NJ Online Gambling Revenue Drops In October

November 24, 2014 by

NJ Online Gambling RevenueOne of the most important tools that people have when trying to get online gambling expanded and regulated is appealing to government officials who want to use the industry to generate revenue. This was definitely the case in New Jersey, one of the first states of the US to add various types of online gambling. That’s why the fact that NJ online gambling revenue dropped in the month of October is so important because it shows us exactly how far they have come inside of the year they have been in operation and what’s likely to come in the future.

Important Notes About NJ Online Gambling Revenue

A total of about $9.5 million in revenues were taken in the month of October. This sounds decent, but that’s $700,000 less than the amount made in September. In both July and August, their games enjoyed positive growth, so it’s not like they’re on some big downhill slide. Still, a drop of about seven percent is still not a good thing to have to deal with, and it’s tricky to try to figure out why this drop happened. One theory is that players are saving money for the holiday season, but the holiday months are historically when online gambling sees the most in revenues.

Annual Growth

November is an important month for the New Jersey games because it marks a year that they have been running. While online gambling has increased a serious and measurable amount, the industry as a whole in New Jersey (including land-based values) has continued to drop. This is a pretty big deal as Atlantic City is starting to seriously falter in terms of being a premier gambling destination, and online gambling was expected to shore up those revenues.

While online casinos is seeing growth in the state, it’s not enough to plug the holes that plague Atlantic City and their losses each year compared to the next. Something’s going to have to give for the state to get their total revenues stabilized, and as of yet, no one has figured out what that something is.

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