Legal Online Poker Nj

3/31/2022admin

New Jerseyonline poker generated $2.5 million in revenue during the month of October, according to figures released by the Division of Gaming Enforcement, continuing its record-setting pace in 2020.

October 2020 produced more revenue than any other October in the history of the market. In absolute terms, the last time October exceeded the $2 million mark was 2016 when the market was still experiencing the hype and marketing spend from PokerStars returning to the US online poker scene for the first time since it was forced out by the US government on Black Friday, April 15, 2011.

Legal Online Poker New Jersey

However, the market experienced a 1.4% decline from the revenue figures posted the month prior. The only other time that online poker operators combined to post lower revenue in October than they did in September was in 2014.

Benefits of New Jersey Online Poker Sites. The Garden State caused quite a stir in 2013 when they opened the first regulated online poker rooms. New Jersey was not the first state to open legal online poker sites as both Delaware and Nevada already provided these games. However, New Jersey was the first state with a massive population to allow. Legal online poker in New Jersey serves as a great experiment for other states who are looking into them to see how things will develop and if the value of the industry is worth the bother Home Poker Game Laws in New Jersey Home games are legal. But keep in mind that no one can take a rake or entry fee (other than tournament buy-ins).

In recent years, the revenue figures from September and October have been relatively close with less than a 3% difference between the last month in Q3 and the first in Q4.

Topping the competition once again was WSOP.com, operating as WSOP NJ on the All American Poker Network along with (and powered by) 888poker NJ, bringing in $951,651 from its online tournaments and cash games.

PokerStars reclaimed it status as the second online poker provider in the market, with $842,307 in revenue compared to the rooms on the partypoker US Network which generated $723,816 in October.

In September, partypoker NJ, BetMGM and Borgata Poker collectively jumped into the #2 spot for the first time since April 2018, the month prior to the beginning of online poker liquidity sharing in New Jersey.

In fact, PokerStars was the only operator of the three to post month-on-month growth. The 10% sequential increase coincided with the running of the New Jersey Championship of Online Poker (NJCOOP) on PokerStars NJ, the operator’s big fall tournament series.

Top line figures for NJCOOP demonstrate its success. In total, $1,126,615 in prize money was awarded (exceeding the $1 million series guarantee) with 9743 entries recorded across 54 tournaments.

Where 2020 Ranks for New Jersey Online Poker Revenue

With 2 months of revenue still remaining to be reported, 2020 has already become the highest year on record for online poker revenue in New Jersey.

Through 10 months, New Jersey has generated $33.4 million in revenue from online poker. Prior to this year, the highest full year of revenue was in 2014, the first full year the market was in operation, when the market produced just over $29 million in revenue.

As a point of comparison, online poker produced just under $21 million during the entire year of 2019.

Based on our projections, online poker revenue for all of 2020 is likely to exceed $38 million, and depending on the tournament series and promotions that operators offer in December to capitalize on the hype generated by the announcement that the early stages of the $10k buy-in 2020 WSOP Main Event will take place online during the final month of the year, online poker revenue in the Garden State could reach $40 million.

In recent years, the revenue figures from September and October have been relatively close with less than a 3% difference between the last month in Q3 and the first in Q4.