NJ Eyes Extending Robust Online Betting Market Another 10 Years

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Mindful that its thriving internet gambling market is one of the brightest spots in NJ's uneven gambling landscape, the state's lawmakers are moving to extend authorization for online bets for another 10 years.

New Jersey launched internet casino games in Nov. 2013, and since then its casinos have won $4.79 billion from gamblers online. That's nearly twice the $2.47 billion Pennsylvania casinos have won online since July 2019.

Those figures are for online casino games only, and do not include sports betting revenue, which is reported separately. While the internet gambling numbers look impressive on paper, Atlantic City casino executives caution that they are not all they seem. Internet gambling money, much like money won through sports betting, is shared with third-parties like tech platforms. Not all the money reported by the state to have been won by the casinos online is actually kept by the casinos; as much as 70% of it goes to outside parties, casino executives say.

 

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