In the spirit of transparency, the Division of Gaming Enforcement in New Jersey releases monthly revenue reports. The latest report, summarizing October’s revenues, shows some interesting changes in gambling trends.
While the report shows a general increase in online casino revenues, it seems that the popularity of online poker welcome bonuses is decreasing steadily. The total casino revenue for October was $293.9 million, a 22.9% rise from the same month last year.
Out of the total amount gambling has brought in, online venues accounted for $45.2m of the revenue, in comparison to $26.8m last year – an astounding increase of 69%. But not all aspects of gambling were as profitable, as two gambling styles brought in less money than usual. Both table games at land-based casinos and peer-to-peer games, which includes online poker, showed a decrease in profits.
In October 2018, online poker revenues stood at $1,653,746. This year, the market saw a decrease of 0.8% in revenue, as it brought in only $1,640,329.
But even though it seems as if players are less inclined to play online poker these days, there is a slight improvement in profits compared to September. Since the previous month, the revenue from this online casino game increased by 0.09%, and hopefully, it will keep rising.
In the meantime, as online poker struggles to appeal to players, there is one aspect of the market that has shown a lot of promise: sports betting. In October of last year, this type of gambling brought in revenue of $11,686,119. This year, however, sports wagering generated a revenue of $46,393,537 – an astounding rise of 297%!
Online poker revenues in New Jersey have been in a constant decline in recent years, but statistics showed a slight increase in earnings from September to October of this year.
Other aspects of gambling, however, seem to be getting more and more popular. Sports betting, for example, is on a constant rise since last year – and it seems that more and more people enjoy wagering on sports events with every passing month!
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