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Online Gambling Revenues Continue to Increase in New Jersey

Online Gambling Revenues Continue to Increase in New Jersey

When it comes to online gambling in the US, nobody does it better than New Jersey. The state continues to dominate, earning more and more each month from online casino, poker and sports betting. August revenue reports are in and the state has broken records yet again. For the month, the online casino and poker sites brought in just over $41 million which is higher than the previous record set from the month before.

Amazing August

Every month, the state sees revenues over the $30 million mark. For August, the month marked the first time the state moved past the $40 million mark. Sport betting added even more to the total, at just over $19 million. The industry saw their second best month since launching.

According to the New Jersey Division of Gaming Enforcement, online casino gaming revenues came in at $39.4 million. This was a 5.3% increase from July and a whopping 71.4% increase from last August. For online poker, revenues came in at $1.7 million. Unfortunately, this as a significant drop from July and last year’s totals.

The majority of the online casino growth was due to the Golden Nugget, surprise, surprise! The brand continues to be the top operator in the state, setting new records on a regular basis. For August, the brand brought in $14,986,416 which was a whopping 38% of the total market.

The Resorts brand came in second again, with revenues of $7.45 million. The difference between first and second place is truly amazing. For years now, the Golden Nugget has remained untouchable, continuing to hit the tens of millions month after month and their closest competitors seemingly have no way to catch up.

The Golden Nugget has come up with the right plan in order to capture the majority of the market. Even without an online poker site, the brand continues to dominate the competition.

While Resorts took second place, the Borgata is not far behind. They were able to generate $7.13 million for August. It seems these two may start going back and forth as they try to catch up with the Golden Nugget.

Sports Betting Progress

Along with online casino and poker gaming, New Jersey also offers sports betting via the internet. Its amazing how much the state earns from iPoker and casino games alone but add in sports betting and the numbers are out of this world.

For sports betting overall in the state, $25.2 million was generated in August. The majority of that number, $19.2 million, came from online wagers. Players place far more wagers online due to the convenience factor. Many lawmakers use the popularity of online sports betting in the Garden State to try and advocate as to why their state needs to offer mobile as well. Online wagers in August contributed to 85% of the total bets placed.

Operators in New Jersey were able to see just over $293 million in wagers for the moth, which was a huge amount compared to the under $100 million placed in August 2018.

For now, New Jersey continues to be a hot spot for online gambling as a whole. Be it online poker, casino or sports betting, the state offer it all and continues to see massive success from the iGaming industry.

As records continue to be broken month after month, it will certainly be interesting to see how the state fares by the end of 2019, no doubt breaking more records as the year comes to an end.

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