New Jersey Online Poker Revenues Decline But Remain Important
March 18, 2018
The state of New Jersey probably wishes that it was bringing a little more revenue from its legalized online poker operations. At the same time, officials there are just happy that they have this stream of revenue to fall back on when times are tough in general. You see, a lot of other states still have not legalized the game despite massive public interest and budgets that would surely benefit from it.
For the month of February 2018 New Jersey brought in approximately $1.8 million dollars. That is down from the same month last year when revenues were at about $2.2 million dollars. Does this mean that it is now time to panic over the fate of poker in the Garden State? Not by a long shot.
The reality remains that New Jersey is still well ahead of the pack so to speak by just having legalized online poker in the first place. They have shown the rest of the country that you can in fact have a system that allows people to play the game that they want in a more fair environment and allows for the collection of taxes on that money as well.
Other states are set to trying out their own versions of legalized poker in the near future. Pennsylvania is gearing up to have legalized online poker, and others are considering the legislation as well. The new states that are coming on board are also agreeing to an inter-state pact whereby they share player pools and revenues. That could help bring more interest back to the game as people will get more out of playing when there is a large potential audience to play alongside.
All in all, we have to be very excited about the direction that New Jersey is headed with all of this. We can definitely count on the fact that the state is going to continue to lead the way when it comes to showing others how legalized online poker can work for them too. Hopefully they latch on to this lesson and do not concern themselves too much with the temporary decline in revenues.