When New Jersey lawmakers announced their intention of legalizing online gambling statewide, there were many who oppose the decision. It took a while for the needed laws to be created and then pass through the state Senate, but today the Garden State allows its residents to legally enjoy the games. Numbers speak far louder than words, so whenever the state makes the tax revenues from online gambling available, people from all over the US pay attention.
2019 was a great year for online gambling in New Jersey
The year is yet to conclude, but the numbers posted by the New Jersey Division of Gaming Enforcement are encouraging to say the least. It looks like the online gambling operators that legally provide state residents with gaming services have thrived since last September. The numbers indicate a clear increase in the profits they made, which has also led to a surge in the tax revenue. For the authorities, this is one of the most important things, as it confirms the fact that the legalizing of online gambling pays off.
The poker industry is still struggling in New Jersey and the online poker market is far from meeting the high expectations. The silver lining is that the profits made this September are slightly higher than the similar numbers posted last year. Overall, the revenue generated by online poker is lacking but the sports and online casino profits are more than enough to offset these poor numbers. Since online casino games were legalized, the number of people enjoying the games has greatly increased. The revenue for 2019 surged by 57%, to nearly $323 million, which represents in excess of 95% of the NJ online gambling.
Online gambling doesn’t hurt land-based casinos
There were significant concerns regarding the impact of the burgeoning online gambling industry on the brick-and-mortar casinos in New Jersey. Atlantic City operators are obviously struggling, but this has to do more with the lack of interest for traditional gambling. The online casino sites USA industry is attracting more of the new players, but there are no reasons to believe that these punters would otherwise stick to land-based casinos. In fact, many of these traditional operators have opened their own online casino divisions and they are making a lot of money by promoting their games to the Internet audience.
The New Jersey online gambling industry is at the time of writing in the spotlight, because of these above expectations numbers. Meanwhile, in the small state of Delaware, Internet casinos are also generating more revenue than they did one year ago. Even though the numbers pale in comparison to those posted by New Jersey, this is simply the result of Delaware being a tiny state with a smaller population. The success of these two states, as well as the positive numbers revealed by Pennsylvania, are likely to encourage other US states to legalize online gambling.
Title: New Jersey post record tax revenues from online gambling in 2019
Posted On: 30/10/2019
Author: The Casino Sites