- BetMGM maintains its NJ market lead despite a drop in revenue
- WSOP’s October online bracelet series didn’t have that much market impact
- NJ’s online poker revenue continues to fall
BetMGM has maintained its position as the new online poker market leader in New Jersey (NJ), generating the highest revenue in October, though overall figures are slightly down from last month.
BetMGM’s main rival, WSOP/888poker, failed to regain its status as the dominant player in NJ despite running an online bracelet series throughout most of the month.
BetMGM pulled in over $933,000 in total revenue for October, while WSOP generated $875,000.
BetMGM’s dominance for the last couple of months comes as a bit of a surprise considering that the WSOP played host to a massive online series in conjunction with the live festival at the Rio in Las Vegas. The October online series didn’t have the same market impact as the main domestic bracelet series that the WSOP had hosted back in July, most probably due to the site’s decision to shift to a weekly tournament schedule instead of running events on a daily basis.
NJ Market Continues to Shrink
Meanwhile, the online poker market in NJ has continued to shrink, with revenue dropping 2.4% to $2.4 million in October, the lowest it has been in the last four months. Official data from the New Jersey Division of Gaming Enforcement (NJDGE) also show a year-to-year decline in revenue generated by the three regulated online poker rooms in NJ, with the overall figure down 3.4%, representing a significant slump from 2020 when online poker enjoyed a peak as a result of the COVID-19 pandemic.
Of the three regulated rooms in NJ, WSOP was the only one that saw its revenue increase from last month. The operator’s revenue for October was up 8.7%, though year-to-year, it’s down 8.1% from $952,000.
BetMGM Looking To Maintain Dominant Status
BetMGM’s monthly revenue suffered an 8.6% decline in October but it has remained at the top of the pile for the second straight month. Its October 2021 revenue also represents a whopping 29% year-to-year increase. The operator only brought in $724,000 during the same period last year.
BetMGM is currently running “The End Boss Poker Series” hosted by Darren Elias. The festival could help the operator maintain its status in New Jersey when figures for November are released.