Sports betting and iGaming set new records in New Jersey in November. Bookie pay per head experts attributed the milestone to the players becoming less dependent on brick-and-mortar casinos.
According to DiscountPayPerHead.com sources, casinos and their technology partners earned over $171.5 million from online table games and slots in November. Players also placed a record $1.62 billion in sports wagers at three horse races and casinos.
Technology and new betting options are changing how NJ gamblers bet since land-based casinos were the primary venue.
New Records in New Jersey
Jane Bokunewicz, head of Stockton University’s Lloyd Levenson Institute, stated that around 45% of Atlantic City’s November revenue came from sports and online betting. Instead of competing with physical casinos, she sees online gambling as a complementary addition.
The impact of sports and online betting on casino profitability is uncertain. Partners must share in the income streams, not just casinos. Casinos make the majority of their money from live players, which is why this is their main source of revenue.
Furthermore, that crucial industry is still falling short of pre-pandemic levels. Only Hard Rock and the Ocean Casino resort out of the nine casinos in New Jersey made more money from live players in November of this year than in November of 2019, just before the epidemic struck.
Total earnings in November from in-person, online, and sports betting at three racetracks and casinos combined were $482.4 million, up 9.4% YoY. With less dependence on physical casinos, it is the best time to learn how to become a bookie in the state.
