New Jersey Online Gambling Revenue Grows Strongly In Spite of Challenges

A new report from the New Jersey Division of Gaming Enforcement found that online gaming revenue grew by 8.9%. This was a sharp drop from the previous month, when revenues increased by nearly 30%. Nevertheless, many experts are encouraged that the industry is still growing strong in spite of some of the challenges that if faces.

The DGE report showed that player preferences may be shifting. Online poker revenue dropped 10% over the previous month. However, overall casino revenue increased by 20%, which allowed the state to maintain its modest month-over-month growth.

Experts are confident that the industry will thrive in the long-term. However, there are some short-term problems that may hinder growth. Many experts predict that growth will decline during the spring as people choose to spend less time online. Some technical problems such as issues with the geolocation technology have been a setback for the industry. Player complaints may deter new players from entering the market.

These problems will dissipate over time, but other longer term challenges will arise. The newly regulated online gaming market has begun to lose its novelty factor, which could hinder growth. The industry will also have to balance finding new customers with retaining its existing player base.

Despite these challenges, the industry is optimistic that online gambling revenues will continue to increase over the next year. The introduction of NETELLER service may help players reach customers that ran into problems with their banks. The DGE also agreed to loosen geolocation standards, which has helped providers reach more players on the edge of the state. These factors may help bring more players to the state's gaming sites.