It is now stale news that New Jersey’s online poker market was hit by the worst revenue return ever recorded for the month of June. Some UK casino like online casino 10bet was not left out. Various reputable sources had it that while New Jersey’s online casino operations continued to go from strength to strength in June, online poker on the other hand fell off a cliff. Despite concerted effort by online betting giant pokerStars, New Jersey’s online poker market downward spiral continued unabated leading to all time low revenue for the month of June.
On a positive note though, online casino results have remained strong within the period under review thereby acting as a buffer for the troubled poker market. Based on figures posted by the New Jersey Division of Gaming Enforcement (DGE), while online casino winnings were up over 23 percent in comparison with June 2006, online poker raked in its worst revenue haul since the regulated market was established in late 2013. This result was in spite of the advent of new “recreational friendly” games like lottery sit-and-gos, which are designed to boost player engagement, poker brought in just $1,735,634 for the month which was enough to wipe out the previous all-time-low which had been recorded in September 2015. The revenue brought in then was $1,771,123 which was before pokerStars entered the market.
PokerStars entrance in March 2016 was expected to reinvigorate the poker vertical, but apart from an initial short burst of enthusiasm, the online poker giant failed to trigger New Jersey’s poker boom. The highest ever online poker haul was January 2014’s $3,442,271, shortly after the market launched. This is why it is unsurprising that Sen. Raymond Lesniak is on the verge of presenting a bill that aims on globalizing New Jersey’s casino and poker sites.
The bill is set to replace the current legislation drawn up in 2013 which stipulated that servers to New Jersey online poker and casino market must be situated in Atlantic City only. That bill has without doubt served as an impediment to New Jersey’s gambling industry as it cannot compete favorably with other states with more flexible legislation. It is therefore not devoid of reason that Sen. Lesniak, who was equally involved in drafting New Jersey’s Online gambling regulatory framework , is drawing up the bill that will effectively open up New Jersey’s online gambling market to millions of players in other American states and even world over. Pending when the bill becomes law though, operators of the online gambling sites in New Jersey must continue to cope with the current legislation that was supposed to ensure that Atlantic City was the sole beneficiary of the financial largesse from the industry but has ended making them hamstrung in the National.
Author Bio: MikePublisher of 10bet