Online gambling is a gold rush bringing economic windfall to New Jersey. The virtual casinos that live in the pockets and purses of millions of Garden State residents don’t glitter along the shores of Atlantic City, but are just as enticing.
Record revenue climbs with a click or a swipe, but the jackpot comes with a price.
New Jersey online casinos had a flush October, reporting a record-breaking $213 million in revenue, with sports books – where 90% of all sports bets are placed online in our state — garnering $77.5 million. The industries have generated almost $3 billion in revenues combined, year-to-date. Sports betting and its online variant were legalized in New Jersey in 2018 and have become a $10 billion industry nationally, with the State’s industry generating some of the highest gross revenues.
