Online poker in the state of New Jersey continues to ride high as the pandemic continues to rage on.
Per the latest figures released by the New Jersey Division of Gaming Enforcement (DGE), the three regulated online poker operators in New Jersey combined to produce nearly $2.4 million in revenue during November 2020 making it the best November in the seven-year history of the market.
In fact, this has been the trend throughout most of this year following the outbreak of the COVID-19 which forced the shutdown of live casinos and led to a surge of interest in online poker.
Online Poker in NJ 2020 Generates Nearly Double Revenue Compared to Last Year
The last nine months (from March to November) have all enjoyed their best months since regulated online poker in the Garden State went live.
Revenues in the state peaked this year between March and July with the market generating between $3 million and $5 million each month over that period. And in October, revenue exceeded $2.5 million.
And though revenue last month fell just short of October, November revenue still represents a substantial growth of 61% year-over-year. In November 2019, online poker sites combined to generate just $1.5 million.
All combined, this year the New Jersey online poker market has already generated a record-breaking $35.7 million, and with still one month to go, it is likely that the market will produce double the $19 million produced last year.
NJ Online Poker Revenue by Network First Eleven Months 2019 vs 2020
|2019||2020||Growth %||Average per Month 2019||Average per Month 2020|
|partypoker US Network||$4,468,665||$8,720,420||95.15%||$406,242||$792,765|
Never before has the market produced over $30 million in a year, yet this record was already broken in September.
The previous record for the most revenue in a calendar year was seen back in 2014 when online poker rooms collected $29 million in revenue.
WSOP.com, PokerStars NJ and partypoker US Network Continues to See Year-Over-Year Growth
All three online poker networks operating in the state are up significantly year-on-year.
The WSOP/888 network, sharing liquidity under the Caesars operating license, is up 55%, PokerStars NJ, operating under Resorts license grew 53%, while partypoker US Network under Borgata grew the most, up 78%.
For the sixth consecutive month, the WSOP/888 network comprising WSOP NJ and 888poker NJ retained the pole position, generating $958k in November, enough to capture 40% of the market.
PokerStars NJ brought in $737k, representing 30.7% a market share – down from 33.5% the previous month.
Partypoker US Network comprising partypoker NJ, BetMGM Poker and Borgata Poker was not too far behind, generating $702k for a market share of 29.3%.
NJ Online Poker Revenue by Network Nov 2019 vs 2020
|Nov 2019||Nov 2020||Growth %|
|partypoker US Network||$393,797||$701,546||78.15%|
Of all three, only the WSOP/888 network showed sequential monthly growth, up from $951k in October to $958k in November. The sequential growth coincided with the $1 million guaranteed Fall Online Championships series and the holiday special promotions towards the end of the month.
Compared to last year, each operator has brought in nearly twice the revenue. WSOP/888 has so far produced $15.2 million versus $8.1 million during the same period last year; PokerStars NJ amassed $11.8 million versus $6.3 million in 2019.
However, partypoker NJ has been the standout. Ever since the operator rebranded its US operations, the network has ramped up promotions in New Jersey, running a tournament series every month. It has thus far reported $8.7 million compared to $4.4 million during the first eleven months in 2019.
What to Expect from the New Jersey Online Poker Market in the Coming Months?
Traditionally, the month of November is considered the lowest point of the year for online poker, and the peak season usually starts in December.
Indeed, December is turning out to be a massive month in New Jersey as the WSOP/888 network just concluded the US leg of the $10K World Series of Poker Main Event that saw a record-setting prize pool of $6.7 million. It also hosted the WSOP Super Circuit Online series.
Partypoker US Network is due to host the WPT Online Poker Open $3500 Main Event on December 27 featuring a staggering $1 million in guaranteed prize money. PokerStars NJ will be running the New Jersey Classic tournament on the same day, guaranteeing a modest $100k.
This is only expected to boost online poker revenues for the month of December which could easily go over $3 million and bring the overall total this year close to $40 million.
Online poker activity is expected to increase further between the months of January and March – which are considered the high points in New Jersey. There is also a chance of Michigan joining the shared liquidity pool with New Jersey once the Wolverine State goes live in the market.
All these trends suggest that the online poker revenues in New Jersey will continue to bring $2 to $3 million every month for the first half of 2021.