Celebrating its ninth year of operation in November 2022, the New Jersey iGaming industry booms with new records set nearly every month.
New Jersey was the first American state to legalize online casinos in 2013, presenting some of the biggest online brands. Now, just nine years later, the state features over 30 legalised online sites and celebrates revenue of over $1 billion.
Despite the pandemic restrictions being lifted at land-based casinos, the iGaming industry grows at a steady pace, now collecting an average just south of $140 million in revenue per month. This is certainly incredible growth considering $123 million was collected in 2014 for the entire year.
Revenue for October Sets Yet Another 2022 Record
The New Jersey internet casino industry seemed to settle between the $130 million to $140 million mark, based on revenue collected up to September. The record for the year was set in March, during which $140.6 million in total revenue was collected.
In September 2022, a total of $135.2 million was generated, which revealed a 10% growth compared to September 2021. However, October 2022 set a new record-breaking total of $147.2 million, an impressive 15.9% higher compared to October last year, during which $127 million was generated.
Top Performing Months in 2022
The state has collected over $900 million in tax revenue since legalizing online casinos in 2013. Since, many new casino brands have gained licenses to provide legal online casino games, offering more services, promotions, and benefits, allowing the market to grow rapidly.
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