New Jersey Online Gambling Revenue Falls Slightly in AugustPublished September 30, 2016 by Mike P
New Jersey’s online gambling revenue is higher in 2016 than 2015, but the market saw a slight dip between July and August.
New Jersey (NJ) is one of only three US states where online gambling markets are fully regulated, but recent statistics have revealed that this status is not a guarantee of consistent success. Looking back on August 2016, it emerged that NJ’s online gambling revenue reached $16.1 million for the month, which represented a 31.6% increase on August 2015.
However, NJ’s Division of Gaming Enforcement (DGE) figures showed that August’s revenue was actually down on the $17.4 million recorded in July. So, while the state is posting double-digit revenue figures, there is a challenge in consistently raising the bar.
Stronger Numbers in 2016
When delving deeper into the numbers, it transpired that online casinos have generated the most revenue, rising by 35.8% to reach $13.9 million between August 2015 and August 2016. Meanwhile, there was promise shown in the online poker category, which managed to avoid a summer dip by increasing 9.6% in August to $2.17 million.
In analysing the year-to-date performance, online gambling revenue is doing much better in 2016, having already totalled $128.2 million, which is 32.6% higher when compared to the same period in 2015. During that time, online casinos have risen 37% to $110.3 million, while poker has climbed 10.7% to $17.9 million.
August Casino Win Value Falls
One of the more interesting findings came from the casino win statistics, when it transpired that August 2016’s online win value of $245.9 million had actually fallen by 4.9% when compared to August 2015.
Ultimately, this goes against the trend of 2016 being a year where online gambling win has increased thus far versus the first eight months of 2015. From January to August 2016, online gambling win was recorded at $128.3 million, which is up an incredible 32.6% on 2015. Moving forward, OCR will report any updated NJ numbers as they become available.