New Jersey’s Casinos Reporting Total Winnings of Over $511 Million
$5,000 Welcome Bonus
New Jersey has long been a key gambling destination in the USA, second only to Las Vegas in terms of footfall and revenue generation. Although Garden State is already well known for its wide selection of traditional land-based casinos, the introduction of in-state online gambling (first legalized in 2013) has markedly affected its ability to generate meaningful revenue. NJ’s increasing economic power in the field of gaming was typified this year by the state’s record performance in the iGaming sector, with an overall gambling revenue of $526.6m and $510.9m reported in March and April, respectively. Let’s examine some of the finer details and see why the state of New Jersey’s gambling industry has gained so much traction within the past year:
Gambling Revenue Increases Annually in New Jersey
Land-based casinos continue to dominate the gambling scene in NJ, having commanded the greatest share of gross revenue in April 2024 ($216.8m). Despite the continuing prevalence of brick-and-mortar gaming venues (in New Jersey, these include some of the top US online casinos), it has become increasingly obvious that land-based casino gaming is in relative decline within the state. For instance, physical casino revenue has actually reduced by 6.3% since April of the previous year, when it hit a respectable $231.5m. While this slump in productivity may seem alarming at first glance, it’s important to note that a sizeable portion of previous land-based casino revenue is likely to have migrated online. This is because gamblers based in New Jersey are spending increasing amounts of money on online casinos and sports betting sites. iGaming market revenue was valued at £187.9m in April (an 18.2% increase from the previous year), whereas the sports betting market alone commanded a notable sum of $106.2m (a sizeable annual increase of 46.9%). While traditional betting shops accommodated sports wagers totaling $34.7m, online sports betting sites in NJ were able to accumulate bets totaling $1.01bn, an eye-watering increase of 46.9% since 2023. Essentially, these figures demonstrate that the total gambling revenue in the Garden State has in fact increased by 10.4% since April 2023, despite a reduction in land-based gaming activities. What are the reasons for the rocketing rates of player interest in online gambling sites, and what does this mean for the state of New Jersey’s wider gaming industry and economy?
Atlantic City Propels Economic Growth in the Garden State
New Jersey had played host to a thriving gaming industry since at least 1977, when casino gambling was first legalized in Atlantic City. In the years that have followed, AC has gained a reputation amongst both residents and tourists alike as one of the USA’s premier gambling destinations, rivaling New Orleans and even the famous ‘Sin City’ – Las Vegas. As an attractive option for keen gamers visiting from out of state and further afield, Atlantic City has long served as a key economic driver in the Garden State. Despite the recent dip in the land-based gaming sector, the city’s excellent range of physical casinos remains a powerful source of revenue generation, especially in terms of the tourism industry. It’s worth noting here that, as well as providing a cash boost at the casino floor level, tourist dollars can also work to supplement local businesses, strengthening local and national economies in the process. If you’re thinking of taking a trip to AC to hit the gaming tables or place some bets, be sure to check out the best land-based venues and casino resorts that the city has to offer. In 2024, our selection of these includes the Golden Nugget Atlantic City, Caesars at Atlantic City, Ocean Casino Resort, and the Hard Rock Hotel & Casino.
The Rise of No Deposit Casinos in New Jersey
NJ has been at the forefront of the national gaming industry for decades, having taken a more progressive stance towards gambling than many other states. The Garden State’s widespread swing towards iGaming is the latest embodiment of this forward-thinking attitude, which has provided gamblers with new ways to play their favorite casino games and place wagers on the hottest sporting events. If you’re a gamer looking to get in on the action in NJ, you should be aware that the state accommodates some of the finest US no deposit bonuses and no deposit casino platforms in the country – but which bonuses are you most likely to receive when gambling in the state? Why not take advantage of these approved no deposit bonuses and access the most competitive bonuses available online. Here are the most common offers:
- Free Bet / Casino Credit Bonuses – Whether you’re a sports bettor or casino lover, you can find that you’re entitled to free bets and casino credits when you sign up with an NJ online gaming platform. These will enable you to place bets on sporting events and select casino games, often with no cash deposit required.
- Free Spins – The vast majority of online casinos now provide their new members with free spins for select slot machine games. These can be applied to promoted real money slot machines, which means you could even pick up a cash win on the house!
- Referral Bonuses – These are handy no deposit bonuses that can be useful for both online sports bettors and casino players. Often, all you will need to do to qualify is refer your friends or family. However, it’s worth noting that the person you refer to the gaming platform may be required to place a cash wager in order for you to access any subsequent winnings.
What’s Next for the New Jersey Casino Industry
New Jersey’s recent uptick in total gaming revenue (and the associated tax accumulation) could provide a counterweight to claims that the online gambling boom may be detrimental in terms of encouraging negative economic activity and problem gambling within the Garden State. If the latest figures are anything to go by, the iGaming market in NJ looks set for continued and considerable expansion. It’s thought that iGaming will pose an increasingly powerful rival to the dominant land-based casino sector in NJ, especially if footfall continues to dwindle in physical gaming venues, as demonstrated in the April 2023 revenue reports. Whatever the future may hold for land-based casinos, iGaming site operators and bettors in NJ, the dramatic surge in annual revenue surely signifies positive progress for the Garden State and potentially the wider American economy.
