New Jersey iGaming Market Continues to Expand
Back in 2013, New Jersey was one of the first US states to legalize online gambling. Since then, online gaming and sports betting in the Garden State have grown to record new highs. NJ now owns the largest iGaming market in the US, drawing in over $225 million per year in total revenues from the industry that becomes more sophisticated, embracing new technologies, and striking up deals with top celebrities and influencers. Meanwhile, New Jersey online casinos reviews remain positive in 2021, as the momentum gained in 2020 shows no signs of slowing down.
Looking Back on Last Year
2020 was a year like no other for the US iGaming industry. The popularity of the online casino, poker, and sports betting sites surged, leading to emerging markets like Pennsylvania experiencing record revenues and spurring on states like Michigan and New York to push for online gambling legislation.
It was an exceptional year for New Jersey too. From May through to September, revenues hovered at around $85 and $88 million per month. Then, from October 2020, revenues surged again. October pulled in $93.5 million, while November saw total iGaming revenues of $91.8 million, representing a year-on-year increase of 87% from November 2019.
Online casino games proved to be the most popular market with the Garden State residents, as remote gaming made an average of 82% more than the state’s sports betting market. Additionally, NJ tax revenues peaked at almost $14 million in November – 45% of the state’s total gaming tax revenue for the month.
Consequently, online real money gaming in New Jersey is now in the spotlight. Other states are looking to the Garden State as an example of the substantial revenue streams generated by tightly regulated online gambling. For example, New York’s Governor Cuomo is said to be inspired by what has been achieved in NJ in a relatively short period and is now pushing for the legalization of iGaming in New York state.
Developments in the iGaming App Market for 2021
The success of NJ’s online casinos and sports betting platforms are also helping make mobile gambling a reality in the US in 2021. Wynn Resorts and MGM Resorts International have launched sports betting apps in the Garden State – WynnBet and BetMGM, respectively – with considerable success. They are now rolling out these mobile betting apps to other states, including Pennsylvania, Virginia, and Tennessee.
Meanwhile, the regulatory movement of real money gaming in the US has been boosted by Google’s recent policy changes in its Play store. From March 1st, 2021, Google will officially allow mobile gambling apps to be available to 15 countries, including the US.
At present, mobile casino, poker, and sports betting apps are only available to download from the Play Store in the United Kingdom, Brazil, Ireland, and France. These apps include sports betting, casino, and poker games, fantasy sports, and lotteries.
While sports betting providers like Wynn have launched mobile betting apps in New Jersey, mobile casino and fantasy sports gaming apps have remained blocked. This policy change will enable NJ providers to launch casino apps and mobile poker games, ensuring that the iGaming industry continues to be one of the state’s most profitable entertainment segments.