In the last decade, online casinos in New Jersey earned around $7 billion. Also, it paid more than #1 billion in taxes to the state. Online gambling allowed Atlantic City’s casinos to remain in business during the pandemic. Online casinos thrive in six states. However, other states failed to legalize them despite some states having online sportsbooks.
According to sports betting news reports, New Jersey, Delaware, Pennsylvania, West Virginia, and Connecticut are the only states that currently permit gambling in online casinos. Online poker is available in Nevada, but online casino games are not. Rhode Island has approved a measure to legalize online casinos. However, the law will not take effect until March 2024.
According to casino operators, online gambling companies, analysts, and elected officials, there are many reasons why it hasn’t expanded more widely. Some of these reasons include the need to approve sports betting, which is done online in nearly 90% of states, and the (unfounded) fear that internet gambling will attract gamblers away from physical casinos.
Online Casinos Thrive in Six States
Proponents of online casino gambling claim that other states will follow suit soon. This is due, in part, to the fact that states are once again seeking new ways to bring in tax money as a wave of federal financial stimulus funds is winding down.
According to bookie pay per head sources, online gambling stands out as the most profitable income generator from any gaming launch in history. In addition, New Jersey is an excellent example of its success. According to their prediction, dozens of states will soon implement it.
Nevertheless, according to Chris Krafcik, managing director of the gambling analytics firm Eilers & Krejcik, certain states would be reluctant to move forward with online casinos because politicians might see them as a more severe and high-stakes kind of gambling than online sports handicapping. Online behemoths like DraftKings and FanDuel, which dominate over half of the U.S. online gambling business, also play a role.