Popularity of internet gambling in New Jersey growing, analysts say
The internet gambling market in New Jersey showed some very strong growth in the first quarter of 2016.
Figures from the state Division of Gaming Enforcement show an almost 28 percent increase in web gaming, versus the first quarter of last year. Web gambling revenue in the state went from $35.1 million in the first quarter of 2015 to $44.9 million in this year's first quarter.
Publisher Roger Gros, of Global Gaming Business Magazine says "there is a bright future ahead in 'I-gaming' in New Jersey."
Gros says online gaming is going to continue to grow, it is becoming more popular, people are understanding how it works, and a lot of the glitches that were there early on in terms of payment processing and geo location have been fixed.
"It is not so onerous to get online and gamble. So you are going to see it happening more and more over the next few years for sure."
The state law allowing online casino games was signed by Gov. Chris Christie in 2013. Only websites approved by the state are allowed to operate and advertise in New Jersey.
Gros says while it isn't keeping any AC casino afloat, the surge in web business has helped some casinos come to the break even point.
"As long as this keeps growing, and also the non-gaming revenues keep growing, the Atlantic City casino industry will be pretty healthy."
He maintains that the casinos that are really successful, the Borgata, which is the most successful casino to begin with, and Caesar's, with their "World Series of Poker," will likely continue to maintain their dominance.
In just the month of March alone, there was an nearly 18 percent online gambling increase in New Jersey, due in part to the introduction of PokerStars.
Gros has also gotten into the internet gambling act in New Jersey, with their affiliate marketing website, igamingplayer.com. They recommend some of the best deals in the online casinos.
Joe Cutter is the afternoon news anchor on New Jersey 101.5