Revenues From Online Gambling In New Jersey

New Jersey represents just how modern America really is and this is evident since gambling laws have evolved in favour of the state. In fact, the law banning online casinos from operating in NJ was lifted on the 23rd of February in 2013 and this was indeed a memorable day. Although New Jersey residents could access offshore online sportsbooks and online casinos, local operators would not be legally allowed to develop such platforms. Of course, in today’s age this seems archaic, however there are still a number of states to adopt this change. However, if you are here looking to find new online casinos, in New Jersey or otherwise, visit New Casinos Finder as they list quite a number of new sites weekly and monthly.

More States In The US Are Legalizing Online Gambling 

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Stats Heavy In Favour of Online Gambling

According to research statistics on online casinos, since the ban was lifted in 2013, the steady and gradual increase in revenue has proven to be effective and in favour of online gambling.

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Needless to say, operators have been profiting in thousands of dollars. Poker revenue has been recorded at a profit margin of over $50 000 and while the increase has been steady, there was a slight decline in May where the online gaming revenue declined by 1.8% which may not seem much but compared the previous month, the decline was somewhat unexpected.

The profit revenues are divided into 3 categories; online casino gaming, online sports betting and online poker. The biggest grossing category is general casino gaming wins at $36.54 million, while coming in hot at second is $13.75 for sportsbetting and last in grossing wins is poker at $1.9 million.

July saw more profits, bringing in just over $444, 810 while June brought in $371, 832 in the poker category, while May proved to be a good month in terms of revenue, grossing at $394, 272.

The second quarter of the year saw the increase which recovered from this slight dip and has ever since been increasing.

The Future of Online Gambling in America

The US has proven to be one of the most freethinking countries in the world and the lift of the ban on online gambling just proves this. As we notice more countries adopting the modern way of thinking and eliminating bans by allowing online casinos to operate freely in states, we can see the market expanding and bringing in more clients as well as revenue. With more revenue coming in, it’s easy to predict more online casinos being developed over the upcoming years.

The online casino industry is expanding and with the media focused on the good, it won’t be long before more business entrepreneurs begin looking into developing successful brands. We can already predict current successful operators expanding to new markets and spiking revenue increases. With this in mind, the future of online gambling in the US is looking promising and there are bound to be a number of more online casinos being developed in the near future.



About the Author

Ankur Shah
Ankur Shah is the founder of the Value Investing India Report, a leading independent, value oriented journal of the Indian financial markets. Ankur has more than eight years of equity research experience covering emerging markets, with a focus on India and South East Asia. He has worked as both a buy-side investment analyst for a global long/short equity hedge fund and a sell-side analyst for an emerging markets investment bank. Ankur is a graduate of Harvard Business School. You can learn more about his latest views on global markets at the Value Investing India Report. -- He can be emailed at AnkurShah47@gmail.com