Study: Atlantic City Online Gambling Worth $462M

Atlantic City casinos will generate hundreds of millions of dollars once online gambling comes into full effect in New Jersey, according to the latest report from research firm GamblingData.

Online gambling boom

AC casinos will generate up to $262 million in gross gambling revenues during the first full year of online gambling operations in New Jersey, with that figure set to rise to an incredible $462 million annually by the fourth year of regulation, according to the fresh report from GamblingData.

Once full regulation is implemented, 50-60% of casinos' gross gambling revenues will come from online casino and online poker games, the report estimated. It forecast that online casino revenues would grow strongly over the next four year, while poker will rise rapidly in the next two years before remaining steady thereafter.

New Jersey says Yes

In February, New Jersey Governor Chris Christie signed a bill which sets up a 10-year trial period for online betting. During that time, the state will issue online gambling licenses, and taxes on online revenues will rise to 15 percent from the mark of 10% currently imposed on land-based casinos.

Gamblers will be permitted to set up accounts within the state. However, as is the case with rulings in Nevada and Delaware, the two other states to recently legalize online gambling, the move could lead to huge revenues being earned from interstate gaming.