iGB is delighted to publish its fifth e-zine, which delves into five years of data from the US’ leading interstate igaming market of New Jersey.
Despite the relative recency of the advent of regulated sports betting within the state, there is already enough data to draw conclusions about likely growth rates across both product sets.
Stakeholder consensus on the sports betting launch is that performance to date is meeting or marginally ahead of pre-market expectations, with Kambi’s Max Meltzer remarking that some people in the industry are “already talking about ‘when’ rather than ‘if’ New Jersey overtakes Las Vegas as the highest grossing sports betting market.”
With the Nevada sports betting market worth circa $300m in 2018, exclusive forecasts from H2 Gambling Capital featured later in this report suggest new Jersey might be approaching that figure by 2023.
There are caveats to the hope that New Jersey will come to be viewed as the model to follow, with Sportradar’s Jake Williams observing: “Most other states are not set up the way New Jersey is and other states are maybe more likely to be land-based.”
However, online gaming being up and running in NJ for more than four years before the lifting of PASPA puts the Garden State in the box-seat to leverage the digital potential of sports betting, and this means stakeholders across the US will be closely monitoring what New Jersey does and seeing if it works.
Introduction: Off to a flyer
Part 1: Data review
Section i: sports betting
Section ii: gaming
Part 2: Peering into the future
Part 3: Mobile and more