For close to 12 months, the number of online casino accounts created at New Jersey’s regulated online gaming sites has settled into a stable and consistent pattern.

This is an interesting development considering that at the beginning of this time period, revenue numbers were on a sharp decline. But recently the amount of revenue generated by New Jersey’s iGaming operators has been rising.

Account creation well over 600k and holding steady

According to the New Jersey Division of Gaming Enforcement (NJ DGE) the total number of accounts created between November 21, 2013 and April 30, 2015 stands at 637,072.

What is extremely interesting about these numbers – and heartening to online gaming advocates – is roughly 100,000 of these accounts have been created over the first four months of 2015 alone, as the official tally of total accounts created as of December 31, 2014 stood at 531,626.

Through December 31, 2014, about 38,500 accounts were created each month.

However, it should be noted that over half of those accounts were created in the first five months, when the industry first launched. From May 2014 through December 2014 new accounts fluctuated between 22,571 (October) and 28,713 (May), and this has continued into 2015.

*Note: I do not have access to the month-by-month breakdown of accounts created beyond December 2014.

NJ online casino revenue numbers point to growth

It’s a positive sign for legal NJ online casinos that over the first four months of 2015, the industry has managed to maintain an average of about 26,500 new accounts each month. It’s an even better sign that revenue has been ticking up during that same timeframe, even though account creation has leveled off.

The recent revenue numbers released by the NJ DGE indicate the industry has reached a point where one of two things is occurring:

1. New accounts offset the attrition rate of current players;

2. And/or, average player spend has increased.

February (which only has 28 days), March, and April of 2015 were the three best months in terms of revenue in New Jersey iGaming history, with total revenue numbers having increased by some 33% since November 2014.

As the chart above shows, account creation followed a fairly similar arc to revenue generated for the following month (the red markers on the revenue line indicate an adjustment for jackpots paid out) up until December of 2014, when the current revenue upswing began.

What we are seeing is a second period of rising revenue, but without the corresponding uptick in accounts created.

This may indicate New Jersey’s iGaming industry has hit a Goldilocks zone of sorts, in which the industry can continue to grow revenue-wise simply by maintaining the status quo.

Qualifiers to account creation numbers

As the DGE has continually pointed out, players are allowed to create accounts at each online gaming site in the state.

So the total number of players who have registered at one of the state’s regulated online gaming sites is likely far less than the number of accounts created. A single player could have as many as  16 iGaming accounts.

Furthermore, the statistic doesn’t take into account closed (by the site or the player) or dormant accounts.