ccording to a report released earlier this week by NJOnlineCasino.com, "2017 Year In Review: The Performance Of New Jersey's Legal Online Casinos", "New Jersey's legal online gambling industry will follow up a remarkable 2017 with more growth in 2018, albeit at more modest pace as the market matures." In addition to recapping the milestones the industry reached — including a record $245.6 million in annual gross revenue and lifetime revenue of $722.4 million — the report comes to some key conclusions.
Regulated online gambling has contributed to growth of land-based casinos by injecting a quarter of a billion dollars into Atlantic City casinos. New brands and games helped broaden the appeal of regulated online gambling in 2017.
The introduction of additional brands, new games, and improved payment methods will help lift 2018 revenue to a new record. "The 2017 results for New Jersey's legal online gambling industry gave us new high-water marks for the industry, which has been the rule rather than the exception since it was regulated in 2013," said Chris Grove, a gambling industry expert who authored the report for NJOnlineCasino.com. "More importantly, online gambling continued to buoy Atlantic City. It's clear that regulated online casino and poker sites are a maturing industry that will benefit New Jersey's economy for years to come."
Since launch in November 2013, New Jersey's legal online gambling industry has collected $126.5 million, including $42.98 million in 2017. Casino games generated $221.3 million, up 30 percent from 2016.
Online poker fell to $24.3 million, down 8.5 percent from $27.2 million in 2016. "We expect growth to continue in 2018, with new games and improved payment options serving as the major engines behind that growth," Grove said. "But we'll also see more consumers using the sites as marketing and awareness continue to increase, and as new brands launch, helping to keep the industry fresh."