The New Jersey Division of Gaming Enforcement (NJDGE) recently published the revenue figures for its online gambling industry. These numbers show that the market has generated 9 percent more revenue in February than it did during the previous month, in spite of February being a shorter month by three days.
The industry has generated a total of $10.3 million, which is 8.9 percent more than its revenue in January. However, the poker revenue has fallen by 10 percent to $3.1 million while the casino revenue has risen by 20 percent to $7.2 million. Players can view the complete report at the official website of the NJDGE.
All the gambling operators in New Jersey reported a rise in revenue figures except the Trump Taj, which has partnered with Ultimate Poker, and the Trump Plaza, which has partnered with Betfair. Tropicana also reported increase in revenue numbers because Virgin Casino was launched.
While checking the figures at the NJDGE website, one must note that the revenue numbers are reported according to license holders. For instance, Caesars and 888.com operate separately in New Jersey as the All American Poker Network (AAPN) and WSOP.com, respectively. But the NJDGE has published revenue figures collectively for Caesars as it holds the license.
The revenue figures clearly indicate that New Jersey’s online gambling industry is booming. The online gambling sites appear to have established control over initial problems such as payment processing thanks to the availability of alternative payment methods such as PaySafeCard for Skrill and Neteller. Acceptance rate for Visa has improved and can improve further if industry and government representatives continue to convince US banks and financial institutions that the laws have changed.
Online poker is likely to generate more interest because the Borgata will host the World Poker Tour (WPT) Championship in April. Geolocation technology and consumer awareness on the latest online gambling services should improve with time.
Simultaneously, the market is likely to face challenges as the weather gets better and players leave their homes to engage in outdoor activities. Since the NJ online gambling industry is new, people are interested in it, but the novelty might wear off any of these days, especially when the media stops focusing on the new market.
Currently, NJ online gambling sites are busy trying to attract new players and retaining loyal ones. However, if players continue complaining about issues related to geolocation, new players will not feel motivated to play online.