|
The overall New Jersey gaming income from racetracks and casinos reached $404.1 million in December, according to figures from the NJ Office of the Attorney General.
It was a considerable increase from December 2020's $312.9 million. Despite the 29.1% increase, the state's casino income is likely to continue to rise. Internet gambling income increased 33.9% from December 2020 to December 2021.
Many land-based casinos closed their doors as a result of COVID shutdowns. In all corners of the world, online gaming reached an all-time high. New Jersey was the same story. As consumers continue to bet from their home or work computers and mobile devices, it has continually surpassed its previous record of years filled with inconsistencies.
New Jersey was and still is a trailblazer in the gaming industry. In 2018, it made sports and internet betting legal. According to the useful source at iGamingNJ, the state’s economy has profited from the tax revenue since then. The same goes for Michigan, as the state has been setting records and making news for quite some time by now.
Since then, several other states have followed suit and legalized sports and internet betting. The United States is rapidly catching up to European and Asian countries. And the industry is bustling, you can keep up with all of the main developments of online gaming in the state of Michigan by visiting iGaming Michigan, the most reliable source of information when it comes to the gambling industry in the state of Great Lakes.
New Jersey vs Michigan: who really won?
If you are looking for a month-by-month comparison, there is no real point to it, as New Jersey won every single month, but the total difference in revenue between the two states isn’t that big, MI is ahead in terms of growth.
According to revenue figures given by the NJ Division of Gaming Enforcement and the Michigan Gaming Control Board, iGaming establishments in New Jersey made $1.337 billion in revenue during the calendar year of 2021, compared to $1.003 billion in revenue from online casinos in Michigan.
While New Jersey came out on top, Michigan's casino gaming income was impressive given that they just opened their doors in late January 2021, compared to New Jersey, which has been going strong since November 2013. When comparing first-year revenues, Michigan's growth trajectory is much ahead of New Jersey's, indicating enormous potential in the years ahead.
Michigan is the third state to legalize not just online sports betting but also casino gambling from the comfort of one’s home, after New Jersey and Pennsylvania. Last year proved to be a significant year for the US online gambling business, thanks to the successful debut of Michigan in 2021.
DraftKings, Fanduel, Golden Nugget, and BetMGM have dominated revenues when it comes to online gaming in both New Jersey and Michigan. These four brands are the most prevalent gambling operators in the US, producing the lion's share of revenues in both online casinos and sports betting across all legal states.
