As the iGaming field braces for rapid expansion, the world of digital betting is experiencing an unprecedented surge. With technological advancements and increasing accessibility, online gambling has transformed into a dynamic and thriving industry.
From virtual casinos to sports betting platforms, the digital landscape offers a multitude of opportunities for gaming enthusiasts.
Get ready to delve into a realm of endless possibilities as the iGaming sector prepares for remarkable growth. Discover the excitement, convenience, and innovation that await in this evolving era of digital betting.
Digital betting has an exponential increase.
Atlantic City, a renowned gambling destination, experienced a decline in revenue from its physical casinos last month. The nine casinos along the shore collectively generated slightly over $227.3 million, marking a 2.4% decrease compared to May 2022, when they earned over $233 million. Retail play significantly declined last month despite having a similar timeframe and holiday weekend.
Borgata secured the top position leading the market with a land-based gaming win of approximately $60.5 million, reflecting a 4.5% loss from May 2022. Hard Rock saw a 6.5% year-over-year drop, winning nearly $38.8 million. In a rare positive development, Ocean Casino ranked third with $29.8 million, representing a 17% improvement.
Tropicana experienced a negligible decline of 0.2%, with a gross gaming revenue (GGR) of $21.6 million. Harrah’s stood at $19 million, down over 10%. Caesars witnessed a nearly 10% decline in in-person income, totaling $18.3 million. Resorts revenue dropped by 5% to $13.4 million, while Bally’s experienced a 4% increase, winning $13.2 million. Golden Nugget commanded the smallest market share, earning just $12.7 million, a 1% drop.
May 2023 marked the second consecutive month of lower in-person play compared to the same period in 2022, with April retail income also down approximately 2%.
The online gambling business is gaining ground.
However, while physical casinos faced challenges, online casino platforms compensated for the losses. The New Jersey Division of Gaming Enforcement (DGE) reported that online slots and table games generated $159.1 million in winnings, while internet poker fees contributed an additional $2.3 million, resulting in an iGaming GGR of approximately $161.4 million for May. This represents an impressive 18.7% surge compared to May 2022.
Sportsbooks also experienced a successful month, with revenue climbing over 33% to $82.1 million. This figure includes retail sportsbooks at Atlantic City casinos, racetrack sportsbooks across New Jersey, and online sports wagering.
In total, New Jersey’s gaming industry generated gross revenue of $420.9 million in May 2023, marking a notable 9.4% increase compared to the same month last year.
James Plousis, chair of the New Jersey Casino Control Commission, emphasized that despite declining brick-and-mortar establishments, May 2023 demonstrated strong performance for the statewide gaming industry. He noted that although Atlantic City’s casino win was lower than the previous year, it was still the city’s second-best May in nine years.
Plousis attributed the industry’s resilience to the robust performance of internet gaming and sports wagering, which have consistently contributed to Atlantic City’s total gaming revenue surpassing $400 million for the third consecutive month.
The year-to-date gross gaming revenue climbed past the $2 billion mark, reaching $2.031 billion after May’s numbers. Plousis highlighted that 2023 stands out as the fastest year in which the state’s gaming industry has surpassed the $2 billion milestone.
The iGamign industry does not stop.
As you can see, there has been a significant shift in the betting industry, with more and more bettors moving towards iGaming options. This is due to several factors, such as convenience, variety of games, and better odds. With the proliferation of smartphones and tablets, it’s now easier than ever for players to place bets on their favorite games from their homes.
As a result of this trend, independent bookmakers who offer a good betting site can benefit greatly. By providing an accessible and user-friendly online platform for customers to place their bets on sports events or casino games, these operators can attract new players and retain existing ones. Additionally, by offering competitive odds and bonuses that are comparable to larger iGaming websites, independent bookies can gain an edge over their competitors.
If you want to create a betting site that is attractive and engaging to punters, Bookies Per Head has everything you need.
This platform provides all the infrastructure and features necessary for creating a premier betting site. With Bookies Per Head, you can offer your clients an experience they will never forget.
The software provided by Bookies Per Head is user-friendly and easy to navigate. It includes customizable templates allowing bookmakers to create unique websites catering to their niche audience. The software also offers mobile compatibility, so bettors can easily place bets on their mobile devices while on the go. Additionally, with its reliable security measures, customers’ personal information will remain safe and secure.
