Long are the days when online casinos were considered diminutive investment in New Jersey.
Now, than any other time in the history of gaming, online gambling is fetching substantive amounts of revenue to the operators, brushing off the popular believe that traditional gaming channels usher in real money online casino gambling sites in NJ.
Sources indicate that many people are now interested in online wagering as opposed to what many thought initially that land0-based facilities are favored by gamers.
According to revenue statistics for the month of March, the amount of aggregate revenue collected from all online gambling centers was $21,745, 431. This is said to be 40%+ the amount online casinos collected the month of March 2016, the previous year.
The Enforcement Division of Gaming, (DGE), the body that is responsible for enacting legal and mechanical gaming framework in the state says that online gaming sector has a fundamental role in the stabilization of various development sectors in Atlantic City.
The same report goes on to say that the other gaming facilities, the seven land-based resorts accumulated $200.1 million in the month of March. That alone shows how the online sector played a big role in the total collection.
In fact, the online sector’s revenue made up of 11% of the total revenue collected in New Jersey in March 2017.
The reports continued to highlight on a significant role the online sector played in the total revenue collected.
It showed that over $1 of every $10 that a gaming facility received from their clients, came from the online sector. To that, DGE says it is a very important thing to note that online gambling should not be taken for granted. Rather, it is a sector that needs absolute concentration in the equal measure as that of other sectors.
“The first quarter of 2017 alone, internet gambling revenue has gone up by 32%. This is a good indicator that as the year stretches to its peak months, the online gaming sector is on a good pace,” said David Rebuck, the DGE Director.
Although good returns seem to be coming from the internet gaming sector, all is not smooth to gaming facilities. In just 3 years, five gaming facilities have closed down, leaving the number of those in operational to be seven, which is considered a good number for Atlantic City.
Market observers say that the casinos $200.1 million aggregate collection for the month of March is far too low in terms of the annual revenue percentage rise for internet gaming.
When the year per year rise for land-based casinos was 6.7 percent, 21.7 million online casinos’ collection represents 40.2% rise!