New Jersey Gaming Scene 2020—How Big is it?
New Jersey has been making headlines since former Governor Chris Christie announced his state would challenge the PASPA Act in the Supreme Court in 2013. Christie was a huge advocate of the online gaming industry throughout the process.
Fortunately, the Supreme Court ruled in NJ’s favour, authorizing states to legalize the industry in 2018. Within a few weeks, the Garden State had formulated a framework for legalizing online casinos and sportsbooks.
Two years later, NJ is home to 23 online casinos and seven poker sites. And amazingly, it’s almost overtaking Nevada as the betting capitol of the US. What brought about this massive growth?
NJ Permits all Forms of Gaming
Although many US states are at advanced stages of legalizing online gaming, they have been permitting some verticals and not others. Take Nevada and California as examples. In both states, you can play poker and bet on sports. But you can’t play slots or blackjack.
New Jersey is different. It allows its citizens to play anything related to gaming in a legal environment. That means casinos in the state provide the maximum number of gaming positions. In turn, this attracts a lot of players and huge revenues.
Unsurprisingly, NJ earns more in revenues from online casinos than any other state in the country. In 2019, Garden State generated over $400 million, and that does not include $300 million from sportsbooks.
NJ Allows Top Tier Software Providers
When NJ legalized online casinos in 2018, it also created leeway for the best developers in the world to serve NJ operators. It invited the likes of NetEnt, Microgaming and Evolution Gaming to provide their games legally.
Naturally, these companies were eager to enter the NJ markets. And in light of doing so, they helped NJ casino players get access to thousands of top-rated games. From award-winning slots like Starburst to live dealers, Garden State’s gamblers receive the best of casino gaming.
How has game variety helped the iGaming scene in NJ? It helped attract a broader gaming market. Traditionally, video games were the only games most people had access to in New Jersey.
Now they can also play slots, blackjack, craps, poker and bingo from the best developers in the world. Most casino players want to play the best games, after all. They have high payouts, attractive graphics and regular bonuses.
Growing Supply of Trusted Casinos
As one of the first online casinos to allow online gaming, NJ had the honor of welcoming many trusted brands to Garden State. Some of them have been in the casino business for 23+ years. Others are new companies with a fast-growing reputation.
All the same, there are many benefits of playing at the best online casino New Jersey. Think of playing a beautiful, well-organized app, getting bonuses weekly and interacting with customer service 24/7.
Not every online casino provides quality services. So, players in NJ are fortunate to have access to world-class gaming sites. Of course, not all companies are created equal. As such, research extensively before you choose a casino to join.
NJ’s Low Tax Rates
Another reason NJ is now home to a $3 billion online gaming industry is that it has created an attractive business environment. And not only does it feature a competitive gaming scene; it charges reasonable taxes: 13%.
That’s significantly lower than the tax rate in Britain (21%) and Pennsylvania (16% to 54%). Low taxes help casinos provide high-paying games, regular businesses and personalized customer service.
In other words, NJ’s low taxes are the reason international brands want to provide their outstanding services in the state. It’s also the reason they can deliver high-quality products and services.
An Increasing Number of Banking Options
At least four debit card issuers and over a dozen e-wallets in New Jersey deny payments to gaming companies. This payment friction has deterred thousands of potential players from adopting the iGaming scene.
But the situation isn’t permanent. With time, more banking companies will embrace online gaming, and they will process payments. When that happens, online gaming activities in NJ will increase, and so will revenues.
As such, NJ hasn’t reached the peak of online gaming in New Jersey just yet. It is just scratching the surface, at least according to gaming research firm Eilers & Krejcik.
Attractive Bonuses
Most casino players around the world wish they could get some of the bonuses gaming sites give out in New Jersey. It could be a result of low taxes. Or maybe it’s because Garden State is a new market and they want to attract new players.
But casinos in New Jersey can be pretty generous with bonuses. For starters, nearly all of them have no deposit offers. The best part is that they come with low playthrough. Think of 1x, 5x and 10 wagering requirements.
First deposit bonuses are equally attractive. The average offer is a 100% match for a maximum of $500. The best companies provide up to $2000. But you the drill. Bigger bonuses aren’t always better.
Do players in NJ get loyalty offers? Yes, most gaming sites in Garden State have tiered loyalty programs. By default, you get better rewards the more you level up. The highest tiers come with exclusive rewards like an account manager or a paid trip abroad.
Huge Disposable Income
New Jersey’s rapidly growing gaming industry has attracted the attention of critics who believe it’s unsustainable. But there’s proof their claims are nothing more than euphoria. NJ has one of the highest average salaries in the country: $63,000.
That’s much higher than Nevada’s $42,000, the nationwide average of $43,000 and Britain’s average of $38,000. What does it have to do with online gaming? It clears doubts as to why the average bet sizes in NJ are much higher than most other parts of the world.
In other words, no one should be surprised the Garden State’s gaming industry is growing so fast. New Jersey’s players have a high level of disposable income. And that means they will continue to help the gaming sector in their state soar.