Last Updated on April 19, 2020
It has been a little over a month in the United States with no major professional or college sports. That means the NBA is suspended, there was no March Madness in 2020, the NHL, MLB and many other leagues have been suspended as well. That means sports betting has certainly taken a hit, but another iGaming industry has just begun to boom. The legal online casino industry in America is on the rise. Currently available in just two states (New Jersey and Pennsylvania), many other states would make a terrific decision if they added online casino offerings in their state.
During a time without sports, these casinos have seen massive growth in terms of revenue, which has the potential to dwarf sports betting revenue as far as online gaming goes. Let’s take a deeper look at the growth in the legal online casino space in America.
U.S. Legal Online Casino Growth
|Month||PA Online Casino Revenue||NJ Online Casino Revenue|
|July 2019 (Launch)||$517,712||$39,315,731|
|Total Year-to-Date Casino Revenue||$88,250,443||$550,114,061|
Legal online casinos in America are only in two states for the time being, but expect more and more states to add the offerings as time goes on. As you can see in both New Jersey and Pennsylvania, the online casino growth has been exponential. In Pennsylvania, online casinos opened in July 2019 and did just $518K in the first month. As more and more offerings were launched in the state and awareness grew, so did the revenue. In November 2019, some massive players entered the market in Pennsylvania (FanDuel, etc) and the revenue jumped nearly $6M in one month. Expect that to happen again whenever DraftKings Casino PA is launched. In New Jersey, the revenue has grown consistently since the beginning. With a vast number of options in the state, there are many ways for the Garden State to generate online casino revenue. As of March 2020, New Jersey online casinos generated nearly $65M in revenue.
New Jersey Online Casino Revenue Skyrockets
|Month||Online Casino Revenue|
|Growth over Month||$12,834,135|
In New Jersey, online casino revenue has grown immensely in recent months. From February 2020 to March 2020, there was $12.83M in growth, or just under a 24.7% increase. New Jersey online casinos have been around much longer, so the total number of online casinos is much greater. In addition there is much more awareness in the state of New Jersey for online gambling. Pennsylvania will get there, but for the time being New Jersey is king. Since March 2019 to March 2020, New Jersey saw an increase of $23M in revenue. Of course March 2020 is much different times, but that is terrific growth in a year.
Pennsylvania Online Casino Revenue Grows Again
— Joseph N. DiStefano (@PhillyJoeD) April 17, 2020
|Month||Internet Casino Revenue|
|Growth from February to March||$4,775,005|
Thanks to this chart from PASportsbooks, you can see the growth since December 2019 in the Pennsylvania online casino industry. In just four months, the online casino revenue grew from $10.6M in December to $24.265M in March 2020. Of course there are some other factors that contributed to the March numbers such as the closings of PA casinos due to coronavirus and the suspension of major sports leagues, but growth is growth. For more information on Pennsylvania online casinos, click here.
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