New Jersey Online Gambling Sees Rapid Growth in March
New Jersey online casinos have made more revenue in March than any other month. They have set new records that exceeded previous highs for the state market. However, with all that happening, online poker speaks a different story. The growth has been powered by table games and slots than Omaha and Texas Hold’em. According to figures that were released by the New Jersey Division of Gaming Enforcement, online gambling has brought in over US$39.1 million in profits for March. Also, over US$5 million above the previous month for the nation.
Online Casinos Benefit from Influx of Sports Punters
That’s an unbelievable year-over-year growth rate of about 53 percent, as online gaming brought in about US$25.6 million in February 2018. Most of that growth seems attributable to the presence of sports betting. With gambling operators now mixing casino games with mobile sportsbook offerings, which has made it a lot easier to reach additional customers.
This is a great idea for casinos and also the state of New Jersey. Unfortunately, it doesn’t look like this growing tide has raised all ships, as online poker still continues to step water at best within the state.bThe year-over-year number is not that bad: online poker profits were down 3.2 percent when compared to last March. Nonetheless, those numbers still remain worrying when a massive increase in the overall betting market doesn’t seem to be helping any poker rooms to bring in more players.
New Jersey Closes in on Nevada’s Sports Betting Crown
This might be because online sports betting has not really translated nearly as directly into extra players for poker rooms as it has for casino games online. If that can be corrected, there is possibly a large poker audience for poker operators to target, as sports betting online brought in just US$24.2 million in winnings for operatives in New Jersey in March. Totaling the sports betting total to poker games and casino, and online bookmaking generated US$63.65 million in returns. Which cannot be compared to last March, when sports betting was not legal in NJ. The quick growth of sports betting in New Jersey has analysts thinking that it’s a matter of if, then when. The state overtakes Nevada as the largest sports betting market. In February, Nevada took in US$458 million in a handle, but NJ was close on its heels with US$372 million.
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