Online gambling is growing at rapid speeds, and part of that growth has been that many states across the US are relacing their gambling rules – and looking to the UK for a framework.
Unlike many other countries, the UK has had a long-standing history of gambling is legal and well regulated.
The online gambling, iGaming, industry is expected to grow to 92.9 billion in value in the next few years. This number is almost double what was reported in March 2022.
Of the states that are changing the face of the gambling industry in the US, New Jersey is one of the most significant and more powerful. NJ played a key role in the pivotal overturning of the PASPA.
Essentially enabling states to have control over if and when they introduced sports wagering. This step alone saw NJ’s revenue from online gambling increase exponentially:
June 2018 revenue: $3,458,668
January 2022 revenue: $60,195,902
A move that was more than a little valuable.
What is gambling like in the UK?
The UK has always welcomed casinos and bingo halls, but since the green light was lit on online gambling in 2014, millions more people have started to play. Horse racing, dog racing, and bingo were mainstays of British entertainment – while it’s fairer to say that now poker, blackjack, and slots have taken the lead.
The National Lottery is another place where even people who would not consider themselves gamblers take part – but 30% of Brits play regularly.
Some other interesting statistics are that just under 50% of the population gambles each month, and as an industry, they employ almost 100,000 people.
The UK is considered to be a leader in the gambling industry because they have an infrastructure that is designed to scale.
When it came to its gaming laws, the UK was prudent. Their strategy for gambling is straightforward. All gambling follows the same set of regulations. These regulations were updated in 2014, but ultimately they keep it simple.
Increased internet gambling, also known as remote gambling, has been the cause for the enormous rise of the UK gambling business.
What is gambling like in New Jersey?
New Jersey had a hard battle to get where they are in terms of igaming growth. The overturning o the PASPA was a vital part of it.
Initially, online gambling was restricted due to The Unlawful Internet Gambling Enforcement Act and the Federal Wire Act. However, when bill No. A2578 was passed, which means the ability to authorize licenses for online gambling to be legal in NJ.
Big names in the industry like BetMGM and Golden Nugget were poised and ready to make applications to develop localized websites for the residents of NJ.
You can still consider sports betting to be fairly new in the New Jersey gambling network, but it is one of the most dominant when it comes to gambling and betting.
Why have both UK and NJ residents welcomed online gambling?
We know that both the UK and New Jersey have seen exceptionally high revenue because they have rules that support online gambling and have a well-regulated tax system.
But why have people been so quick to move from land-based casinos to online gambling?
Convenience
While the UK has had access to online casinos for many years, the residents of New Jersey had to wait, go out of state, or find other means to play online. Alternatively, they needed to get dressed up and head out for a few hours. Both UK and NJ residents who enjoy betting and gambling will enjoy the convenience that online gambling brings.
It is important to keep in mind that for new players, online availability means they can explore games and learn at their own pace instead of needing to go to a casino in person.
Bonuses
Unlike land-based casinos, online casinos offer visitors many different promotions and bonuses. Although they will vary between NJ and the UK, there will still be plenty of perks for both sets of residents.
An example of a current promotion on offer by a casino provider targeting the UK market is Party Casino who have a promotion of a 100% welcome bonus up to £250 for all new players, inviting players to their site.
Bonuses and promotions are attractive to players as it means they are going to get more for their money.
Variation
When there are limited amounts of games available in the local New Jersey, online casinos offer so many extra games that residents will be spoiled for choice. You no longer have to wait in line for a slot machine or wait for a seat at a poker table. No matter what you want to play, you can find the game for you. The same applies to UK residents; they are able to find all of the games they enjoy the most online now.
Payment
Online casinos offer all of the most secure options when it comes to adding money to your account. With a casino, you usually turn up with a handful of cash – which poses a danger of its own. However, online, you can open your account and easily top it up using your preferred payment method.
Online casinos usually have many different options – which makes it great for players; from PayPal to bank transfers; it is all possible.
While the UK and NJ are miles apart, New Jersey seems to have taken on a lot of the UK’s framework and attitude towards gambling online. Both see profits that increase year on year and will continue to do so for some time. New Jerseys sports betting is likely to grow even further in the future.
