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Gaming industry research firm GamblingData has released a report in which it claims that internet betting in New Jersey could be worth up to $262 million in its first year and worth $462 million when it reaches maturity.
The optimistic report predicts that internet casino games in the Garden State would generate between 50-60% of the gaming revenue during the initial four year period, with internet poker bringing in the rest of the revenues.
The report's lead author and GamblingData Executive Daniel Stone said, “The disparate ramp-up rates we expect in online casino GGY and online poker GGY reflect what we’ve seen in data from the Italian online gaming market, which we used to inform our forecasts."
“While we expect Atlantic City casinos to steadily capture new online casino customers over the first four years of regulation, we believe the casinos will attract new online poker customers mainly in the first two years of regulation.”
It is expected that gaming industry giants Boyd Gaming and Caesars Entertainment would dominate the majority of the internet betting market, with PokerStars being a potential wild card as it attempts to acquire the Atlantic Club Casino.
The report also reveals that New Jersey may have tipped the scales when it comes to states considering online gambling regulation. Currently ten other states are considering allowing for some kind of online gambling debate, and that number is expected to grow by the end of 2013.
The report's co-author Chris Krafcik said, “Online gaming regulation has really begun to gain momentum at the state level, and I think we’re approaching the tipping point."