uploads///Part

Online Gambing Generated Over $100 Million In New Jersey

By

Nov. 27 2019, Updated 7:41 p.m. ET

New Jersey dominates online gambling

Nevada only allows gambling on poker. Delaware allows gambling on table games, video lottery, and poker. New Jersey allows gambling on casino games and poker. Currently, New Jersey dominates the market. It has ~90% of total US online gaming revenue.

The above chart shows that the overall US online gaming business generates ~$11 million per month. This chart breaks down the total online gaming wins by state. It also breaks it down by poker versus banked games. In banked games, players bet directly against the house. When we add the total year-to-date, or YTD, online poker and banked games’ revenues, New Jersey is above the $100 million mark.

Article continues below advertisement

Nationally, poker represents about one-third of total online gaming winnings. In Nevada, interactive poker represents ~8% of the casinos’ total poker wins. In New Jersey, online gaming accounts for ~5% of total gaming revenue. This year, Wynn Resorts (WYNN) and MGM Resorts (MGM) were officially approved to offer online gambling in New Jersey.

Caesars Entertainment (CZR) is one of the major casino operators in Atlantic City. ETFs—like the Consumer Discretionary Select Sector SPDR Fund (XLY) and the VanEck Vectors Gaming ETF (BJK)—provide overall exposure to the casino companies.

Online gambling types

Nevada started offering interactive poker in April 2013. However, it started reporting revenue figures publicly in February 2014.

Delaware tracks online gambling by tables, video lottery, and poker. It started offering online gaming in November 2013. In addition to poker, Delaware has online table and video lottery play.

New Jersey reports poker and other authorized games’ wins every month. It reports data for each operator. Online play started in November 2013.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.