According to a recent report by the American Gaming Association, online casino revenue in New Jersey is predicted to grow from $750 million in 2020 to $1.17 billion in 2023. This growth is attributed to the increasing popularity of the best NJ online casinos, which you can find out more about here, and the addition of new casinos and sports betting sites in the state.
With more people spending time at home due to the pandemic, even more, will likely turn to online gaming as a form of entertainment.
Casino revenues in NJ growth
New Jersey have made significant progress in the casino industry since online gambling was legalized in 2013. The state now boasts some of the highest revenues from its casinos in the entire country, with non-traditional gaming projects such as internet-based poker preventing any downtime for all those looking for a little fun, excitement and entertainment. Since introducing internet gambling, New Jersey’s casinos have gone from strength to strength, rising year after year to set new records and provide much-needed funds to state coffers. All in all, it has been truly remarkable what legalizing online gambling can do for a state economically and culturally.
In 2023, it is predicted that online casino revenues will reach $1 billion
2023 is set to be an exciting year for the online casino industry. With revenues predicted to hit an impressive $1 billion, it’s clear that the virtual gambling market will soon be booming. At such a rate of growth, more and more people are flocking to online casinos for entertainment, seeking out thrilling experiences from the comfort of their homes. An increasing number of game choices being offered by these establishments is only adding to the appeal, with something for everyone tuned in, from casual novices to seasoned high rollers alike. 2023 promises to be a very profitable year for the online casino world.
The main reason for the growth of online casinos
Online casinos have been revolutionizing the gambling industry around the world. They offer users unprecedented convenience and accessibility, making it possible for anyone with an internet connection to play games from their homes or even on the go. The advantages of online casinos compared with traditional casinos are endless – from choosing from a wide selection of popular games to taking advantage of bonuses, discounts, and special promotions available only in the digital space. Moreover, online casinos often lower overhead costs due to not having physical buildings, allowing them to have more competitive payouts for players. With these factors in mind, it’s not surprising that so many people have embraced this form of entertainment, contributing significantly to its growth in recent years.
Wider variety of games
Many people are ditching their traditional brick-and-mortar casinos for the convenience and selection of online options. When gambling online, you don’t have to worry about vacation planning or to traverse long distances – your entertainment is just a few clicks away. Plus, online casinos offer a much larger variety of games than traditional casinos, including all your favourite classics and innovative, modern alternatives. So why drive miles to play when you can get all that fun right in your hands? Try out an online casino today and see what all the fuss is about.
The legal landscape
Online gambling has experienced a dramatic rise in popularity over the past few years, so much so that it could rapidly become commonplace across all fifty states. This is a brave new world of virtual entertainment, and there is no doubt that this form of gaming will soon become a staple in many households. Likely, other states will soon join those who have legalized this activity. The increased demand for convenience and security afforded by online gambling platforms is enough to suggest that more places will approve its use as fewer regulations are placed on it. It’s becoming particularly apparent that legal online gambling could provide substantial government revenue from taxation and job creation within an ever-growing industry. There’s no telling when or where precisely the boom will reach but with news of more state-wide acceptances of this endeavour sure to come soon, it seems clear that it won’t be long before everybody has access to this exciting lifestyle recreational activity.
The gradual but steady growth of online gambling in NJ since it was legalized in 2013 is predicted to continue, with casino revenues reaching $1 billion by 2023. The convenience and accessibility of online casinos are the main reasons for their popularity, as they offer a wider variety than traditional brick-and-mortar casinos. With the increasing popularity of online gambling, other states are likely to legalize it as well.