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In April, the online gambling sector in the state of New Jersey showcased its resilience and growth, with total gambling revenue surging by 10.4% year-on-year to $510.9 million. This impressive increase was driven by robust performance in both the online gaming (iGaming) and sports betting segments, which more than offset a decline in the land-based casino market. While total revenue fell slightly short of the record-breaking $526.6 million reported in March, the April figures underscored the continued strength and momentum of New Jersey’s online gambling sector.
New Jersey allows residents and visitors alike to wager in-person at casinos, and at online casinos and sportsbooks. Crypto betting is still a legal gray area in the state, which has many locals visiting these sites to place wagers using digital currencies like Bitcoin and Solana. In fact, Solana gambling is a top choice for many players thanks to the safety features of these sites and the fact that they offer incredible bonuses (source: solanacasino.ltd).
Even without crypto gambling options in the state, the gambling industry is booming. Most recently, the online casino market has been taking the lead, becoming a popular way to wager. Let’s explore New Jersey’s gambling industry, including land-based casinos, online platforms, and sports betting.
Land-Based Casino Performance
Despite remaining the primary source of gambling revenue in the Garden State, land-based casinos experienced a decline in revenue compared to the previous year. In April, land-based casino revenue totaled $216.8 million, representing a 6.3% decrease from the $231.5 million reported in the same period last year. The decline in land-based revenue was primarily driven by decreases in both physical slot machine revenue, which fell by 6.4% to $158.8 million, and land-based table games revenue, which dropped by 6.1% to $58.1 million.
iGaming Sector Growth
In stark contrast to the performance of land-based casinos, the iGaming sector continued to demonstrate strong growth and resilience. Revenue from all iGaming activities in April reached $187.9 million, marking an impressive 18.2% increase compared to the previous year. This remarkable growth trajectory highlights the growing popularity of online casino games, poker rooms, anonymous casinos, and other iGaming offerings among players in the state of New Jersey. Notably, iGaming revenue in April was only $28.9 million behind revenue generated by the long-established land-based casino segment, underscoring the significant impact of online gambling on the state’s overall gambling market. New Jersey first allowed online casino betting in 2013, and the industry has seen huge success since then.
Sports Betting Surge
The sports betting market in the state also experienced substantial growth in April, with revenue soaring by 46.9% year-on-year to $106.2 million. This impressive increase was further amplified by a staggering 74.1% jump compared to the revenue reported in March of the same year. The surge in sports betting revenue reflects the growing popularity of online sportsbooks and the resurgence of sporting events following disruptions caused by the COVID-19 pandemic. With online sports betting platforms offering a wide range of betting options and competitive odds, players in the state have embraced sports betting as a convenient and exciting form of entertainment.
New Jersey has a rich history of gambling. The online gambling sector in the state has emerged as a powerhouse within the United States, outpacing traditional land-based casinos in terms of revenue growth and innovation. Despite facing challenges posed by the pandemic and evolving consumer preferences, the online gambling industry in the state of New Jersey has thrived, driven by a combination of regulatory support, technological innovation, and shifting market dynamics. As the sector continues to evolve and expand, New Jersey remains at the forefront of the online gambling revolution, setting the standard for legal online betting and gaming nationwide. With ongoing investment, collaboration, and regulatory clarity, the future of New Jersey’s online gambling sector looks brighter than ever, promising continued growth and success in the years to come.
If you or anyone you know has a gambling problem, call 1-800-GAMBLER.