On February 26, 2013, the New Jersey Division of Gaming Enforcement legalized online casinos, allowing partnerships with land-based establishments to provide legalized and regulated remote gaming.
The law allowed online casinos to operate for ten years, which expires later this year. However, Governor Phil Murphy has already agreed to sign a new bill for a further extension.
What’s now become a billion Dollar industry had a much slower start in the first few years. However, we see steady monthly growth with more online casinos joining the market and gaining a boost from the pandemic during which land-based casinos were closed.
The first NJ online casinos launched later in November of 2013, reaching a total revenue of $653,425 for the month. In December 2013, the DGE released revenue figures for the first entire month, earning $4,503,755.
NJ Online Casino Revenue Growth in December (2013 – 2022)
|Year||Total Casino Revenue (December)||Growth (Year-on-Year)||Growth %|
Nearly doubling the total revenue within the first year gave New Jersey online casinos a brilliant start. However, the percentages were certainly on the decline, growing only 15,60% December-to-December in 2017.
In 2018, the state legalized online sports betting, which became available as an additional feature at online casinos. New brands such as FanDuel was also introduced to New Jersey, focused on betting, but offering online casino games as well. Of course, this provided an impressive boost to the casino industry, growing by over 44%.
In 2019, many casino fans turned to online casinos instead of risking their health by attending land-based casinos during the COVID-19 pandemic, which once again provided the online industry with a generous boost. In 2020, land-based casinos were forced to close their doors for extensive periods due to the pandemic, making online casinos the only option.
In 2021 and 2022, land-based casinos have operated as normal and applied various upgrades and benefits for players to return. While the percentages are smaller, it’s remarkable that online casinos still manage to grow, reaching new record highs multiple times in 2022 and in January 2023. However, it’s unlikely that growth in this year would exceed 20% as commonly seen in the last decade.
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