New Jersey has long been a gambling hub, ever since online gambling within the borders was permitted in February 2013. However, today, the online gambling industry has grown by leaps and bounds…to the point that these days, the Garden State is often referred to as the gambling mecca of the country. New Jersey gambling sites continue to bring millions, breaking previously set records.
Case in point, New Jersey online casinos, and sports betting sites’ online gross revenues in September 2020 shot up by $10 million compared to August 2020. Add to this the might of New Jersey online sportsbooks, and September total revenues grew to just over $70 million, according to stats shared by the New Jersey Division of Gaming Enforcement.
Online casinos and sportsbooks have been instrumental for the continued growth despite having a pandemic on our hands. Thanks to the return of major sports, online sportsbooks and casinos will continue with this upward trend.
So far, online casinos and poker in New Jersey have now generated more than $2 billion since the industry took off in November 2013. This has translated to more than $302.3 million generated in state taxes, which just goes to show just how essential online casinos have become for the Garden State.
So if you have been thinking about online betting in New Jersey, here are a couple of things that you ought to know:
A regulated online gambling environment has benefited everyone
Having a regulated online gambling industry has been instrumental not just for the state, but for the punters themselves. Because the industry is now regulated and taxed, authorities have found a way to direct more funds to state coffers.
Bettors, on the other hand, benefits from a more regulated environment that breeds predictability and transparency. Punters no longer have to worry that they are taking chances with unlicensed operators and offshore bookmakers. In the Garden State, gambling is regulated by a body known as the Division of Gaming and Enforcements.
The body is in charge of:
· Issuing gambling licenses to operators that need them.
· Auditing all gambling activities occurring in the state.
· Making certain that operators comply with the regulations in place.
When individuals gamble in New Jersey, they are never concerned about things being above board since everything is regulated and fair. This probably helps to explain why New Jersey’s sports gambling market has grown so fast in a short period.
Who is allowed to play in the state?
Gambling is a favorite pastime for many in the Garden State. However, only individuals that are 21 and over are allowed to play. Punters have to be physically present within state lines in order to place a bet but registration. The good news is that anyone can bet in the state of New Jersey- they do not have to be residents.
All online casinos in New Jersey are embedded with geological software that’s designed to verify a player’s location whenever one wants to log in and wager. This means that you can only wager from a New Jersey sports gambling site once the software has confirmed that you are in the state. Learn more about the official authorized online casinos in New Jersey here: https://www.njgamblingfun.com/nj/online-casinos-new-jersey
New Jersey online betting will continue to grow
Experts continue to predict the continued growth of the New Jersey online gambling industry. While land-based casino revenues continue to dip, online gambling revenues in the state are flourishing despite a pandemic. According to statistics, online gambling has not closed a single month without revenues under the $20 million threshold.
Years after year, the online gambling market in the state continues to stun and impress, attaining accomplishment after accomplishment. The most remarkable feat thus far is that the industry has managed to see sustained growth over the 7 years that the industry has been regulated.
Online sports betting will push further growth
With the advent of online sports betting in New Jersey, the online gambling industry will continue expanding in the coming years. Sports betting was legalized in New Jersey back in 2018 and is one of the fastest-growing industries in the country today. Of course, since New Jersey was at the forefront of legalized sports betting, the state has quickly grown to set the blueprint and standards for other states to follow.
Much of the online gambling growth that has occurred today can be attributed to the online sports betting boon. Since operators are now able to easily mix casino games in with the mobile sportsbooks offerings, it has made it easier to reach more punters that may otherwise not have chosen to try online gambling. Unfortunately, however, things don’t seem to be going well for online poker, which continues to trail behind.
Live dealer games are still a hit
Live dealer games in the Garden State are perhaps one of the biggest innovations to online casinos. The first casino to offer live dealer games was the Golden Nugget online casino in August 2016. At the time of the launch, the Nugget offered one table each of Roulette, Baccarat, and Blackjack.
As you can expect, more and more casino operators have since added live dealer games to its portfolio of offerings. Bringing the enhanced experience and excitement that’s usually on the casino floor is an innovation that has paid off big time for the gambling industry in New Jersey. Live dealer games are as popular today as the day they were launched and they are a must-have for any casino that intends to thrive in this highly competitive market.
It’s hard to imagine a gambling industry in New Jersey without online gambling and legal sports betting. The extra cash generated from online gambling has been instrumental in helping to cushion the blow after months of losses incurred by the state’s casinos and 2 racetracks.
Although things are certainly looking up after the return of major sports it will take a while before the state rebounds from the closures. Luckily, online gambling has helped to keep most operators in the state afloat. Although online casinos certainly cannot sustain the industry forever, the future looks bright, which is good news for punters everywhere.