New Jersey Online Gambling Hits Record High - AgainPublished August 19, 2016 by Elana K
This July, New Jersey online gambling brought in a total of approximately $17.4 million, $1 million more than June’s revenue and 38.6% higher than the July revenue of 2015.
Last week, New Jersey’s Division of Gaming Enforcement (DGE) released the online gambling figures from July, which show a record high revenue despite gambling usually slowing down during the summer months. New Jersey online gambling brought in a total of approximately $17.4 million, $1 million more than June’s revenue and 38.6% higher than the July revenue of 2015.
New Jersey's overall figures paint a positive picture of online gambling, but online poker in particular is still struggling to hit its stride. While online poker didn’t show any decreases this month, it’s year-on-year growth was about 6.7% - as opposed to the growth of online casino games, which rose by a much more impressive 44.2%.
Live-Dealer Games Have Arrived in New Jersey
Borgata raked in the most revenue with just under $4 million, and the Golden Nugget came in second with $3.7 million. In the coming months, the Golden Nugget may have the chance to overtake Borgata, with the launch of its newest online gambling initiative going live just last week: live-dealer games. Live-dealer casino games have been growing more and more popular all over Europe, and this will be the first time they are offered in the United States in a regulated market. The Golden Nugget will be offering live baccarat, blackjack, and roulette.
Sports Betting Still A No Go
While online gambling in New Jersey is succeeding with flying colors, the state’s attempt to legalize sports betting has been forestalled again, this time with a 3rd U.S. Circuit Court of Appeals invalidating a law passed in 2014 that would have allowed sports betting at New Jersey casinos and racetracks.
Currently, only Nevada offers legal sports betting on individual games. But New Jersey governor Chris Christie is eager to see sports betting legalized, as it is estimated that hundreds of billions of dollars are bet illegally on sports in the U.S every year. If legalized, New Jersey's budget would reap the benefits.