New Jersey Online Gambling Revenue Hits Record High

New York reported a record-breaking $527.1 million in online sports betting for the week ending November 10, contributing to a total of over $1.085 billion in bets for the month so far, with projections suggesting November may surpass October's $2.3 billion total. Meanwhile, New Jersey's online gambling sector reached an all-time high of $213.6 million in October, marking a 28.1% increase from the previous year and signifying a shift towards online gaming over traditional in-person casinos. Total gaming revenue in New Jersey for October was $499.8 million, a 2.6% increase from the previous year, although physical casinos experienced an 8.5% decline in earnings. The robust growth in New Jersey's internet gaming underscores its importance as a key revenue driver, with online platforms consistently outperforming in-person gambling. Industry experts note that the trend towards online betting is reshaping the gambling landscape in both states, particularly as consumer preferences evolve. As New York and New Jersey continue to set records in online betting, the implications for the future of gambling in these states are significant.