New Jersey residents love their casinos. Of course with unprecedented closings in Atlantic City of physical casinos, all of the gambling had to be done at online casinos in the state. Those numbers did not disappoint, as New Jersey reported in the latest report a win of nearly $65M for the month of March. That is a growth of nearly 25%, but this is somewhat to be expected. After all, physical casinos were closed during the month and sports were suspended as of two weeks into March. Let’s take a look at the numbers.
March 2020 Online Casino Revenue
|Month||Online Casino Revenue|
|Growth over Month||$12,834,135|
At least there was some good news in March in the internet gaming space, as New Jersey online gambling reported a gain of over $12.8M in revenue since February. Of course, these numbers could be inflated with sports being suspended and physical casinos being closed, but also could be balanced out by the reduction in spending in the economy due to the coronavirus. Keep in mind, for only half of the month there were restrictions due to the pandemic, so April’s numbers could be outrageous compared to the growth we saw in March. Casino customers have clearly shown they will gamble at the online casinos, and we will see for sure with the April numbers.
Looking at March 2020 compared to March 2019, New Jersey saw a revenue boost of $23M, and growth of nearly two-thirds. If you add online poker revenue to online casino revenue, there was a jump of 65.6% in total online casino revenue compared to last March.
NJ Bettors Turn to Online Casinos Amidst COVID-19
New York, Connecticut and New Jersey join growing list of states closing casinos.
Casinos will close at 8 p.m. tonight.
Online gaming (in NJ) remains open.
— Ben Fawkes (@BFawkesESPN) March 16, 2020
As of March 16th, 2020, New Jersey casinos closed their doors, but online casinos remained open. That means that in 15 days, New Jersey online casinos likely showed massive growth that led to the increase in revenue for March. It is no surprise that online casino growth occurred with sports bettors having limited choices and casinos being closed, but the real impact will be seen when April numbers are released.
Gov of NJ got jokes. After announcing that casinos would be closed, he says, "good news: online gaming is still available. Bad news: not much to wager on." #coronavirus
— T.J. Holmes (@tjholmes) March 16, 2020
As the Governor of New Jersey said, online gaming is still available. But the one thing is, he missed the point about just how much New Jersey online casinos can offer. April numbers on online slots, blackjack, and live dealer games will be a true test to see just how popular the online options are when there is literally nothing else to wager on in America in terms of major professional sports. Bettors are migrating to online casinos and certainly online poker.
New Jersey Online Poker Grows in March
Haven't played online poker since my kid was born (can't remember which) … are there any legal US sites? Or do you have to live in a state like NJ??
— Teddy Greenstein (@TeddyGreenstein) March 13, 2020
Many former poker players that turned to sports betting and/or fantasy sports have taken this route, and it shows in the March numbers. In March, New Jersey online poker revenue came in at $3.63M, up from $1.9M in February. That is nearly double the peer-to-peer gaming handle, with a growth of 90.6% per the latest report from NJ.gov. With online poker growing with the online casino industry, April will be a massive month in terms of expectations.