New Jersey’s online gaming industry continues to experience impressive growth, with the latest figures from the New Jersey Division of Gaming Enforcement showing record revenue for the month of August. According to a report by iGaming Business, the state’s online gambling market generated a total of $116.8 million in revenue during the month, marking a 36% increase from the same period last year.
The surge in revenue can be attributed to a number of factors, including the continued popularity of online casino games and sports betting in the state. New Jersey has long been considered a leader in the iGaming industry, with a robust regulatory framework that has attracted a number of major operators to the market. This, combined with the state’s large population and strong consumer demand for online gambling options, has helped drive significant growth in the sector.
One of the key drivers of growth in August was online casino revenue, which totaled $92.5 million for the month. This represents a 40% increase from the same period last year, as more players are turning to online casino games for entertainment and a chance to win big. Additionally, sports betting revenue also saw a healthy increase, reaching $24.3 million in August compared to $17.1 million in the same period last year.
The record revenue figures for August are a positive sign for the New Jersey iGaming market, which has seen consistent growth in recent years. With more operators entering the market and offering a wide range of online gaming options to players, the future looks bright for the state’s online gambling industry.
In addition to the strong revenue figures, the New Jersey iGaming market also saw an increase in the number of active accounts in August. According to the report, there were a total of 368,459 active accounts in the state during the month, up from 292,188 in August of last year. This indicates that more players are engaging with online gambling platforms in New Jersey, further driving growth in the market.
Overall, the record revenue figures for August highlight the ongoing success of the New Jersey iGaming market. With strong growth in both online casino games and sports betting, the state continues to solidify its position as a leading hub for online gambling in the US. As the market continues to expand and evolve, industry experts are optimistic about the future of iGaming in New Jersey and the potential for even more growth in the months and years ahead.