Sports betting dramatically increases NJ gambling revenue in 2019

Sports betting is arguably of the best things that’s happened to the gambling industry. It’s also arguably one of the worst. It really depends on which side of the fence it is that you’re sitting on.

 

Sports betting can be considered bad for the gaming world as it’s encouraged more and more people to start gambling, and has increased the amount of people who need support with their habits. This is in part due to the mass popularity of sports like football and hockey, and in part due to the introduction of new technology that makes gambling and spending even easier.

 

On the flip side, sports betting has made the gambling much more enjoyable for people and has given sports fans a reason to try their luck with gaming. It’s widened the horizons for experienced gamblers, helped new gamblers find the games that they are passionate about and bought in a lot of revenue for gambling websites and hosts.

 

Regardless of your position on the matter, it’s undeniable that the sports betting scene has dramatically increased gambling revenue as of late. One place that this is particularly prevalent is the Garden State, New Jersey.

 

Sports betting in New Jersey was legalized in June 2018, as this Legal Sports Report article points out. It has since gathered an immense audience and following, particularly taking off in the year of 2019. We’re sure to see it soar to new heights in this year, too.

 

In the first ten months of 2019 alone, sports betting and gaming bought in a whopping 96 million dollars in revenue. To see this amount of revenue, popularity and enjoyment in such a short amount of time is absolutely astounding.

 

Generally speaking, online gaming as a whole is also facing a massive increase in revenue and popularity. As Arkansas Online points out, experts in the gaming industry are predicting a massive jump in revenue for every type of online gambling to occur.

 

When you look at online gambling versus in-person gambling, it’s easy to see why there has been such a massive increase in digital gaming. One of the main reasons is convenience.

 

Online gambling is so much easier to access nowadays, as new games, applications and websites are being developed and released all the time. Gamers can access their favorite games and play to their heart’s content without ever needing to leave the comfort of their home. Online payment technology like Apple Pay certainly helps in this regard, too.

 

The federal ban on online gaming in the US was lifted by the Supreme Court only a few years ago. At the time of writing, thirteen states in America have sports-betting operations in place. Another six states are on their way to having sports-betting organizations in place too. It’ll be interesting to see which states follow suit.

 

It’s important to note that there are inconsistent procedures and laws in place across America, as many states have legalized different parts of the online sports gaming scene. For example, New Jersey, Delaware and Pennsylvania offer online casinos, whereas the state of Nevada offers up only sports betting and poker.

 

There are many states that are expected to follow this pattern. For example, West Virginia is expected to bring in online games and casinos this year, which will be great news for the gambling fans and gamers in that state.

 

One thing that many people in the gambling industry are concerned about is that online gaming may take away revenue and footfall from casinos and other in-person gambling locations. So far in the state of New Jersey, this has not been the case at all.

 

With New Jersey’s 9 most popular land-based casinos, experts are predicting revenue reports to climb to the best that they’ve been in a decade. The iDevelopment and Economic Association commissioned a study into this to confirm this point and reassure people within the industry.

 

It’s reasonable to suppose that this increase in casino gambling could be linked to online gaming, in a positive manner. Many people who may have never played any casino games or bet on a sports game can be introduced to the world of gambling through online gaming and digital casino platforms.

 

As we break into the new year of 2020, it’ll be intriguing to see where the world of online gambling goes next. Which states will introduce online gambling? How will the rising popularity of online gambling affect players and companies alike? We will have to wait and see. And, as always, don’t forget to gamble responsibly.

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