NEWARK - Betting online isn't just a gamble for the players, it's also risky for the companies who brought internet wagering to New Jersey.

Brian Mattingley, CEO of 888, an online gaming company, says the company has been happy with the results.

Mattingley believes online betting will be popular but is unlikely to reach the $1 billion a year the state of New Jersey is counting on to make up for lost tax dollars from slumping Atlantic City casinos.

"We believe that the market will be in the region of $250 million in its infancy, growing to half a billion probably at maturity," Mattingley says.

Mattingley says his company was eager to get back into New Jersey seven years after online gambling was outlawed. "The consumer in New Jersey had the propensity to spend more than virtually any other state," he says.

Mattingley says it's too soon to tell if New Jersey is still a state of high rollers.

For interview with Brian Mattingley, watch the clip to the left or click News 12 Extra on Optimum TV channel 612.