iGaming Performs Strongly In Garden State
New Jersey, USA is one of four American states that has legalised the provision of local online gambling services, albeit that this particular market was only recently liberated by a majority vote in Senate. Now, the state’s young online gambling market has demonstrated exceptional and consistent growth, which has continued well into the fourth quarter of 2017. New Jersey’s online gambling market revenues surged by a massive 20% from November 2016 to November this year, growing to an impressive total of $20.6 million across all main gaming divisions. This performance is particularly strong for a newly regulated market, hinting at a potentially bright future for the state’s growing gaming industry.
Revenues Nearing $250m For 2017
Including the aforementioned total, New Jersey’s online gambling operations have earned $224.8 million up to date. The state’s earnings from iGaming operations are growing closer to a landmark sum of $250 million for the year in review, which could well be an attainable goal for the region considering the jump in gambling activity that is often seen around the Christmas period. This is positive news indeed for the state, but iGaming is not the only gambling division that performed well in the New Jersey industry. Land-based casinos also generated notable earnings throughout 2017, with around $185.8 million generated in total; a year on year increase of 3.2%. Taking into account revenues from both online casinos and brick and mortar gambling venues, the New Jersey gambling industry earned $206.4 million for the year in total, representing a respectable 4.6% increase over the figures posted for November 2016.
Further Growth Expected In 2018
Considering this market’s steady growth, 2018 could be an even more successful year for the Garden State’s online gambling market. This will be particularly true if sports betting should be legalised in the state, and with a proposed bill currently being scrutinised by the local government, this may soon become a possibility for Jersey operators. It will also be interesting to see how New Jersey’s iGaming market performs as the festive season draws closer. As noted above, Christmas is a particularly busy time for online operators, and if the local market sees an increase in revenues and player participation this month, it will give operators a better idea of how to prepare for and capitalise on next year’s casino Christmas rush.