New Jersey Online Gambling Sector Reports End of Year Growth
Las Vegas may regularly pip New Jersey as the capital of land-based gambling in the USA, but when it comes to online betting, the Garden State rules the roost. New Jersey wasn’t just one of the first US states to legalize online casino gambling. It is also the largest market for software providers. New Jersey supports the most legal US online casinos of any US state. To emphasize this position, the state reported growth throughout the final month of 2021.
How Is New Jersey Online Gambling Faring?
New Jersey recorded a record income for online casino gambling in 2021, and December saw the highest surge in revenue yet. Throughout the year, the Garden State managed to receive $1.3 billion in revenue from online casino gambling alone. This is an immense 43% rise over 2020’s totals. As a result, over $239.2 million was raised in taxes for the state, further emphasizing why the governor was right to regulate and legalise gambling in the state.
What About Poker?
Poker has also been a growing online gambling sector in New Jersey. The poker sector took over $133 million in revenue in December, which is petite compared to casino gambling. However, the tally did compare favorably with the previous record of October 2021 of $127 million. In all, annual poker revenue in New Jersey hit heights of $1.4 billion, a forty percent increase on the previous year. Partypoker was one of the top New Jersey income makers.
And Sports Betting?
Of all the gambling options available to bettors in New Jersey, it is sports betting that tends to prove the most financially rewarded. Last month alone, the state took in a mouth-watering $1.23 billion in revenue. Despite this mammoth haul, it fell short of the record set in October. Of the immense revenue made in the sports betting sector, over $1.1 billion of that came from online sportsbooks – over a 90% share in all.
New Jersey Online Gambling Continues to Shine
It is obvious to all that New Jersey’s online gambling industry continues to perform strongly. In some areas, it now outranks its land-based counterparts. This is even more impressive given that 2021 did not suffer from the same level of brick-and-mortar closures that 2020 did when pandemic lock downs were at their height. Analysts predict further growth in 2022. Not just for the New Jersey market but for the US online gambling sector. As additional states follow suit and start regulating and licensing online casinos alongside sports betting options.
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