NJ iPoker Market Steady At 54% Borgata and 45% Caesars, For Now!
November 26, 2015 12:54 pmOn November 25th 2013, New Jersey launched its online gambling industry, and over the past two years revenues have continued to climb steadily. In October, for instance, state iGaming revenues came in at $12,863,935, representing the second largest tally to date, and a huge 35.6% improvement over the $9,484,932 that was generated in the same month last year. For the first 10 months of 2015, New Jersey internet gambling revenues are currently 17.6 percent higher than the same period last year.
While online casino games continue to gain in popularity, the same cannot be said for online poker, unfortunately, whose revenues now account for a mere 14.9% of overall internet business. In fact, October 2015’s revenues of $1,913,403 marks seven consecutive months that the Garden State has been unable to exceed $2 million in revenues.
One thing that hasn’t changed for online poker, however, is the market share commanded by the state’s two main online poker operators, namely the Borgata (PartyPoker/Pala Interactive) and Caesars (WSOP/888). Since the very start, the Borgata has held the upper hand in the battle for market dominance, and as things stand controls a 53.9 percent share of iPoker revenues, compared to the 45.1 percent accounted for by Caesars.
Nevertheless, while the Borgata has never once been surpassed by Caesars in terms of revenues, the margin of separation has only exceeded double digits in just five of the last 22 months. This is in spite of the partial liquidity agreement enacted between 888 and WSOP.com back in January of this year. Part of the reasons explaining its limited impact includes the two site’s consolidated tournament schedule resulting in more players, but less tournaments, as well as 888 subsequently deciding to curtail most of its promotional endeavors, leaving it to the WSOP, instead.
Looking ahead, there is likely to be a dramatic shake-up of the online poker market in the first quarter of 2016, after PokerStars finally launches its product in New Jersey. It will be interesting to see whether the online giant manages to grow the iPoker market, though, rather than just siphon away customers from the Borgata and Caesars.