Nevada, once the gambling capital of the world has fallen behind in both online and offline gambling revenue as a struggling economy, strict gambling laws and a ban on online poker cramped down on its revenues.
However, it during the early part of 2013, the state of Nevada legalized online poker and that market has slowly started to grow. There are a number of online gambling companies who have applied for licenses and are waiting to capture a share of the market. The biggest drawback with online poker in Nevada are the state regulations that require players to be present within Nevada to play online poker.
This restriction means that the online poker player pool is limited, posing a number of limitations for online poker players.
One of the possible solutions to address this challenge is for Nevada to have an online collaboration with the state of New Jersey thereby allowing both states to merge their player pool and give players a more competitive and lucrative online poker experience. The current state laws for Nevada and New Jersey allow both states to form an online collaboration and hence it may not be long before it becomes official.
Ray Lesniak, the New Jersey lawmaker who was the primary sponsor for the Garden State’s bill stated that combining our markets would be a good idea. I think we could make it work. Lesniak believes that a collaboration between the two states will ensure that they dominate the online poker market in the United States, thereby bringing in additional revenue for each state.
Currently, Nevada has a population of around 2.75 million and only has one official online poker site called Ultimate Poker, while New Jersey has a population of around 8.86 million but has no online poker website. New Jersey expects to see its first online poker website go live somewhere in November. The state confirmed that it has a list of 37 applications that are pending approval for launching their online poker websites. Another reason why the Nevada-New Jersey partnership could turn out to be successful is because both states license a large number of the same gaming firms.
Caesars and MGM are the two biggest players in Nevada and New Jersey and a collaboration between the two states will also boost their revenue. MGM’s CEO Jim Murren said that it’s
likely that in 2014 we’ll see a compact between New Jersey and Nevada.