Who is to say that online poker websites in New Jersey have been doing well? According to the latest figures published by the New Jersey Division of Gaming Enforcement (DGE), there has been a slight uptick in the earnings of NJ’s gaming operator. However, is this an upswing trend or a temporary fluctuation?
As the DGE report stands, online operators fetched $1,757,839 in June alone, which is a slight increase from the same period last year, or 1.3{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} total. While some may have inched up quietly, others, including Caesars, 88poker and WSOP.com have seen somewhat significant results in their offer.
Caesars – The Leader Who Doesn’t Take No
To say that Caesars has become too complacent with its leadership position is an exaggeration. The operator is continually trying to brush up on its offer and bring up results that matter to its customers and its own finances, of course.
Based on the DGE report, PokerStars and Bovada have been hit insofar as earnings are concerned. This can be explained with the plain fact that the WSOP definitely stole the spotlight during the month. Players from New Jersey and beyond readily flocked to the state and battled for substantial sums, rewarding the efforts of any individual of merit.
Even though June was rather more beneficial for poker as a whole, the annual revenue was still trailing behind the forecasts. This can be explained by the fact that shared liquidity has not yet had time to take off in full and we are yet to experience the benefits from that.
On the other hand, it would be difficult to truly lambast poker during these months, as June and July are generally cited as some of the slower months of the year, despite the WSOP Main Event, which saw some stellar plays transpire. John Cynn managed to clinch the first place in the race.
Admittedly, the tournament was much contested by the likes of Michael Dyer but that did not dissuade Mr Cynn from the true course and he soon had the title.
In Anticipation of Sports Betting
The fact that poker may have been slowing down in terms of revenue may be due to the anticipated legalization of sports betting. The online gaming industry notched up excellent results, bringing its total profit to $20,926,255 in June, which is over 10{c118e36310c7bc75bef8f724f80ee0a52cfaf44be22f7e80906142f4c81518da} greater than the same period last year.
Meanwhile, sports bookies all received good news, getting the greenlight to push ahead with their expansion of activities. This was glad tidings for casinos, too, as they are the sole proprietors of all forms of gambling, including sports betting.
What may follow now is an upsurge in the popularity of all activities of online gambling. Meanwhile, we may have wait for poker to catch up until the dust of passing a legal bill for sports betting settles. As soon as this happens, the likelihood of turning the full attention of all operators on poker is quite significant indeed, even if it’s a less profitable sector for operators themselves.
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