If you want to become a bookie, then you will most likely also learn about other forms of gambling, like casino gaming. After all, the gambling landscape is quite different now that technology is making everything accessible. For instance, sports betting is big in New Jersey, but online casinos in New Jersey also generate millions in revenue each year. Thus, it remains the best option for the state to renew the law that allows operators to offer online gaming in the state for another five years.
According to the gambling laws in New Jersey, online casino gaming is set to expire in November of this year. Governor Phil Murphy has recently signed the iGaming extension, adding five more years for the industry. As mentioned earlier, online gaming is very profitable, with online casinos generating more than a hundred million each year.
Online Casinos in New Jersey Get Extension
If you check this bookie pay per head guide, you can learn how to offer an online casino aside your sportsbook operation. A lot of operators in New Jersey do this, offering more products to their players, thus earning more. And this extension is a big deal to the local market, especially for operators. To give you more perspective, usually, online sports betting in the state can generate tens of millions each month in revenue. iGaming generates ten times of that, usually at $100 million and more.
This May, online gaming for New Jersey operators has a $161.4 million revenue. Meanwhile, sports betting has $82.2 million in revenue. If we look at the numbers for 2023, sports betting revenue is at $46.9 million year-to-date. And online gaming is at $117.2 million for the same period.
New Jersey is one out of only seven states in the US that offers iGaming. Given the potential of the market, we may see more states adapt in the next few years. For now, you can take advantage of this and offer online gaming in your own sportsbooks. You can read a lot of guides online on online casino management and sportsbook management to help you learn. Such as this guide to giving the right credit limit to sportsbook players. The sooner you learn, the sooner you can start earning from online gaming and online sports betting.