News Round-Up as New Jersey iGaming revenue breaks records

As we enter the second quarter of 2024, all signs point to events in the online gambling industry heating up and that it has barely started.

This has certainly been made clear by the fact that the state of New Jersey has smashed its record for internet gambling revenue for the month of March. As such, a total of $526 million was recorded, which is significantly up on figures from a year earlier - an impressive 8.1 per cent in total.

If that wasn’t enough, this figure translated to $1.33 billion of wagers being placed in the month, with the March Madness college basketball tournament understood to have mainly contributed to this.

Despite this though, revenues for land-based Atlantic City casinos in the state fell for the month of March.

Casbit Casino fined by Netherlands Regulator

In other news, the Netherlands regulatory body, Kansspelautoriteit (KSA) has fined the Casbit online casino brand, after it was found to be offering gambling in the country without having a license.

As a result, a fine of €280,000 has been imposed for each week that games continue to be offered, with the maximum amount being €840,000 that can be imposed.

The Dutch market is still relatively new in terms of being regulated, however, it is one of the most admired in the industry in terms of how strict its regulatory body is and its commitment to fair gaming.

Online Gambling participation increasing in Pennsylvania

The continuingly mature market of Pennsylvania in the US has witnessed a positively steady increase in those who are participating in playing online casino games.

Over the last couple of years, the state has seen a great response to having legislation passed and it appears that it is going from strength to strength.

Latest reports illustrate a 30 per cent increase in the state’s online gambling revenue and, as a result, this has shone a good light on Penn’s gambling industry. Last year, the state reported a 27 per cent increase on gambling revenue from the previous year, with the figure being reported at $2.1 billion.

As the year progresses, it is believed that Penn will be a key state in terms of the overall US online gambling industry, especially if predictions for it to become the world’s biggest market very soon, are true.

Netherlands MPs vote for online slot ban

In a return to the Netherlands, it has been revealed that politicians in the country have voted in favour of banning online slots, in addition to prohibiting gambling advertising that is untargeted and unsolicited.

While it was a narrow majority, the vote was presented by the Socialist Party MP Michiel van Nispen, it appeared he argued an eloquent case that got 79 votes.

The argument is that online slots are becoming increasingly dangerous in the country and leading to significant gambling addiction and related problems.