2016 Q1 figures of New Jersey based online casinos declared by Division of Gaming Enforcement, New Jersey reveals an increase in earnings for licensed internet based casinos. In fact, the rise in revenue collection has been to the extent of 28% over the corresponding period in 2015. With parameters for growth showing healthy signs, further increase in revenue over the rest of the year is imminent.
The Impact of Online Casinos
While the revenue of New Jersey increased from $35.1 million to $44.9 million dollars during this period, the growth in the revenue from online casinos alone have contributed to about 28%. Roger Gros, an online gambling publisher has concluded that based on this figures, undoubtedly, the future of New Jersey economics is moving in the right direction. Gros has observed that while it took a couple of years for the New Jersey residents to come to terms with the online gaming structure, presently they have taken a big liking to the games and are now fully conversant with the products and services offered by the online casino providers. One important factor for the residents to fully accept these games is that the operators have been proactive in diagnosing and rectifying the irritants like payment windows. All other procedural and technological issues which have surfaced in the online casino games in New Jersey have also been assiduously attended to by the casino operators to instill the confidence of the online casino players.
Unique New Jersey Model
When the New Jersey administration decided to license the online casinos, legislation was drafted to ensure that online games could be provided only by the existing brick and mortar casinos. With door open for online games in New Jersey for the land based casinos, these casinos in turn looked around for the best possible partnerships with the leading software providers. Such a move has had several benefits for the both the stakeholders. For the land based casinos which were steadily sinking in revenue collection this was a great opportunity for revival. The revenue earned through their online operations helped them in sustaining their offline facilities. Thus the introduction of online games through the brick and mortar casinos has prevented retrenchment of employees, which had the potential of escalating the rapid fall of economy.
Model Waiting to be Copied
The success enjoyed by the New Jersey model has evinced keen interest from other states as well, now. It is just not the monetary success of the model, but its hassle free working is what has attracted attention from other states. The close working of the casino operators and their online software providers has ensured that clients signing-in do not face any glitches in any issue, most importantly in banking transactions. The smooth working of the model is certain to bring cheer to the economy of the state in the rest of the year, as existing players continue to sign-in regularly while new players join the online bandwagon, on hearsay.