Downswings are always difficult to handle in poker, no matter how seasoned the player. So went the recent downswing in New Jersey online poker revenue. No one believed the poker part of the online gaming industry was going to crash and burn, but the consistent drops in monthly revenue totals were more than a little discouraging.
However, that was only one reason that the March statistics were exciting. Not only did the entire online gambling revenue total increase substantially again from the month of February, but the total poker and casino game number was the highest in New Jersey’s history. The $25.58 million gaming win set a new record for a single month.
Let’s look at all of the good news from the Garden State.
Online Poker Mounts a Comeback
The gambling numbers from the New Jersey Division of Gaming Enforcement were in early for March 2018, and the statistics were welcomed with open arms.
One month does not an upswing make, but online poker jumping nearly $200K from the previous month was a nice surprise. The monthly take is still down from the previous year, but even baby steps are reasons for regulated poker supporters to celebrate at this point.
--March 2018 online poker win: $1,966,366--February 2018 online poker win: $1,772,988--March 2017 online poker win: $2,252,534--Month-on-month: 9.8% increase--Year-on-year: 12.7% decrease
The first climb for online poker since the summer of 2017 is positive, but the trend must continue to give poker players in New Jersey and other states hope for a thriving industry.
Online Gaming Sets New Record
Perhaps it was the refusal of winter to leave the eastern United States that kept players online. Or maybe it was the excitement about online gaming taking root in Pennsylvania. Whatever the reasons, more money was wagered on internet poker and casino games combined in March than ever before.
https://twitter.com/RobertDellaFave/status/984493119688400902
The increases from the previous month and year are equally impressive:
--March 2018 total online gaming win: $25,580,210--February 2018 total online gaming win: $21,992,124--March 2017 total online gaming win: $21,745,431--Month-on-month: 14% increase--Year-on-year: 17.6% increase
Again, online casino games, including slot machines and table games, carried the weight of the win for March. Generating more than $23.6 million and setting the new record, internet casino games are the star of the New Jersey market.
Predicting Spring
This author does not claim to be an expert on the internet gaming industry nor a predictor of the market. However, there are several factors that may keep online gaming – even the poker games – on an upward trajectory as spring continues and summer approaches.
While more favorable temperatures and outdoor activities tend to take players away from their computers in the spring and early summer, there are reasons that many poker players take a different route. Spring online tournament series provide a great deal of value at the tables, and many try to put in extra hours in anticipation of the upcoming live summer events like the World Series of Poker.
If the Nevada-Delaware-New Jersey shared poker liquidity network opens for New Jersey players in the next few months, overall numbers could rise as a result. This would give the WSOP/888 network a boost, as it is the only platform established in all three states, but it will help the overall market as well.
Another revenue rise in April – and even May – is certainly a strong possibility.
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