H2 Gambling Capital Predicts a $370 million from NJ Online Gaming

New Jersey is predicting that they will land upwards of $370 million from online gaming in the next year. The first legal online casinos in the North American state went online this week, amid much hype and success. So much success in fact, that many other gamers from outside of the site tried to hijack the party and get involved. Much to their disappointment however, they were denied access. After the launch of the new online casinos and hundreds (soon to be thousands) of new clients, the H2 Gambling Capital group has announced the results of a study into the industry, which began before the casinos went live.

H2 Gambling Capital expects that the online casinos alone should pull in a minimum total of $370 million worth of gross revenue in 2014. This should be music to the ears of land based casino bosses too, many of which have opened up online casinos in their own companies’ names. New Jersey is the largest of the three new states (the others being Nevada and Delaware) to approve online gaming, and the only one to do so from a purely financial perspective.

The preliminary figures reveal that by 2018 alone, provided that online gaming doesn’t become federal law, and that few other states in surrounding regions open their own online casinos and land-based casinos, that New Jersey could gather together as much $500 million per annul through online gaming.

The impressive statistics didn’t come without a word of warning from H2 Gambling Capital though. Those figures aren’t just based on the fortunes of New Jersey’s neighboring states, but also on the continuance of players to keep gaming within its own borders, as well as the improvement of payment method options and more licenses being issued by the state, to other online casinos eager to get into the business.

At the moment, many banks and credit cards are refusing to process transactions for online gaming, despite the fact that in New Jersey, it has now become legal. Whilst this problem persists, many hundreds if not thousands of gamers are missing out on the spoils of online gameplay. This is quite a serious issue if the casinos are to take the maximum haul possible from gamers.

However, something which could boost figures yet further, is the release of mobile casinos, which New Jersey has already said that they are ploughing on with. The first mobile casinos could be open by early next year, adding yet more money to coffers of the Garden State.