To Little Surprise But More Amazement, New Jersey Revenues Are Through the Roof
Published April 25, 2019 by Lee R
If poker growth picks up, New Jersey could challenge Nevada for the sports betting capital of America title.
The state of New Jersey remains the poster child for online gaming success in America.
March Marches
Figures from March revenue growth only enhance the picture, with online casinos breaking more records.
Record Monthly Take
The March take topped $39 million, setting a new all time high by over five million for the state—clearly powered by the presence and growth of New Jersey sports betting and the cross-selling of casino games to sports bettors it enables.
Substantial Sequential Progress
The March revenue dwarfed what had been considered an amazing February take of $25.6 million, in an environment whose blend of online gambling and mobile sportsbook offerings is now reaching far wider markets online.
Room for Poker
The only vertical which has not yet made the change to iGaming appears to be poker, down
3.2% compared to last March.
Nevada In Sight
The online success in New Jersey is so dramatic that the state is already pushing Nevada for the sports betting crown, and if online poker does catch on in New Jersey to the level of Nevada, look out.
Some experts are already predicting that New Jersey's rapidly growing online market will soon surpass Nevada as the country's largest sports betting hub as well.
While Nevada's overall take was an easily dominant $458 million for February, New Jersey was barely short of Nevada in the sports bet vertical.
Q1 Take Breakdown
After one quarter, casino games were led by operators under the umbrellas of Golden Nugget Online Casino and Resorts Online Casino Gross, with Golden Nugget’s $14.22 take encompassing gross casino gaming revenues from Golden Nugget Online Casino and SugarHouse Online Casino, as well as online casino play from both FanDuel and Betfair Online Casino; while Resorts Casino’s $7.86 million gross casino games revenue was aggregated from DraftKings, Resorts Online Casino, PokerStars, and Mohegan Sun Online Casino casino offerings.
Outlook
With online gaming experiencing an overall increase of 53% year in the state from 2018, the impact of iGaming regulation is undeniable and sure to grow.
