Since regulating the online casino and gambling industry earnings from the industry in New Jersey have continued to grow as illustrated by the latest figures that we released, namely the results for the month of October.
And the numbers make for great reading if you are either the State of New Jersey or one of the leading operators there. September was a great month but October went over the top creating another record month. Revenue from the gambling industry was up to 45.2 Million USD, up 4.1m USD from August and September.
As expected the major contribution in the gambling sectorcame from the online casino market which was responsible for most of the earnings, online poker coming in a very distant second with not even 2m USD.
One really interesting thing to come out of the figures was that the leading casino, the Golden Nugget saw revenue from online operations exceed that of their land based casino for the first time. We would not be surprised to see this trend hold in future either.
Sports betting also did well, continuing to set new records, during the month of October over half a billion dollars was bet on sporting events. This resulted in the state taking in close to 27m USD.
Regulation certainly is the way for everyone to benefit and we can only hope that more states get on the regulated industry bandwagon in future. As we have always said people will continue to gamble and we would rather have them doing it at regulated companies then illegal operators of which there still appear to be plenty.
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