New Jersey gambling regulators reported a 10.4% increase in casino and horse tracks revenue – as gamblers wagered over half a billion dollars.

New Jersey Gambling Revenue Sees Positive Growth During April

The relevant casinos that accept sports bets in New Jersey played a huge part in this increase compared to April 2023.

However, internet betting was the major factor, as April 2024 was the second-best month for New Jersey in terms of gambling revenue.

In-person gambling failed to match this growth, dropping by 6.3% compared to last year and the New Jersey Division of Gaming revealed that physical gambling played a small role in the $511m made in April.

The impact of in-person wagering is still considered a ‘core business’, as any revenue from digital betting is split with partners – including popular sports betting apps.

Out of the nine casinos in New Jersey, six recorded a lower revenue from in-person gambling compared to April 2023.

The same number of casinos obtained less from physical betting than they managed in April 2019, prior to the COVID-19 pandemic.

Director of the Lloyd Levenson Institute at Stockton University, Jane Bokunewicz, believes the money made from physical gambling will improve this summer due to an increase in visitors – but will still be less than the revenue made from other hospitality factors.

She said: “It will be many months before a clear picture of this trend is available, but operators’ recent investments in improving resort offerings suggest that a significant shift in the market’s overall revenue mix could be coming.

“A focus beyond gaming, to the elements that make Atlantic City unique and a stronger competitor against the threat of New York City casinos, is simply good business.”

When looking into the new online betting sites in New Jersey, Resorts Digital won $66.4m (a 7.2% increase) and the Caesars Interactive NJ won $612,910.

During April, three internet gambling sites moved from the interactive company to Tropicana, as the company begin a shift in 2024.

Gambling via the internet brought in $188m during April, which is an 18.2% from 2023 and as previously mentioned, was the second-highest finish in the state’s history.

Another huge section of revenue came through sports betting, as $1bn was generated and $106m was kept after paying winning bets and external expenses.