A New Jersey online casino has made headlines with a huge $70,000 payout off a one-cent stake.
Key takeaways
- Hard Rock’s Big Sunday Jackpot paid out a $70,000 prize
- Other online casinos are launching products as summer begins
- New Jersey’s online casino revenue still growing
As sports wagering enters a hibernation period, where a reduction of important games leads to smaller handle, online casinos are trying to fill the gap.
Gamers in the Garden State have seen a growth in gambling opportunities through New Jersey's online casinos.
Caesars announced live dealer games for their online platform on April 1, Fanatics launched their own iGaming app on May 2 with the promotional benefits that come with a new product, and Hard Rock is celebrating its “Big Sunday Jackpot” within its app.
Big Sunday Jackpot promotion guarantees a $50,000 prize, or larger, every Sunday and this week the winner only needed one cent.
“Big Sunday Jackpot is the understatement of the week, as we just saw a 7,000,000x return off a penny wager. Jackpot Season really is for everyone, where you can win big even on the smallest of bets,” said Grant Williams, Hard Rock Digital’s SVP of Casino.
While the window for a massive payout is between noon and 10pm ET each Sunday, four of the five winners hit their spin after 6:30pm.
New Jersey’s iCasino market is quite strong
New Jersey is one of the most progressive states when it comes to gambling, they were one of the first launch sports betting and iGaming.
Their high population and relatively low tax burden has enticed tons of operators. When you look at the numbers it's no surprise why legislators are hesitant to greenlight such a profitable industry.
The eight online casinos in the Garden State reported $235.2 million in winnings last month, a 25% year-over-year increase. In comparison, sports betting revenue that same month was just over $90 million, a nearly 15% year-over-year decline.
