New Jersey Gambling Industry Grows 15% in MayThe New Jersey gambling industry saw massive 15% growth in May 2022, and we’re here to look into how it happened, what it means for revenue numbers, and which products in this industry had a noticeable effect on growth.
Highlights & Summary
- DGE announces May 2022 Gaming Revenue Results - Released June 16, 2022.
- According to the latest figures from NJ DGE, the gambling industry has grown by 15.1% since May 2021.
- Slot machines see a 10.5% revenue increase YOY.
- Peer-to-peer (exchange betting) sees a decrease in wins.
- Sports wagering sees an increase in revenue but still less than casinos.
May 2022 Gaming Revenue Results For New Jersey
|Product||Results in $||% Increase YoY|
To better understand revenue increases and industry growth, we investigate the numbers and the finer details below.
Which product had the highest revenue in May 2022?
Slot machines had the highest revenue in May 2022 with $174,322,918.
The Other Games category comes in close with $133,704,900, but note that the category includes all products that fall under ‘other games’, so it is fair to say that no single game came close to slot machines in revenue.
Which product saw the biggest percentage increase in May?
The biggest percentage increase in revenue came from Other Games: a massive 26.4% increase in revenue from the previous year.
However, looking at revenue for just a single product, the biggest percentage increase belongs to Sports Wagering, which saw a substantial increase of 16.4% in revenue.
How did the sports wagering revenue compare to online casino games?
In May 2022, it seems the favorite between online casino games and sports wagering was definitively online casino games.
While sports wagering made $61,594,016 in revenue, online casino games blasted it out of the water with $136,016,462 in revenue.
Did land-based casinos experience a higher revenue in May than internet games?
Land-based casinos did record a higher revenue than online options. Compared to the $136,016,462 of online casino games, land-based casinos came in with $233,023,616.
This difference is quite substantial: almost a $100,000,000 gap. With the rise in popularity of online gambling platforms, this gap may keep closing in favor of internet casino games.
Did retail sports wagering experience a higher revenue than online?
It’s safe to say that retail sports wagering came nowhere near the revenue of online sports wagering. While retail’s handle was $58,042,388, online sports wagering came in far beyond that with a massive handle of $708,369,964.
Which sports categories are experiencing the most betting activity?
With many different sports categories to bet on, you might wonder which has the highest revenue.
Currently, the highest revenue in sports wagering comes from basketball—more than twice the revenue of baseball, which comes second.
Parlay betting far exceeds basketball betting alone, which means that people prefer to bet on more than one sport at a time.
Which casino licensee contributed the most?
The biggest contributor was Borgata with $112,402,459 in total revenue for May 2022.
It’s worth noting that second place had less than half of Borgata: Hard Rock with $48,639,319.
But it does make sense as Borgata currently has 10 NJ online casinos sites using their skin, helping out a lot with the numbers there.
What was the total tax contributed to the state of NJ during May?
Taxation on gambling has different rates depending on the sector: gross revenue tax is at 8%, sports wagering tax is at 8.5%, internet gross revenue tax is at 15%, and internet sports tax is at 13%. With these numbers in mind, the totals were as follows:
- Gross Revenue Tax: $14,929,959
- Sports Wagering Tax: $377,896
- Internet Gross Revenue Tax: $20,401,150
- Internet Sports Wagering Tax: $7,620,121
These numbers bring the total tax contributed to the state of NJ during May 2022 to $43,329,126.
Takeaway on Growth of NJ Gambling Industry in May
As we can clearly see, the industry experienced substantial growth across all sectors, from retail to online, with substantial corresponding tax contributions to the state of New Jersey from gambling.
We hope this insight into the growth of gambling in May 2022 sheds some light on how much money flows through the industry.
Remember, if you’re one of the people putting money into gambling in NJ or in other states, always do so responsibly and know when to walk away.
Resources & Sources
- DGE Announces May 2022 Gaming Revenue Results, NJ Department of Law and Public Safety / Office of the Attorney General, accessed on July 22: