Study: Online Gambling Falling Short of Economic Promises in New Jersey
• New research finds online gambling expansion in NJ has not provided expected economic boost, could actually be detrimental
• $2.4B spent on online gambling in NJ in 2022 estimated to have decreased economic activity by $180M
• Online gambling contributed $385M in state taxes in 2022, but estimated $350M in social costs from problem gambling
• Industry advocates claim online gambling creates jobs and tax revenue, but new report finds other industries would provide more economic benefit
• Questions raised about whether states have legalized online gambling based on overly optimistic forecasts about economic impacts