Online Casinos in New Jersey Can Benefit by Expanding

Expansion Online Casinos

All gambling activity in New Jersey is regulated by the state’s Division of Gaming Enforcement. This agency is responsible for licensing online casinos and land-based casinos. The Division of Gaming Enforcement information shows that while there are seven casinos in New Jersey, not all venues have an online casino option for players. However, industry experts believe that the online market in the Garden State is going to grow in the future. With a recent ruling by the Supreme Court that allows sports betting nationwide in the United States, the competition level will increase.

The evidence is clear that online casinos and gambling are contributing to a larger share of the market in New Jersey. Total revenue from online gambling in 2017 was over $245.6 million. By comparison, this number was 25 percent higher than the same draw from the year 2016. The online revenue may still be only a fraction of a local industry that is well over $2 billion. However, the online casino platform allows players from all over the state to enjoy gambling from home and is creating a rapidly growing alternative to traditional casinos.

New Jersey’s gambling mecca, Atlantic City, will have two more casinos joining its ranks in the summer of 2018. The Hard Rock Hotel and Casino is expected to create considerable buzz around the tourist town, operating out of a renovated venue that was formerly the Trump Taj Mahal. A site in which the failed Revel Casino was located has also been redone and will be home to the new Ocean Resort Casino. After both grand openings, Atlantic City will be home to nine land-based casinos.

Another factor driving the success of online casinos is the younger generation of players. The Insights Association performed a comprehensive study on the gambling habits of millennials who are of legal age to do so. Participants in the study reflect an overall acceptance of gambling as a pastime. However, the younger crowd prefers casinos in an online setting as opposed to what they consider “depressing” casino floors at land-based venues. The idea of quickly finding casino games online seems to be more appealing than getting lost inside of a large traditional casino.

Casinos in New Jersey have realized that an online platform may better suit players who are younger. In addition, millennials tend to gravitate towards more social gaming. Blackjack and poker are two popular options at online casinos, while online slots do not have the same allure for newer players.