New Jersey Online Gambling Profits Explode in December

Posted By: Date: 01/20/2015 at 12:00 am Leave a comment

Since online gambling was first legalized a couple of years ago, the world has been watching the profit that the industry makes. Since its inception, the official political stance of bother the number of players and the profits it brings in has been “well, it’s alright, but it could be better.” Apparently officials were expecting some sort of overnight miracle from an industry that had been unfairly shunned for the better part of two decades.

Last month, New Jersey did something incredible. Despite the fact that land based casinos in New Jersey have posted decreasing profits, and some have even shut down, gambling is more popular than ever in the garden state. The gambling industry continues to thrive thanks to online gambling, and last month, they posted a profit of 22.8% in December. It could’ve been a great no deposit promotion, or maybe residents just didn’t feel like getting out, but whatever the case may be, it was a great month for online gambling.

This is particularly interesting for a couple of reasons. For starters, November was a terrible month for online gambling in New Jersey. Profits sunk to a new low. In 30 days, the industry bounced back and posted huge numbers.

Also, last month was a crucial month for Sheldon Adelson and opponents of online gambling. The Restoration of America’s Wire Act bill was floating around, and though Congress (fortunately) didn’t get the chance to vote on it, it made online gambling fresh in everyone’s minds.

Finally, Chris Christie proposed legalizing sports betting in late November, which the big four leagues were able to postpone. The legal battle dragged into December, with the NBA commissioner asking Chris Christie to help him get sports betting legalized. These numbers will only further the support for legalized sports betting.

What’s crucial now is that New Jersey keeps the momentum up. With the rumors of a new credit card code specifically for legal online gambling floating around, it shouldn’t be difficult. If the new credit card code ended up being legitimate, a whole slew of new players could gamble online. Not only would this be great for players, but it’d provide a truly accurate picture of how the gambling industry would fare if it were to be legalized in other states without any sort of restrictions in place. Hopefully the credit card code gets put in place soon and people can actually gamble online when they want.

With Sheldon Adelson gearing up to resume his fight against online gambling, this is great news at the perfect time. If New Jersey can keep the momentum up, they’ll make a compelling argument to other states and the nation as to why online gambling should be legalized and regulated.