Online poker gaming is readily available in the state of New Jersey as top operators have chosen the state to be their base of operations. From the top poker brand PokerStars to 888 and WSOP, there are many options for poker players located in New Jersey to enjoy the game online for real money wagering. New Jersey is one of only three states in the US that offers iPoker gaming and is the top producer when it comes to revenues. However, for November, the state saw a downturn in revenue earnings, based on information provided by the Division of Gaming Enforcement.
For the month of November, the Division of Gaming Enforcement reported that earnings took a big hit. Operators saw a rake and tournament fee total of $2.1 million for the month which is a decrease of 12.8% when compared to October. This is actually the largest month on month percentage drop for the state’s online poker market since April back in 2014.
The month of October saw nice revenues due to the large tournament series scheduled for the month. This included the New Jersey Championship of Online Poker provided by PokerStars as well as the Garden Gate Super Series which was promoted by Borgata and Party Poker. Both series were a huge success and helped to see the month of October bring in big gains.
For the tournament series hosted in October, the state saw more than $2 million paid out in prize money. In November, there was little to compare to the large tournament offerings. The WSOP did provide an Anniversary series in efforts to celebrate their operations but beside that, there was nothing else really going on for the month.
Promotions were unable to assist with online poker earnings in the state, despite their being many top options offered by online poker sites. PokerStars provided the Card Hunt option while WSOP offered Mega Monster Leaderboards via the multi table tournament section. Gladiator was the option for Party Poker players as well as bonus options for players at WSOP and the Borgata.
Despite the promotional opportunities, the online poker earnings still fell flat. PokerStars saw a drop in revenues for the month by over 18% which was far under the 36% increase for the month of October. Both PartyPoker and Borgata lost around 16% which is what they gained the previous month.
Holding the market share for the month was Resorts/PokerStars with 40% and earning $829,309 for November. Caesars which is the WSOP/888 offering, held a 30% market share and earned $632,459 for the month. Borgata and PartyPoker pulled up the rear with 30% market share as well as $621,874 in earnings.
When compared to November 2015, the online poker sites actually saw an increase in revenues earned. The state was provided a 6.4% increase in year-on-year totals for November. The online poker market is actually improving overall despite the monthly total numbers.
While poker saw a dip, online casino games were up, with an increase over October as well as a 34% increase when compared to November 2015. Online casino games hit the $15 million mark which has only happened one other time before. Operators earned around $800,000 more for November than October with the Golden Nugget representing the largest portion, with 25.2% share. The Borgata followed at 21.1% with the Tropicana at 19.8%, Caesars at 18.1% and Resorts 15.8%.
Online gaming was able to generate just over $17 million for November, creating more than $2.5 million in tax revenues for the state.