of online gambling in the state, it is likely that online gambling revenue will continue to rise in the coming years, solidifying New Jersey’s position as a leading destination for online gambling in the United States.
