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
New Jersey sportsbooks overcame a $4.3M loss on the Super Bowl to come out positive in February, though the $17M in revenue was the lowest since June 2019. @BergenBrennan on the most recent numbers, including the dominance of the Meadowlands and FanDuel: https://t.co/CZ1rkM3Psp pic.twitter.com/0N36yF4yGP
— NJ Online Gambling (@NJ_Gambling) March 12, 2020
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
New Jersey’s 2020 February gaming revenue increased 19.1% YoY to a total of $287,305,338.
•Slots = $157,001,379 / +12.5%
•Table = $61,315,263 / +7.3%
•Online = $51,987,768 / +63.7%
•Sports = $17,000,928 / +33.5% pic.twitter.com/e1PLS0yVYF
— Just Won One (@JustWonOne) March 12, 2020