Last updated on November 26th, 2022 at 05:01 pm
Industry insiders expect the online casino market in New Jersey to end the year with a double-digit growth. However, the market is also showing signs of slowing down. Also, it faced fierce competition from nearby states.
According to PlayUSA’s annual online gambling development report, New Jersey’s mature gaming sector is among those reaching a cap. Also, it cited current revenue trends. It is evident with the number of betting software providers operating in the state.
Based on the industry group’s “lookahead line,” New Jersey will fall backward in 2023. However, the market might possibly witness moderate growth.
Online Casino Market in New Jersey
Bookie pay per head experts said New Jersey is one of four states that allow online casino gaming. The other states with online casinos are Connecticut and Michigan.
According to the most recent numbers from the New Jersey Division of Gaming Enforcement, the state’s retail casinos, sportsbooks, and internet gambling outlets recorded sales of more than $445 million in October. As per bookie pay per head reviews and news sites, it was a decrease of less than 1% from the same month a year ago.
According to the organization, online gambling raked in more than $147 million last month, an almost 16 percent increase from the previous year.
Sports betting and/or online casino games are currently legal in more than two dozen U.S. jurisdictions, including the nation’s capital.
