NJ’s Poker Revenue Increase 53% YOY through November
Online poker in New Jersey clocks in a record $35,787,277 million in revenue over the first 11 months of the year, up from $19,020,152 in 2019.
New Jersey Continues with Strong Poker Growth in 2020
New Jersey has achieved phenomenal growth in terms of online poker in the first 11 months of the year compared to the same period in 2019. Overall, the Garden State has clocked in 53.15% more revenue or $35,787,277, up from $19,020,152 a year ago.
The most successful poker network has been WSOP/888 which was clocking in $1,384,030 average per month for a total of $15,224,332 so far this year and an 86.57% overall growth. Next is PokerStars, which has been adding $1,076,139 throughout the first 11 months of the year for a total of $11,837,525.
While partypoker came in third with just $792,765 per month and a total of $8,720,420, the network has been able to pull ahead the most in terms of growth, hitting a 95.15% growth target in the first 11 months of 2020.
Starting in March, New Jersey has clocked in nine consecutive months of growth year-over-year, beating last year’s results so far and likely to retain the market’s strength in 2021. A noticeable spike in traffic began in March, just when lockdown measures rolled in.
Numbers from January and February 2020 were down a fraction year-over-year but abruptly picked up in March, propelling revenue to $4,818,516 compared to $1,886,918.
A New WSOP Event and Plenty of Action
The pandemic has been kind to poker, despite depriving the community of the World Series of Poker (WSOP) at first, only to see WSOP bring back the Main Event, which has just ended in both Europe and the United States.
Admittedly, the new format has ruffled some feathers, as WSOP had to de-throne Bulgarian player Stoyan Madanzhiev after he won what was then thought to be the 51st WSOP Main Event in September, but was later informed it had not been it.
Re-hosting the event though, while unfair to Madanzhiev, was good for the state of New Jersey and the poker community overall. The prize pool reached an all-time high worth $6.7 million.
WSOP/888 hosted the WSOP Super Circuit Online series, which was accessible to New Jersey players, and partypoker has announced the WPT Online Poker Open $3,500 Main Event that will be taking place next Sunday, on December 27.
There is $1 million up for grabs for the event. New Jersey continues to march forward with one of the most developed poker ecosystems and is projected to continue bringing above-average poker revenue to operators, anywhere between $2 million and $3 million.
However, this is still far below the $160 million that the Winning Poker Network, an offshore poker ecosystem, is bringing in monthly.
Mike made his mark on the industry at a young age as a consultant to companies that would grow to become regulators. Now he dedicates his weekdays to his new project a the lead editor of GamblingNews.com, aiming to educate the masses on the latest developments in the gambling circuit.
