NJ Online Poker Revenue Back Down in February

NJ Online Poker Revenue Back Down in February

The overall New Jersey gambling market remained solid in February 2020. The internet gaming sector as a whole grew significantly – again – as usual, carried by online casino games. And then there was online poker, back to its old ways of decreased revenue.

The New Jersey Division of Gaming Enforcement (DGE) released its February statistics today. The results showed most sectors building on last month’s success, as well as that of the entire past year.

Online poker, however, swung down again as compared to the previous month and year. The familiar story is not a pleasant one for the industry to face, but it is an important part of the New Jersey internet gaming story.

February 2020 Online Poker Revenue

Things were looking up, if only by a slight margin. December 2019 and January 2020 both showcased online poker month-on-month increases. While the January numbers couldn’t muster up a year-on-year increase, the industry was prepared to settle for the monthly win.

The February numbers, however, put online poker back into the dismal shape to which it became accustomed last year. A monthly and yearly loss shows that the market is most certainly in trouble.

–February 2020 online poker win:  $1,796,804

–January 2020 online poker win:  $1,832,211

–February 2019 online poker win:  $1,810,597

Month-on-month:  1.9% decrease

Year-on-year:  0.8% decrease

February 2020 Online Casino Games Revenue

The first month of the new year was online slots and table games draw revenue that increased nearly 68% over the previous year. In February, that increased dropped by a miniscule amount. And the month-on-month revenue actually dropped more than in recent memory.

Even so, this sector of the New Jersey gambling industry continues to bring the overall monthly numbers up every month. It is still the industry’s little but bright shining star.

–February 2020 online casino games win:  $50,190,964

–January 2020 online casino games win:  $53,254,379

–February 2019 online casino games win:  $29,938,129

Month-on-month:  5.8% decrease

Year-on-year:  67.6% increase

Total Internet Gaming Win for February 2020

While online poker keeps hanging on to internet casino games for dear life, the latter made more than enough revenue and increased by such a large percentage that the entire internet sector of the state’s gaming revenue still grew by an astounding 63.7%.

–February 2020 total internet gaming win:  $51,987,768

–January 2020 total internet gaming win:  $55,086,590

–February 2019 total internet gaming win:  $31,748,726

Month-on-month:  5.6% decrease

Year-on-year:  63.7% increase

Sports Betting Blues

The sports betting number can be deceiving. The January 2020 revenue number was massive, growing more than 185% year-on-year. That was primarily due to the season and Super Bowl wagers. February brought the numbers back to reality.

–February 2020 sports betting win:  $17,000,928

–January 2020 sports betting win:  $53,561,626

–February 2019 sports betting win:  $12,732,740

Month-on-month:  68.3% decrease

Year-on-year:  33.5% increase

Total New Jersey Gaming Revenue for February 2020

Though not as impressive as January, New Jersey’s gaming market looked good in February.

–February 2020 total gaming revenue:  $287,305,338

–January 2020 total gaming revenue:  $300,708,538

–February 2019 total gaming revenue:  $241,170,740

–Month-on-month:  4.5% decrease

–Year-on-year:  19.1% increase

 

About Jennifer Newell

Jennifer began writing about poker while working at the World Poker Tour in the mid-2000s. Since then, her freelance writing career has taken her from Los Angeles to Las Vegas and back to her hometown of St. Louis, where she now lives with her two dogs. She continues to follow the poker world as she also launches a new subscription box company and finishes her first novel. Jennifer has written for numerous publications including PokerStars.com and has followed the US poker and gaming market closely for the last 15 years. Follow Jen on Twitter

Disclaimer: The information on this site is my interpretation of the laws as made available online. It is in no way meant to serve as legal advice or instruction. We recommend that you seek legal advice from a licensed attorney for further or official guidance.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles