New Jersey Online Casinos Setting New Records

new jersey online casinos setting new records nj gambling growth

Gambling laws in the state of New Jersey are the least restrictive in the USA which gives online casino gamers loads of different opportunities to engage in online casino gaming activities. The entire industry is regulated and overseen by the New Jersey Division of Gaming Enforcement. The main law enforcement agency for the iGaming industry is responsible for investigating and issuing reports, as well as granting licenses, checking the qualifications of corporate and individual applicants, and testing slot machines and other online gaming platforms. 

When it comes to the legality of online casinos in the Garden State, online gambling activities were legalized within the state’s borders back in February 2013 and the industry has been thriving ever since. Those who are over twenty-one years of age and physically present in the state can engage in online gambling activities at many online casinos. 

Those looking for a renowned, reputable NJ online casino will not have a hard time finding one as all of the major casino brands offer online casino gaming activities to New Jersey residents. Looking into the numbers, iGaming contributes astronomically to the state’s economy even during these tough times as the world battles the invisible enemy. 

The Garden State Setting iGaming Revenue Records In March 

As mentioned in the previous section, the iGaming industry contributes considerably to the state’s economy and this is one of the major reasons why other states open to these opportunities. In the five years between 2013 and 2018, the iGaming sector generated over USD259 million in taxes to local and state governments. In the same period, the iGaming industry created over six thousand new jobs and generated over USD 2 billion in sales. 

During these extremely difficult economic times not only for the Garden State but every other state and country in the world, the online casino gaming industry has victoriously come to the rescue. While land-based casinos are ultimately flagging, the New Jersey iGaming industry has set revenue records back in March

According to the official reports by the Division of Gaming Enforcement, iGaming operators in the state generated over USD 113 million from punters. This is the most gross gaming revenue generated in a month and just the second time that online operators crossed that USD 100 million mark. 

• Gross gaming revenues totaled USD 359 million in March 
• A massive increase of 119% when compared to the same period last year 
• A massive increase of 360% in sports betting revenues 
• An increase of 75% in online gaming win 

When compared to the same period last year when the coronavirus pandemic started to wreak havoc, this March in New Jersey, online gaming wins were up over 75%. The state’s gross gaming revenues this March reached over USD 359 million and this is a massive increase of 119% when compared to the same period last year, with NJ punters seemingly ignoring sound financial planning. Sports betting gross gaming revenues also showed an astronomical increase of 360% after sports betting sites reported winnings of over USD 60 million. 

Gross Gaming Revenues By Operators 

New Jersey iGaming operators generated impressive gross gaming revenues of over USD 113 million in March this year and this is a great increase when compared to USD 64 million and USD 93 million in gross gaming revenues for February and March last year. The ultimate winner is the Borgata online casino with over USD 36 million in gross gaming revenues followed by Caesars with USD 9 million, Golden Nugget with USD 31 million, Hard Rock with USD 6 million, Ocean Resorts with USD 1 million, and Tropicana with USD 7 million.

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