iGaming limiting damage of NJ casino shutdown
Revenues at iGaming sites have shot up 63.9 per cent to $107.1million in the first two months of 2020.
US.- Revenue generated from online betting is helping to save the gambling industry in New Jersey, where casinos remain closed due to the Coronavirus pandemic.
As many casinos keep their doors closed in gambling capital Atlantic City, punters have switched to online betting and iGaming which is keeping the industry afloat during these unprecedented times.
New Jersey is one of three US states that permit iGaming. On March 16th, Gov. Phil Murphy ordered the state’s retail casinos to close but iGaming was already enjoying a successful start to 2020.
The Washington Examiner reports that revenues at iGaming sites shot up 63.9 per cent to $107.1million in the first two months of 2020.
That figure is expected to jump even higher for the months of March and April because of lockdown measures introduced throughout the country.
New Jersey collects a 15 per cent tax from the gross revenues of online casinos, while retail casino venues operate at 8 per cent for tax revenue.
