..

New Jersey Governor Christie Backs Away From Online Gambling Forecast

Written by:
Gilbert Horowitz
Published on:
Mar/12/2014
New Jersey Governor Christie Backs Away From Online Gambling Forecast

New Jersey Governor Chris Christie’s aggressive forecast for online gambling revenue was mostly seen as unattainable.  On Tuesday, the Christie Administration backed off those initial projections, relaying its concerns to a leading Democratic leader in the state.

"Given the complex connections between internet and on-site gaming, we do not break down the anticipated total collections between the two sources," state Treasurer Andrew Sidamon-Eristoff wrote in a letter today to Sen. Paul Sarlo (D-Bergen).

Christie had previously predicted that online gambling would result in tax revenues of $180 million in its first year. The governor has had to lower his revenue forecast for the first year of online betting by more than $100 million.

The growth of New Jersey's Internet gambling market slowed somewhat in its third full month of operation, with the Atlantic City gambling websites posting a nearly 9 percent revenue increase in February.

The 16 online gambling sites had posted a 28 percent gain in January, to $9.5 million. In February, the online sites won $10.3 million.

The numbers released Wednesday by the state Division of Gaming Enforcement show the market starting to plateau.

- Gilbert Horowitz, Gambling911.com

Gambling News

Mayfield Trade Impact on the Panthers Odds

Mayfield Trade Impact on the Panthers Odds

BetOnline actually now giving Carolina longer odds following the news.

Running Back Prop Bets for the 2022 Season

Running Back Prop Bets for the 2022 Season

Rushing yards and rushing TDs are available for nearly every RB while a select few also have rushing + receiving yards and TDs props.

Gambling.com Group Brings on Board Dave & Busters CFO

Gambling.com Group Brings on Board Dave & Busters CFO

One of the top sports betting affiliates in the USA market, the Gambling.com Group, has brought on board Michael Quartieri to join its Board of Directors.

Can I Bet the 2022 NHL Draft Online?

Can I Bet the 2022 NHL Draft Online?

Shane Wright is the odds-on favorite to be selected the overall number one pick priced at -340.

Sports Betting Firms Use Helping the Homeless in Likely $100 Million Ad Spend to Woo California Voters

But "California Solutions to Homelessness and Mental Health Act" referendum suggesting legalized gambling will help reduce homelessness may rub some voters the wrong way.

Syndicate