New Jersey iGaming Grows but Not Online Poker
The title of this article could be almost any given month in the past several years. New Jersey online casino games revenue increases consistently from month to month, while online poker struggles.
The statistics from the New Jersey Division of Gaming Enforcement for October 2020 fit squarely into that pattern. Revenue from online slots and table games increased, and online poker decreased, albeit only slightly this month.
On the bright side, all internet gaming numbers improved year-on-year. The coronavirus pandemic and resulting closure of all land-based gambling options in March 2020 sent all internet gaming numbers soaring. And while online casino games continued that upward trajectory, online poker enjoyed a few months before sliding downward again. Poker remains more than 50% up from 2019.
In fact, only land-based casinos saw a decrease year-on-year. Of course, one can easily attribute that to the pandemic-required limitations. But the numbers remain solid in notably unpredictable year.
October 2020 Online Poker Revenue
It could be worse. That isn’t a very positive tagline, but it is true. New Jersey’s online poker sector has experienced a roller coaster year. After the height of its success in March and April, there were two months of decreases, an increase in July, and then a 37% drop in August. September’s drop of less than 16% wasn’t so terrible.
October’s decrease was even more palatable, as much as a downswing can be.
–October 2020 online poker win: $2,517,774
–September 2020 online poker win: $2,554,216
–October 2019 online poker win: $1,640,329
—Month-on-month: 1.4% decrease
—Year-on-year: 53.5% increase
With a second wave of the pandemic in full swing, it remains to be seen if New Jersey officials will reduce the capacity of land-based casinos. If this happens, online poker may surge a bit before the end of the year.
October 2020 Online Casino Games Revenue
The story for online slots and table games remains an uplifting one. Even after commercial casinos reopened this summer, online casino games remained popular. Revenue climbed nearly each month and continues to hold more than 100% higher than the previous year.
Last month’s growth for this sector was only 0.4%, but this month’s growth was more significant.
–October 2020 online casino games win: $90,933,749
–September 2020 online casino games win: $85,079,481
–October 2019 online casino games win: $43,574,226
—Month-on-month: 6.9% increase
—Year-on-year: 108.7% increase
There is no reason to expect anything but continued growth in this sector. And with the possibility of fewer customers in land-based casinos in the coming months due to Covid-19 concerns, numbers could soar even higher than expected to close out an impressive year.
Total Internet Gaming Win for October 2020
As usual, online casino games carried the internet gaming sector. Online poker losses didn’t drag the overall numbers down much in October, so it was an overall good showing for internet gaming.
–October 2020 total internet gaming win: $93,451,523
–September 2020 total internet gaming win: $87,633,697
–October 2019 total internet gaming win: $45,214,555
—Month-on-month: 6.64% increase
—Year-on-year: 106.7% increase
Again, the sector will continue to grow and pad New Jersey’s gambling revenue when casinos remain strained under the weight of the pandemic.
Sports Betting in October 2020
Since professional sports returned after the initial coronavirus-mandated stoppage, the sports betting sector has been on the rise again. While last month’s increase was 14.1% and lower than in the past months, October’s numbers showed a bigger monthly increase.
–October 2020 sports betting win: $58,508,647
–September 2020 sports betting win: $45,083,178
–October 2019 sports betting win: $46,393,537
—Month-on-month: 29.8% increase
—Year-on-year: 26.1% increase
As long as sports leagues continue to play, wagering will grow. This seems like a fairly solid bet.
Total New Jersey Gaming Revenue for October 2020
Overall total gaming revenue increased significantly from September to October. The year-on-year numbers even show a year-on-year increase of 15%. Despite the effects of the pandemic, internet wagering and sports betting have added crucial revenue to the state’s coffers in 2020.
–October 2020 total gaming revenue: $338,070,879
–September 2020 total gaming revenue: $323,289,671
–October 2019 total gaming revenue: $293,865,890
–Month-on-month: 9.3% increase
–Year-on-year: 15% increase
Coronavirus will continue to affect the gambling revenue in New Jersey for many months to come. It could be late 2021 or even 2022 before land-based casino revenue normalizes. Meanwhile, internet gaming and sports wagering keep the industry afloat and thriving.