2016 has been a very interesting year indeed for the New Jersey online gambling industry. The industry is all of three years old and it has had a very exciting existence so far. In fact, the just concluded year has been full of exciting and significant events, both for the land based and online gambling industries. This is a good time to review the growth of online gambling in the state. And perhaps get an idea about where it is headed this year.
One of the most interesting features of the 2016 online gambling year has been that international brands have become very popular. PokerStars is a relatively new entity in the market. It is able to contribute between $150,000 and $275,000 to the approximately $2 million that Resorts Atlantic City makes from its online gaming operations every month.
The Launch of New Jersey Online Gambling
This wasn’t always the case. When online gambling was launched in the state at the end of 2013, known brands became immediately successful. There was a lot of speculation about how the land-based casinos would jockey for space in the industry. The situation was indeed free for all as the different casinos teamed up with multiple gaming platform providers to launch a number of brands. In many, many casinos had gaming sites under their own brands in addition to ones that had the brand of their platform provider.
It became immediately clear that players were opting for gaming sites that had the names of local casinos, perhaps on account of increased comfort level with these brands. Besides, companies such as Party Poker were unable to reconnect with customers after a seven-year pause in their operations in the New Jersey market. In any case, people prefer to trust their money to a well-known local brand instead of a disembodied internet-based entity. Online operators will also have to acknowledge that a lot of their problems have originated from the period prior to 2013 when the gambling space was occupied by many fly by night websites. Another important factor is that land based casinos could easily and cost effectively advertise their gaming sites.
New Options Offered by New Jersey Online Gambling Sites
Gamblers in New Jersey also were given a great many exciting new options in 2016. For starters, a land-based casino in Pennsylvania has launched a New Jersey facing gambling site called PlaySugarHouse.com. This licensed website has become very popular in the short time that it has been online. This testifies to the high quality of gaming that it offers. At the same time, the Golden Nugget Casino gaming site also started offering live dealer games. Pala Bingo was also launched in 2016. It has quickly climbed to the top of this segment.
The New Jersey Division of Gaming Enforcement has also been taking the right steps. This is to ensure that regulated operators get a fair playing field. The gaming body has entered into an agreement with leading regulator Kahnawake Gaming Commission. The companies that do not have a New Jersey licence will have restricted access to the market in the state. This will definitely go a long way to ensuring that legitimate and regulated operators will be able to function profitably.
The online gambling market in New Jersey has evidently matured over the past three years. Players are also less loyal to any particular brand. They prefer to move from one site to another depending on what promotional offers or new features are available. The industry is expanding at a very fast pace and it is showing no indication of slowing down. However, operators will have to watch out for the future. The market is too small to allow them to continue growing!