TRENTON, NJ — New Jersey’s online gambling industry has set a new record, with revenue reaching an unprecedented high in March, according to the latest figures released by the New Jersey Division of Gaming Enforcement. This surge highlights a continuing trend of growth in the sector and positions the state as a leading figure in the digital gaming space.
Online gambling platforms in New Jersey reported a combined total of $140 million in revenue for March, marking a significant 18% increase from the same period last year. This is the highest monthly revenue figure recorded since the state legalized online gambling in 2013. Experts attribute this growth to the increasing popularity of digital gaming platforms and the introduction of new gaming options which have attracted a broader audience.
“The robust performance of online casinos in March is a testament to the maturing market and the state’s forward-thinking approach to gambling regulation,” said Michael Caselli, a gaming analyst and editor of a well-known industry magazine. “New Jersey is setting a benchmark for other states contemplating the legalization and regulation of online gambling.”
The division’s report also indicated that sports betting played a substantial role in boosting overall gambling revenues. The March Madness NCAA basketball tournament particularly spurred betting activities, contributing to approximately $860 million in total sports wagers placed last month across all platforms.
Casinos and racetracks have benefitted significantly from this uptick. The Borgata Hotel Casino & Spa in Atlantic City, for example, reported the highest individual total revenue, amounting to nearly $32 million from both online and in-person gambling activities. This represents a 10% increase compared to March of the previous year.
“This is more than just a recovery from the pandemic losses,” noted Rebecca G. Walker, the Executive Director of the New Jersey Gaming Association. “It’s a flourishing expansion that’s setting new records and significantly contributing to the state’s economy.”
The success in New Jersey is providing a clear model of how online gambling can be effectively managed and monetized, encouraging other states to follow suit. Legislative moves are already being observed in states like New York and Pennsylvania, where lawmakers are considering similar frameworks to capitalize on this lucrative market.
“The success seen in New Jersey is no fluke. It is the result of strategic planning and advanced regulatory frameworks that ensure fairness, security, and transparency,” added Caselli. “As other states look towards legalization, they are likely to take cues from New Jersey’s playbook.”
However, the surge in gambling activity also raises concerns about problem gambling. New Jersey has established several responsible gambling initiatives, and part of the revenue from online gambling is allocated to support these programs. Counseling services, public awareness campaigns about the risks of gambling, and tools allowing individuals to set limits on their gambling activities are among the measures being implemented.
As online gambling continues to expand, maintaining a balance between revenue growth and responsible gambling practices remains a priority for state regulators and industry stakeholders. The New Jersey model not only demonstrates the financial benefits of regulated online gambling but also underscores the importance of robust oversight and consumer protection mechanisms.
The continued growth in this sector is expected to have significant economic implications for the state, potentially leading to more jobs and increased tax revenues. As other states watch New Jersey’s progress, the coming years may see a broader shift towards the legalization and regulation of online gambling across the United States.