The ability of New Jersey players to participate in World Series of Poker bracelet events led to a spike the state’s July revenue numbers. After a nice month in June, July numbers also looked good but aren’t necessarily a sign of an improved landscape.
Despite those upticks, growth remains elusive according to statistics released Wednesday by the New Jersey Division of Gaming Enforcement. In total, overall revenue from online poker providers jumped from $1.77 million in June to $1.89 million in July.
The WSOP kicked off in May, and that was also a nice month at $1.8 million.
By comparison, that total was $1.67 million in April and $1.9 million in March. So there were some small gains this summer from April, but the revenue outlook continues to vary.
Along with the WSOP action, PokerStarsNJ also held its Summer Series in late July and early August. That may have added some extra players to the July mix as well.
New Jersey online poker revenue
| Online Poker Site | June Revenue | July Revenue | 2019 Total |
|---|---|---|---|
| Borgata Poker | $371,832 | $444,810 | $3.03 million |
| WSOP.com and 888PokerNJ | $861,713 | $815,836 | $5.44 million |
| PokerStarsNJ | $536,633 | $626,272 | $4.27 million |
| Total | $1.77 million | $1.89 million | $12.74 million |
Growing online gambling market
For the most part, the New Jersey online poker market is treading water. Online poker is a pittance compared to the overall online gambling market in the state.
The July poker total is only up slightly from $1.85 million in July 2018. The total online poker revenue for the year at this time last year was $13.86 million. That’s a decrease of $1.12 million – a decrease of 8 percent.
However, the overall gambling market in New Jersey continues to show nice growth. Sports betting has been a major part of that.
In July, iGaming brought in $39.3 million in revenue, compared to $25.9 to the same month in 2018. That’s a massive increase of 51.8 percent and puts the online poker market into perspective. Online poker makes up only 5 percent of July’s total.
When looking at the market as a whole, total gaming revenue (live casinos and online) for July was $334.4 million. That’s a 10.7percent increase from $302.1 million in July 2018.
Overcoming a stagnant online poker market
Nevada online poker may have helped summer statistics in both states with increased players online in Las Vegas. The series ran nine online poker events and also regular non-bracelet WSOP Online Championships.
Combined player pools in New Jersey, Nevada, and Delaware don’t seem to be enough to grow the market. Pennsylvania has already added online gaming, and online poker is expected to go live in the coming months.
With a population of 12.8 million, the Keystone State offers a chance to add to the shared liquidity pool. Of course, that’s barring any additional impact of the Wire Act.
A few other states offer hope. West Virginia has legalized online gaming, including poker, with hopes to go live in 2021. Michigan is considering legalization, but it may take time to produce a bill that could be signed by the governor.
New York has now commissioned a study to look at the impact of online gaming, sports betting, and poker in the state. That process could take some time.
Ultimately, online poker growth has taken a backseat to the explosive growth to sports betting. As more states open the betting windows, that growth could help online poker over time.
Like in Pennsylvania and West Virginia, legislators adding sports betting might also be more amenable to online gaming as well. Poker players can hope that’s a good sign.
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