New Jersey is one of the biggest online gambling markets in the US, allowing residents and guests to comfortably place their bets and enjoy gaming both online and in person.
Currently, gamblers in the Garden State have access to 30 online casinos and video poker sites, as well as 27 sportsbooks. And it seems like the digital gaming industry of New Jersey isn’t going to stop any time soon.
Online Gambling Legalization and Extension Bills
The online gambling market in NJ was set to reach its expiration date in 2023. After much anticipation from casinos and players, the committee was unanimous in its decision to extend the life of online gambling in New Jersey for another ten years.
A measure allowing online gambling for New Jersey citizens over 21 was approved by the state legislature in 2011. The computer servers in charge of managing the internet component had to be situated within authorized Atlantic City casinos because gambling was only permitted there.
After a lengthy debate, a new measure was finally presented and approved in 2013 on the basis of a 15% internet tax requirement and in accordance with official guidance from the New Jersey Division of Gaming Enforcement (NJ DGE) and the New Jersey Casino Control Commission.
The 2013 law that allowed online poker and casino games had an expiration date of 2023. Without additional legislative changes, all online gaming websites would have to shut down in a little over a year. Sports betting, which became legal in 2018 according to a separate statute, doesn’t comply with this timeframe.
Assemblyman Ralph R. Caputo, with support from Annette Chaparro, filed measure A2190 in February 2022, which would provide the online gambling industry another 10 years. Claire Swift and Donald Guardian are the bill’s co-sponsors.
It’s tough to envision New Jersey, the nation’s top state for online gambling, abandoning such a successful endeavor at this time and permanently shutting down the finest NJ online casinos.
Revenue of the First Decade of Online Gambling in New Jersey
NJ has set the benchmark for US online gambling enterprises on how to run a successful industry. For example, the concept of giving online operators access to the brick-and-mortar casino business was developed in New Jersey. All other jurisdictions that have permitted online gaming and several more that have legalized online sportsbooks have followed in NJ’s footsteps. That must be a source of pride for the lawmakers, especially the officials who pushed for 2013 legislations.
The development of online gambling in the US has been greatly influenced by New Jersey. The majority of its expansion results from the victorious legal struggle in which the PASPA was struck down.
The court’s decision allowed for the legalization of sports betting in New Jersey and other states. No longer was Nevada the exclusive online gambling industry in the US. Since the PASPA was struck down in 2018, the state’s online casino income has risen dramatically.
In December 2014, the online gambling market of New Jersey had revenue of $10,736,118. In September 2022, the revenue reached $135,245,169.
$3,458,668 was made through casino gambling in June 2018. In January 2019, it increased to $18,777,582. The state’s tax income reached $8,019,106 in January 2022. It is apparent that as soon as the legal status of sports betting changed, the revenue increased.