New Jersey’s online gambling market has seen a very positive growth since its inception in November of 2013. And last year saw it expand even more, with an increase of 25% as far as gross gaming revenue (GGR) is concerned. This saw total income from such surpass the $770 million level by the end of 2017.
Looking at the bigger picture though, it seems as though revenue increases in this area have been from the online casino gaming sector primarily. It’s a bit of a blow to the online poker market of the state, which has been fairly consistent at bringing in lower numbers of gamers for above a year now. Of course, this is little to do with the poker players within the state, but instead more so to do with the operators of such. However, whatever the case may be as far as this goes, gamers within the United States have seen their hopes for a thriving and exciting online poker sector die out with the appearance of each monthly revenue report.
There may be some light at the end of the tunnel though, as some analysts have been predicting a big upsurge for 2018. According to them, a vast turnaround between online casino gaming and online poker play is expected to occur, seeing a slowdown in the former and a pick up in the latter.
Why 2018 Could Be the Year for Online Poker
It is thought that the New Jersey GGR for 2018 will land at around $271.9 million, bringing the lifetime total of the state to $994.3 million. This works as a 10.7% overall growth, with online poker expected to take a leap upwards of 11.8% year-on-year. Meanwhile, online casino gaming is expected to increase by 10.6%.
However, why would analysts believe that such figures will come true this year? Well, it’s a common mindset that the market is actually reaching its maturity. Therefore, many feel that it does not have the ability to continue climbing at the speed and level that it has over the last couple of years. Furthermore, analysts also believe that online operators will become somewhat more apathetic, with more time and focus placed on the neighbouring state of Pennsylvania. Of course, this state is aiming to launch its online casino and gaming sites this year.
Now, why would this be great for the online poker sector? Well, it all comes down to the interstate poker liquidity network. This is set to incorporate New Jersey in 2018, becoming the third state to join. It already incorporates the states of Delaware and Nevada, so once New Jersey successfully involves itself in the upcoming months, shared liquidity should boost the level of online poker game play.
From this, New Jersey’s market will witness growth, with new brands also expected to open there. Additionally, it’s also expected that new formats will begin taking shape, such as live dealer offerings. Furthermore, if sports betting becomes legal (an outcome of the current discussions by the US Supreme Court is expected this spring), analysts predict that this will work in New Jersey’s favour too.
