New Jersey Online Poker Down Significantly in August
The coronavirus pandemic continues. It first prompted the shutdown of all casinos in the United States in March. While most casinos reopened to some extent in June, July, or August, Covid-19 continues to lurk and present continual threats. This will prevent casinos from opening to full capacity indefinitely.
Even as casinos reopen, poker games are tough to find in land-based establishments. Along the East Coast of the US, poker players have few options for live poker. However, some of those players benefit from the ability to play online poker on state-regulated sites.
New Jersey is one of those states with regulated online poker and casino games.
After the initial surge in online poker and other casino games in March and April of this year due to the shutdowns, online poker went back to being its unpredictable and unsteady self. While revenue in that sector remains significantly higher than in the last few years, it dropped nearly $2 million from July to August.
That is concerning.
On the other hand, online casino games continued to do well. While the revenue in that area didn’t grow as much as many hoped, the growth was there, and it made up for the online poker dip. Overall, New Jersey internet gaming in August increased from the previous month.
Let’s get to the details of the New Jersey gambling market per the New Jersey Division of Gaming Enforcement’s latest report.
August 2020 Online Poker Revenue
The last several months of online poker have been the roller coaster ride to which poker proponents have become accustomed.
The 2020 growth began from February to March and further in April. It dropped somewhat in May and June but increased in July by more than 36%. Enter August and a significant dip.
–August 2020 online poker win: $3,035,003
–July 2020 online poker win: $4,818,561
–August 2019 online poker win: $1,708,331
—Month-on-month: 37% decrease
—Year-on-year: 77.7% increase
The yearly increases remain significant and keep the sector from being too disappointing.
August 2020 Online Casino Games Revenue
The saving grace for the internet gaming sector, once again, was the online casino game revenue from slots and table games. While growth slowed in the past three months, the trajectory remained in a positive direction.
–August 2020 online casino games win: $84,737,965
–July 2020 online casino games win: $82,674,391
–August 2019 online casino games win: $39,393,256
—Month-on-month: 2.5% increase
—Year-on-year: 115.1% increase
Again, the yearly jumps remain more than a little impressive. As long as the upswing continues, online casino games will continue to carry the igaming sector.
Total Internet Gaming Win for August 2020
As internet gaming revenue grew in 2020, it took center stage in New Jersey this year, especially when the casinos closed and produced no revenue whatsoever. Even as the casinos reopen, albeit at very limited capacities, internet gaming remains a vital part of the overall revenue.
–August 2020 total internet gaming win: $87,772,968
–July 2020 total internet gaming win: $87,492,952
–August 2019 total internet gaming win: $41,101,587
—Month-on-month: 0.32% increase
—Year-on-year: 113.6% increase
Sports Betting in August 2020
Sports wagering remains in a tough spot. Bettors are able to return to betting locations to place their wagers, and they are doing so in solid numbers, but the number of sports on which to bet remains low. The football season only started in September, and many sports are playing shortened schedules or not playing regularly.
Even so, there was a monthly and yearly growth for this sector in August.
–August 2020 sports betting win: $39,507,181
–July 2020 sports betting win: $29,551,987
–August 2019 sports betting win: $25,210,342
—Month-on-month: 33.7% increase
—Year-on-year: 56.7% increase
Total New Jersey Gaming Revenue for August 2020
For the second month in a row, land-based casino gaming revenue increased.
After a devastating four months earlier this year, New Jersey casinos opened their doors again in July and increased their revenue in August. Restrictions continue to limit the amount of growth, especially with table games. However, casinos will presumably take whatever they can get.
–August 2020 total casino win: $199,052,809
–July 2020 total casino win: $147,440,622
–August 2019 total casino win: $286,480,341
–Month-on-month: 35% increase
–Year-on-year: 30.5% decrease
All of this added up to solid growth on a monthly basis. And with the massive increases in online gaming from the previous year, the total revenue number is closer to the 2019 number than it may have thought possible.
If Covid-19 remains under control, New Jersey gambling revenue will continue on the upswing.
–August 2020 total gaming revenue: $326,332,958
–July 2020 total gaming revenue: $264,485,561
–August 2019 total gaming revenue: $352,792,270
–Month-on-month: 23.4% increase
–Year-on-year: 7.5% decrease
New Jersey’s August 2020 gaming revenue fell 7.5% YoY to a total of $326,332,958.
•Slots = $144,112,519 / -30.8%
•Table = $54,940,290 / -29.8%
•Online = $87,772,968 / +113.6%
•Sports = $39,507,181 / +56.7%The state saw a record breaking sports betting handle of $668M. pic.twitter.com/Eqx6fEIAVo
— Just Won One (@JustWonOne) September 14, 2020
