Ten Years of NJ Online Poker: Here’s How Much the Market Made in a Decade – Pokerfuse

The New Jersey online poker market marked its decade of operation last month. The first sites opened in November 2013. Since then, they have generated $270 million in revenue.

There have been five sites operational during this time, but only three are active today. The WSOP/888 network, operating under the Caesars license, is the states top contributor. It has reported over $100 million in revenue since it launched, an average monthly rate of $865k.

Following closely behind are the trio on the BetMGM Poker NJ network BetMGM, partypoker, and Borgata. They have reported a combined all-time revenue of $95 million and an average monthly intake of $787k. Both networks have been active in the Garden State since the inception of the online poker market.

PokerStars NJ entered the scene nearly three years later and operates under the Resorts license. It has generated $71.3 million over its 93 months of operation, averaging $767.5k per month.

Ultimate Gaming, in partnership with the Trump Taj license, had a modest run, generating only $562k over ten months before its closure. Betfair, operating under the Trump Plaza license, posted a negligible $140 in its entire online poker revenue, with both sites shutting down within the first year.

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The New Jersey online poker market has experienced a rollercoaster ride over the past decade,

In its inaugural year, spanning November 2013 to October 2014, NJ online poker rooms collectively generated $28.3 million in revenue. Fast forward a decade to the corresponding period from November 2022 to October 2023, and the poker rooms have notched up nearly the same amount, with slightly higher revenues reaching $28.8 million.

However, within this ten-year span, the market witnessed a series of highs and lows. Following its launch, the initial excitement and growth were short-lived. wo networks Ultimate Gaming and Betfair ceased operations within the first 12 months. The second year was markedly lower than the first.

Positive developments emerged when, in January 2015, 888poker NJ and WSOP NJ shared player liquidity on a limited basis. Then the entry of PokerStars in March 2016 sparked a surge of interest in the market. Third-year revenue of $26.3 million beat the prior year.

This boost in online poker revenues proved temporary and it shrank each year over the next four. The period from November 2018 to October 2019 the markets sixth hit an all-time low of $21 million.

A turning point occurred with the onset of the Coronavirus pandemic in 2020, leading to a mini-boom in online poker. Revenue from November 2019 to October 2020 skyrocketed to $36.6 million, marking a nearly 75% increase compared to the previous year and setting an all-time high period that has yet to be repeated.

As the world gradually reopened, the market experienced a decline. It dipped in 2020 and 2021, though never falling back down to prepandemic levels.

Then in its tenth year, the market rebounded yet again. The catalyst for was PokerStars connecting its New Jersey player pool with Michigan on January 1, 2023, allowing the operator to reclaim the top spot with $9.7 million in revenue for 2023.

Today, NJ online poker revenues appear to have circled back to where they began. While the revenue figures may not show consistent linear growth, the overall picture reflects the markets ability to navigate challenges and capitalize on opportunities.

While $270 million may appear substantial, it pales in comparison to the revenues generated by its counterpart NJ online casino. In the span of a decade, NJ online casinos have amassed a staggering total revenue of nearly $7 billion, contributing over $1 billion in state tax revenue.

The online casinos operating under the Golden Nugget license stand out as the primary revenue driver, surpassing $2 billion since the markets inception.

In fact, the most recent data from the New Jersey Division of Gaming Enforcement reveals another record-breaking month for NJ online casinos, collectively yielding $170 million in November. This marks an 18% year-over-year growth, consistently aligning with the upward trend observed over the past two years.

In contrast, NJ online poker sites reported $2.1 million in revenue for the same month, reflecting a 2.4% decline compared to the previous year. Consequently, pokers contribution to the overall igaming revenues in New Jersey remains modest, ranging between 2% to 4%.

Please play responsibly. If you or someone you know has a gambling problem and wants help, call 1-800 GAMBLER.

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Ten Years of NJ Online Poker: Here's How Much the Market Made in a Decade - Pokerfuse