New Jersey Online Gambling Revenue Soars as Land-Based Plummets

New Jersey Online Gambling Revenue Soars as Land-Based Plummets

The state of New Jersey had a busy 2017. In a year that saw many turn-arounds, its legislation proclaimed its openness for players from abroad and then announced the figures revealing what was a very successful year all-round for the East Coast state.

Based on all that, many experts are predicting another lucrative year for New Jersey when it comes to harvesting the fruit of gambling revenue. The first signs, however, indicate that not all will go as smoothly with one particular sector seeming to be saving the day early on.

State officials from the New Jersey Division of Gaming Enforcement have reported a rise in online gambling revenue for the month of January (compared to the first month of 2017), totaling a 16.7% increase. The bad news is that land-based gambling revenue has nosedived significantly – 12.6% less than last year.

Speaking in money terms, online gambling revenue in January 2018 was $22 million, compared to $18.8 million last year. 2017’s land-based casino gambling reaped $185.9 million – significantly more than this January’s $162.4 million.

Looking at it more granularly, slot winnings have sunk by 11.4% to $109.6 million, as have table game wins – 15.1% less this year, totaling $52.8 million.

In total, gaming win in January is 9.9% down from the same period last year. The total amount of wins in first month of this year was $184.3 million.

While it’s clear that 2018 will be a struggling year for gambling in New Jersey, it remains to be seen whether the rest of the year will follow this pattern or will show signs of improvement.