The United States Online Poker Market Is Stagnating

The current US online poker market is in a state of stagnation caused by limited competition and cross-state restrictions. Nevada, New Jersey, and Delaware currently share an international platform known as 888poker, which enables users to play games as if they were in one central location. This has opened up bigger fields and prizes but it’s not ideal; players cannot access games outside their jurisdiction or participate in national competitions.

The only exception to this is WSOP which, because of its MSIGA status, allows players from those three states to compete against each other. Unfortunately, any bracelet or circuit events held there cannot be participated in by Delaware players due to legal constraints which prevent offering certain events across state lines.

The Booming Overall iGaming Industry

Earlier this year, Michigan joined the Multi-State Internet Gaming Agreement (MSIGA), paving the way for WSOP to expand its presence and for companies like PokerStars and BetMGM to finally connect their poker sites in New Jersey to their counterparts in Michigan. This inter-state agreement is an important milestone in providing convenient access to online casino players in larger states with a much bigger population.

Even though Pennsylvania launched online poker before Michigan, it has yet to sign MSIGA, which would provide reciprocal benefits for both states’ players. Additionally, Connecticut and West Virginia have legalized state-licensed online poker but have not yet signed MSIGA either; due to their limited population sizes, no poker operator has launched a site there yet.

Pennsylvania’s gaming industry increased 5.7% in the last year with sports wagering, online slots, and table games seeing the biggest spurts in activity. Although retail slots, retail tables, and fantasy contests saw a decline last month, the US online casino market still managed to grow by $450M.

Poker Games Are Struggling To Maintain Player Interest

Delaware: October 2022

  • Oct 2022 online poker revenue of $28,495 = down 0.6% from Sept, down 8.7% from Oct 2021
  • Oct 2022 total iGaming revenue of $1,198,520 = down 7% from Sept, up 28.9% from Oct 2021

Michigan: October 2022

Oct 2022 total iGaming revenue of $140,956,282 = up 9.5% from Sept, up 28.5% from Oct 2021

Nevada: October 2022

No information is available to the public about how much revenue online casinos in Nevada are generating, as the state only releases this information when three or more sites are operating.

New Jersey: October 2022

  • Oct 2022 online poker revenue of $2,233,692 = down 1.8% from Sept, down 8.2% from Oct 2021
  • Oct 2022 total iGaming revenue of $147,176,744 = up 8.8% from Sept, up 15.9% from Oct 2021

Pennsylvania: October 2022

  • Oct 2022 online poker revenue of $2,491,217 = down 6.3% from Sept, down 12.7% from Oct 2021
  • Oct 2022 total iGaming revenue of $124,507,915 = up 10.5% from Sept, up 21% from Oct 2021
Real-Money Staff
by Real-Money Staff
November 22, 2022