NJ Legal Online Gambling Sets Annual Revenue Record

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October was an exciting month for New Jersey, as its legal gambling industry made history after surpassing $200 million in gross revenue for 2017, breaking the annual revenue record with just two months to spare. The state’s regulated online casinos generated $20.6 million in the month of October, and as of Oct. 31, New Jersey’s online casinos raked in a whopping $204.2 million in gross revenue, passing the previous record of $196.7 million that was set in 2016.

According to PRNewswire.com, in 2013, the industry has collected $682.6 million in revenue, with $119.4 million injected into state coffers, with $3.6 million generated in October.

Chart Of NJ Gambling Revenue

Image Source: PlayNJ.com

Lead analysts at New Jersey’s official online gambling website, PlayNJ.com, anticipate that the momentum within the online gambling trade will continue to build. PlayNJ.com analysts predict that because of the interstate compact between New Jersey, Nevada and Delaware, the online poker market in all three states will grow. Thanks to Pennsylvania, which recently became the fourth state to regulate and legalize online gambling, the market could double in size by 2018.

Online gambling and casino sites have been legal in the state of New Jersey since Feb. 26, 2013. After going through a five-day long online test in November of that same year, these sites officially launched on Nov. 26, 2013. Atlantic City online casinos are permitted to participate in online gambling in New Jersey.

For those wanting to try their hand at popular New Jersey online casino games such as video poker, slots, poker, blackjack, craps, roulette and other table games, you must be present within state borders, but you are not required to be a resident of the state. Visitors are welcome to play at New Jersey’s regulated online gambling sites. In addition, out-of-state depositing is allowed, but individuals cannot play until they step foot in the state.

As an added note, sports betting is not legal in the state of New Jersey. However, the state continues to push for the freedom to allow legal sports betting in Atlantic City and currently, the case is heading to the U.S. Supreme Court. The best option available in sports betting is wagering at an offshore sports betting site, as there are no NJ state laws in place that expressly prohibit sports betting online.

Source:  PRNewsWire

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