New Jersey Online Poker Shows Life Again in February
After just two months of 2019 internet gaming revenue results for the New Jersey market, it appears that the online poker sector is going to have another rocky year.
Online poker had a rough 2018, showing revenue decreases for most months with occasional increases that barely registered. It wasn’t until January 2019 that it jumped more than six percent from the previous month, and it raised hopes that the worst of times could be over for the little but mighty game. February’s numbers displayed a mixed bag, with a decrease from last month but an increase from the same time last year. The latter is a rarity.
For the entirety of internet gaming, it was another very positive month. As with poker, the revenue didn’t top the past month, but it did jump nearly for the year.
The bottom line is that New Jersey internet gaming remains a very healthy and growing industry.
Any Progress is Good Progress for Online Poker
As mentioned, the month-to-month result for poker isn’t impressive, but the year-on-year increase is a pleasant surprise. Any positive movement for poker is something to be loved and cherished.
–February 2019 win: $1,810,597
–January 2019 win: $1,882,890
–February 2018 win: $1,772,136
—Month-on-month: 3.8% decrease
—Year-on-year: 2.1% increase
The poker sites experience some interesting changes. Borgata and Resorts both saw sizeable yearly decreases, and Resorts showed double the monthly decrease as Borgata. But Caesars was on the upswing, more than 8% from the previous month but more than 44% from the previous year. That growth is likely due to it being the only operator to share player pools with Nevada, in addition to the World Series of Poker schedule being finalized recently and the site beginning to offer satellites and qualifiers. It does demonstrate the power of liquidity.
Online Casino Games Rarely Disappoint
Speaking of rarities, it is not typical that online casino game revenue doesn’t continue a strong upswing from one month to another. The trend has become so commonplace that a dip takes many by surprise. However, one shouldn’t be fooled by a slight monthly decrease, as revenue was still up very substantially from the previous year. That is a trend that is unlikely to stop.
–February 2019 online casino games win: $29,938,129
–January 2019 online casino games win: $31,711,501
–February 2018 online casino games win: $20,219,136
—Month-on-month: 5.6% decrease
—Year-on-year: 48.1% increase
Internet Gaming Remains a Pillar
As usual, the entirety of internet gaming for New Jersey was a net positive in the month of February 2019, delivering more than $31.7 million in revenue, well over double the amount of sports betting revenue. And its gains make the rest of the positive movement of the state’s gambling industry look meager in comparison. In reality, the sum of all New Jersey gaming revenue was up 25.6% year-on-year, a positive trend for an industry that had been suffering record losses in the not-so-distant past.
For all internet gaming in the month of February, the New Jersey Division of Gaming Enforcement reported these numbers:
–February 2019 total internet gaming win: $31,748,726
–January 2019 total internet gaming win: $33,594,391
–February 2018 total internet gaming win: $21,992,124
—Month-on-month: 5.5% decrease
—Year-on-year: 44.4% increase
— Bonus.com (@BonusUpdate) March 13, 2019