New Jersey Online Gambling Expected to Triple in 2014

The Daily Record of New Jersey describes how that state’s new online gambling sector is expected to triple by year’s end.

As of Jan. 31, a total of 197,782 accounts had been created—a 27 percent jump since mid-January, according to the state Division of Gaming Enforcement. Monthly revenues from Internet gaming also leapt ahead, totaling $9.5 million in January, up 28 percent from $7.4 million last December.  Based on these numbers, the expectations of revenues tripling appear to be on target.

From the Daily Record:

Gamblers say they feel comfortable playing on regulated sites where they know they’ll get their money. And the buzz among politicians and analysts is that online gambling, if New Jersey plays its cards right, could attract billions in revenue and thousands of high-tech jobs to the state.

The state also levies a 15% tax on Internet gambling compared to 8% on brick-and-mortar casinos in Atlantic City.

New Jersey is also considering legislation that would allow gamblers from other states and nations where the activity is legal to join the Garden State player pool.

Read Lorraine Ash’s full article here

- Ace King, Gambling911.com