The narrative chronicling the remarkable 10-year journey of New Jersey online gambling extends beyond mere words. Some may contend that the statistics underpinning the unparalleled triumph of the state’s internet gambling industry are more elucidating than the most eloquent prose.
The historic ten-year run of New Jersey online gambling and casinos culminated in October, yielding a staggering $7 billion in gross gaming revenue and contributing over $1 billion in taxes, providing a vital lifeline to Atlantic City casinos during the throes of the Coronavirus pandemic and economic constraints.
November 21, 2013, witnessed the state Division of Gaming Enforcement’s authorization of a “soft launch,” followed by full play approval for six licensees on November 25. At 9 a.m. on November 26, 2013, legal online casino gambling in the Garden State commenced, resulting in the creation of more than 126,000 online user accounts that year, as reported by the Casino Control Commission.
Reflecting on the inception of New Jersey online gambling, history notes that on February 26, 2013, former Governor Chris Christie sanctioned Senate Bill 1565 into law. Subsequently, on October 21 and October 28, the Division of Gaming Enforcement implemented regulations overseeing internet gambling operations, including the stipulation that all patrons must be at least 21 years old.
The trajectory of internet gambling revenue taxes has exhibited an upward trajectory since 2013. In its inaugural year, internet gambling contributed approximately $1.26 million in taxes. By the close of 2014, the tax contributions surged to about $18.4 million, reaching over $22.3 million the subsequent year. The trend persisted, culminating in tax collections exceeding $205.2 million in 2021, and a record-setting $250 million in 2022.
In the initial 14 months of legalized New Jersey online gambling, operators reported a modest sum of slightly over $131.2 million. Fast forward to January 2021, and monthly online gambling revenue surpassed the $100-million threshold. State online casinos consistently exceeded $140 million each month in 2023, with three instances surpassing $160 million, including a record-setting $166.8 million in October 2023.
Online casinos continue to break revenue records for the state, but the question remains of just how high can they ascend from here? Only time will unveil the answer to this captivating trajectory that forever changed the landscape of online gambling in America.
