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About nine-tenths of a percent. That was the margin by which the win total for New Jersey online casinos missed tying the state’s current single-month record in July 2024.
The bigger story is that online casinos in New Jersey continue to perform well, as each of the past five months in terms of win totals rank within the state’s top five all-time single months. After just closing out a record fiscal year, the new term is off to a good start.
New Jersey online casinos nearly miss record mark
According to a release from the New Jersey Division of Gaming Enforcement (NJDGE), the state’s 29 reporting online casinos won more than $195.4 million from players during July 2024. That’s the new second-largest total for such gaming in the state for any month.
March 2024’s total of $197.2 million still stands as the state’s single-month best but by less than a percentage point. July 2024’s total is also an improvement of 25.9% compared to July 2023 online casino win.
Whether New Jersey online casinos can keep up a pace of growing year-over-year win by over a quarter in August and beyond remains to be seen. Such totals are the sum of their parts rather than a single entity.
July sees numerous brand bests in New Jersey
During July 2024, 10 of the 29 casinos that reported win totals had their best months since the NJDGE started reporting numbers for individual operators in March 2024. That did not include the market leader for the month, DraftKings Casino, which won almost $41.7 million.
DraftKings’ April win total still stands as its strongest over the past five months but some brands made some big moves. Hard Rock Casino, for instance, crossed $10 million in win for the first time in the past five months.
More important than which brands finished first, second, third, etc. in July is the apps that are churning out consistent numbers month-to-month. Although five months is a small sample size, the leaders in terms of reliability so far are not the same as the market share leaders.
Resorts, Stardust lead consistency
Two of the apps operating in New Jersey top the list in terms of producing win from March through July of 2024 that is the most consistent. Those are Resorts Casino and Stardust Casino.
For example, Resorts’ July win was about $66,00 above its five-month average while Stardust’s July win came in almost $69,000 below that same figure. Some of the most inconsistent brands across that period of time aren’t necessarily dismayed, however.
BetMGM Casino, Fanatics Casino, and Golden Nugget online casino all showed the greatest deviance from their five-month averages in July. In all those cases that deviation was positive, though.
BetMGM’s July total was more than $2.1 million above its average for the past five months as an example. While such growth is great for the brand if it becomes the new normal, there’s something to be said for reliability as well.
Turning in consistent win allows the company behind the apps to standardize operating costs to actually run the app at a profit. It also provides a baseline for the company to test different promotions and app features against.
Showing remarkable consistency over the past five months has been the market for online casino play in New Jersey as a whole. That industry is consistently showing that it has not yet hit its ceiling.
