New Jersey’s online gambling industry has hit a new milestone, with revenue soaring to a record-breaking $208 million in the month of September. This figure represents a significant increase from the previous month, further solidifying the state’s position as a leader in the burgeoning online gambling market.
According to data released by the New Jersey Division of Gaming Enforcement, online casinos generated a staggering $190 million in revenue, while online sports betting brought in an additional $18 million. These figures represent a 10% increase from August and a whopping 134% increase from September of last year.
Industry analysts credit this growth to a combination of factors, including the continued expansion of online gambling offerings, the proliferation of mobile betting apps, and the overall growth of the online gambling market nationwide. New Jersey’s early embrace of online gambling has also played a significant role, as the state was one of the first to legalize and regulate online gambling back in 2013.
“This record-breaking revenue is a testament to the strength and resilience of New Jersey’s online gambling industry,” said James Johnson, a gambling industry analyst. “The state has consistently led the way in terms of innovation and growth, and these latest figures are a clear indicator of the industry’s continued upward trajectory.”
The success of New Jersey’s online gambling industry has also had a positive impact on the state’s economy, with tax revenue from online gambling helping to bolster state coffers. In fact, the state collected over $30 million in tax revenue from online gambling in September alone, providing a much-needed funding boost in the face of economic challenges brought on by the COVID-19 pandemic.
Looking ahead, industry experts predict that New Jersey’s online gambling industry will continue to thrive, as more states move to legalize and regulate online gambling. With new players entering the market and existing operators expanding their offerings, the future looks bright for the Garden State’s online gambling industry.
In conclusion, New Jersey’s record-breaking online gambling revenue in September is a clear indication of the industry’s strength and potential for growth. As the state continues to pave the way for online gambling nationwide, it is poised to remain a dominant force in the increasingly competitive online gambling market.
