New Jersey Online Poker Revenues Rebound in October

Posted on November 16th, 2015 by Jon Pineda

 New Jersey online poker Christie

New Jersey online poker revenues recovered in October, and the market seems ripe for fruition as Gov. Chris Christie is expected to defend other emerging gaming platforms including daily fantasy sports. (Image: Charles Krupa/AP)

New Jersey online poker bounced back in October to the tune of $1.9 million, an eight percent jump compared to a month earlier.

Fresh off its worst performance since the state legalized Internet casinos two years ago, iPoker reignited the interest of residents in what was a much-needed rebound.

Online poker isn’t out of the woods just yet, the Borgata Poker/partypoker and WSOP/888poker rooms still down 2.8 percent year-over-year and 21 percent year-to-date.

The eight percent increase for Internet poker represents $142,280 in additional revenues compared to September.

It’s a strong sign for the market as the colder months approach, typically a more robust time for online gaming.

Tide Surges in Atlantic City

The days might be shorter and the freeze inching closer, but online gambling in the Garden State is budding with excitement. Total revenues from all Internet casino operators totaled $12,863,935 in October, a 36 percent increase compared to October 2014.

The flowering of the iGambling market might just be getting started. PokerStars will pump an abundance of excitement and interest into online poker when the world’s largest network initiates operations in the early part of 2016.

During a conference call last week, Amaya CEO David Baazov, parent company to the poker heavyweight, said he expects the network to commence after the New Year but it could happen in January.

Granted a transactional waiver by the New Jersey Division of Gaming Enforcement on September 30, PokerStars and Full Tilt are expected to transform and revamp the trying market.

Sports Betting & DFS

New Jersey online poker also stands to benefit should the state ultimately win its sports betting appeal in the Third Circuit. State officials are appealing a ruling that prevents them from legalizing traditional Las Vegas bookmaking after a three-judge panel declared it violated the Professional and Amateur Sports Protection Act of 1992.

In mid-October, an “en banc” hearing was approved, an action that will bring a majority of the court’s judges to the bench to retry the hearing. Should the panel rule in favor of New Jersey, the additional betting options will presumably bring new gamblers online and perhaps entice some to the poker tables.

Daily fantasy sports (DFS), currently the hottest issue in American gambling, won’t be reviewed in Jersey until the sports betting case is resolved. Granting DFS websites like DraftKings and FanDuel with permission to operate could also bring weary gamblers online.

One thing is for sure, and that’s the fact Governor Chris Christie will do little to outlaw DFS or sports betting. At the Republican presidential debate last month Christie said regarding DFS, “let people play, who cares?”

The governor doubled down on his stance after New York Attorney General Eric Schneiderman declared DFS illegal. “Another crazy economic regulation from a liberal Democrat that we don’t need,” Christie opined last week.

Advocates for online casinos certainly seem to have a friend in New Jersey through Christie. State Senator Ray Lesniak (D-District 20), a champion of iGaming, is hoping to replace Christie in 2017.

New Jersey certainly appears all-in for long-term online gaming.

Comments are closed.