New Jersey Online Gambling Market Continues to Grow
Get the full run-down of the New Jersey online gambling industry since it first opened in November 2013.
So in case you’ve been living under a rock for the past year, online gambling has officially become legal in the state of New Jersey. Despite the struggling casino industry in Atlantic City, it seems that online betting in New Jersey has already taken off. Within just six weeks after the market opened back in November 2013, the online gambling industry generated $8.6 million.
It’s now been almost a year since New Jersey welcomed intrastate online betting, and it seems the industry will continue to grow. This comes as a great relief within the New Jersey gambling industry considering four Atlantic City casinos will close their doors by the end of the year. While more and more bad news comes out of AC’s land based casino industry, online gambling has come out on top. The state’s regulated online gambling market earned over $10 million in July 2014 and revenue will likely increase as summer draws to a close.
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The Borgata/Bwin.party site takes the top spot among New Jersey gambling sites, earning just under $3.2 million with $2.1 million from casino revenue and $1.1 million from poker. Caesars Interactive New Jersey earned $2.7 million in July, taking in $1.7 million from casino and $1 million from poker. Meanwhile, the Tropicana/Gamesys casino-only site comes in third, earning just under $2 million in July.
Coming in behind are the Golden Nugget Casino which earned just under $925k, Trump Plaza/Betfair earning $676k from casino and $1 million from poker, and the Trump Taj Mahal/Ultimate Gaming duo which took in $587k, with $26k from the online casino.
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While online players can rejoice at the new addition of legal gambling sites, it seems sports handicappers will have to put aside their hopes of online sports betting in Jersey. This past June, the Supreme Court shut down the state’s attempt to authorize online sports betting. Although Governor Chris Christie signed a bill in 2012 to legalize sports betting, the Supreme Court officially rejected the state’s appeal claiming that the Governor had no legal authority to sign the bill in the first place.
The decision follows a four year battle to legalize intrastate sports betting in New Jersey. The Supreme Court claims that allowing New Jersey sports betting undermines the 1992 Professional and Amateur Sports Protection Act (PASPA) which limits online sports betting to four states: Nevada, Delaware, Montana, and Oregon.
Yet even with the Supreme Court’s rejection to legalize online sports betting, New Jersey still has the last laugh. More and more gamblers continue to place bets at online casinos creating a multi-million dollar online gambling industry for the state of New Jersey.
