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When it comes to revenue, online casino provides the real opportunity. And that opportunity increases greatly when an operator can offer the two products side by side. Locales that offer online Sports Betting in conjunction with online casino have seen the two verticals feed off of one another.
New Jersey provides the shining example.
Through the first half of 2019, NJ Sports Betting revenue has fluctuated between $12.8 million and $24.3 million. Over that same period, online casino/poker revenue has generated no less than $31.7 million — and as much as $39.1 million — with growth hitting historical highs since online Sports Betting was added to the mix.
Sadly, legislatures are ignoring the evidence from the Garden State — not to mention the pleas from their gaming operators.
Case in point: When lawmakers in Connecticut first broached Sports Betting, the state’s two tribes made it abundantly clear that online gambling was a better opportunity. Foxwoods and Mohegan Sun both told the legislature that online casinos were the bigger moneymaker for the tribes and the state alike.
In submitted testimony from March 2018, then-Foxwoods executive Seth Young said this:
Online casino and online Sports Betting only reach their full potential when they’re deployed together.
The bottom line is simple: Online casinos and online Sports Betting go together like peanut butter and jelly.
Once again, the evidence from New Jersey speaks for itself.
Since the inception of online Sports Betting, online casino revenue has accelerated rapidly. The industry was already growing, as the chart shows, but the introduction of NJ online Sports Betting in August 2018 has spawned unprecedented year-over-year growth.
When it comes to revenue, online casino provides the real opportunity. And that opportunity increases greatly when an operator can offer the two products side by side. Locales that offer online Sports Betting in conjunction with online casino have seen the two verticals feed off of one another.
New Jersey provides the shining example.
Through the first half of 2019, NJ Sports Betting revenue has fluctuated between $12.8 million and $24.3 million. Over that same period, online casino/poker revenue has generated no less than $31.7 million — and as much as $39.1 million — with growth hitting historical highs since online Sports Betting was added to the mix.
Sadly, legislatures are ignoring the evidence from the Garden State — not to mention the pleas from their gaming operators.
Case in point: When lawmakers in Connecticut first broached Sports Betting, the state’s two tribes made it abundantly clear that online gambling was a better opportunity. Foxwoods and Mohegan Sun both told the legislature that online casinos were the bigger moneymaker for the tribes and the state alike.
In submitted testimony from March 2018, then-Foxwoods executive Seth Young said this:
“As we see it, the strongest opportunity for the state is in legalizing statewide iGaming, another activity that is currently operating for Connecticut residents in the black market today.”
Young’s counterpart from Mohegan Sun, Avi Alroy, echoed those sentiments in separate testimony:Online casino and online Sports Betting only reach their full potential when they’re deployed together.
The bottom line is simple: Online casinos and online Sports Betting go together like peanut butter and jelly.
Once again, the evidence from New Jersey speaks for itself.
Since the inception of online Sports Betting, online casino revenue has accelerated rapidly. The industry was already growing, as the chart shows, but the introduction of NJ online Sports Betting in August 2018 has spawned unprecedented year-over-year growth.
