New Jersey Online Gambling Revenue Back on Track
After experiencing decline in revenue last month, New Jersey online poker is now picking up its record-setting pace in 2020.
According to figures released by the Division of Gaming Enforcement, the state’s online poker market generated $2.5 million in revenue during the month of October.
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 in 2016 when there was excitement and marketing spend from PokerStars coming back to the US online poker scene for the first time since it was taken down by the US government on Black Friday, April 15, 2011.
However, the market experienced a 1.4% decline from the revenue figures posted the month prior. The only other time that online poker operators collectively had lower revenue in October than they did in September was in 2014.
In recent years, the revenue figures from September and October have been relatively similar with less than a 3% difference between the last month in Q3 and the first in Q4.
Coming on top once again was WSOP.com, operating as WSOP NJ on the All American Poker Network along with (and powered by) 888poker NJ, delivering $951,651 from its online tournaments and cash games.
PokerStars reclaimed its 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 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.
The big NJCOOP numbers 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.
There are still 2 months of revenue left to be reported. Despite that, 2020 has already become the highest year on record for online poker revenue in New Jersey.
