Posts Tagged ‘New Jersey online poker’

New Jersey, Delaware & Nevada to Share Online Poker Pools

Sunday, October 15th, 2017

new-jersey-online-pokerNew Jersey has finally agreed to share online poker liquidity with Delaware and Nevada. New Jersey Governor Chris Christie announced the news after agreeing to a poker pact with Nevada Governor Brian Sandoval and Delaware Governor John Carney.

This deal brings hope to the US internet poker landscape, which has gotten off to a slow start. It also gives players in all three states an opportunity to enjoy larger tournaments, cash games, and promotions.

Delaware and Nevada were already sharing online poker pools. However, both states combined only equal one-third of New Jersey’s population. This is why these states will benefit greatly by giving their residents access to the Garden State’s vast poker player pool.

Of course, New Jersey will also benefit from this deal because they’re adding almost another three million people to their iGaming pool.

Governor Christie Happy with the Deal

chris-christie-online-gamblingGovernor Christie is pleased with the new compact and said that it will benefit all sides. Here’s a look at his statement:

“Pooling players with Nevada and Delaware will enhance annual revenue growth, attract new consumers, and create opportunities for players and Internet gaming operators.

“This agreement marks the beginning of a new and exciting chapter for online gaming, and we look forward to working with our partners in Nevada and Delaware in this endeavor.”

Other Potential Results from this Compact

Again, all three states involved in this deal figure to benefit from a larger player pool. But the 12,000,000 people involved in Delaware, New Jersey, and Nevada’s iGaming pact are only a blip on the American radar.

The truth is that US iGaming won’t really get going until more states legalize the activity. This means that places like California, Illinois, New York, and Pennsylvania will need to join the party.

But the compact between Delaware, Nevada, and New Jersey show that progress is happening. Furthermore, this union could convince other states to legalize iGaming in the near future.

New York: The Next Spot for Legal US Online Poker?

Thursday, December 25th, 2014

new-york-online-pokerThe mission to spread legal online poker across America is moving at a snail’s pace. And of the three states that currently have iPoker – Delaware, New Jersey and Nevada – only New Jersey boasts a significant population (8.9 million).

Even still, there’s excitement that a big state could soon throw their hat into the mix. As of now, many hope that California (38.8 million residents) will regulate iPoker next year. But if that doesn’t happen, perhaps New York could be the next to do so.

The Empire State has been in the discussions involving states that are interested in online poker. But the main hurdle to them taking iPoker seriously was deciding who would receive licenses for future upstate brick-and-mortar casinos. Well, the selection process is now over with, so poker will most definitely be on the agenda for 2015.

Speculation is that New York doesn’t want their neighbor, New Jersey, siphoning poker money off their residents who cross the border to play. Furthermore, a study by MGM Resorts showed that New Yorkers spend $110 million per year playing at offshore poker sites. The study also concludes that the state could make between $50 million and $80 million in tax money by offering legal iPoker.

Going back to MGM, they’ve been heavily lobbying the New York government to regulate online poker. And this is quite interesting when one considers that MGM doesn’t currently have an iGaming presence in the US. So it’s likely that they see the profitability in the Empire State and want to get in on the ground floor.

Of course, the biggest boon for the industry will be when larger states form interstate pacts with each other. Sharing players and liquidity would allow for much larger games and tournaments, thus making the online poker market far more lucrative. Unfortunately, it seems like this is still several years away though.

New Jersey Online Poker brings Pro Sports into the Mix

Thursday, January 9th, 2014

Aside from a few scandals (see 1919 Chicago White Sox), there has always been a clear separation between American professional sports teams and gambling. Sure people love to gamble on sports in the United States. But as for a pro sports team aligning itself with a gambling entity, well, that’s usually been a clear no-no over legality/fear issues.

However, the unthinkable has happened after the Philadelphia 76ers and New Jersey Devils signed a deal with bwin.party digital entertainment. Not surprisingly, these are the first two US sports teams to ink such a deal with an online gambling company.

As many poker players know, bwin.party runs the Party Poker site in the legalized and regulated New Jersey online gaming market. Seeing as how the New Jersey-based Party Poker has nothing to do with sports betting, neither the NBA nor NHL have a problem with this deal. So for the first time ever, we may see US professional sports teams promoting gambling sponsors on their uniforms and/or team merchandise.

As for the New Jersey online poker operation, business has been pretty good so far. Nearly 150,000 accounts have already been created, which is quite impressive when you consider that the Garden State has a population of roughly 8.6 million people.

Most Wall Street analysts believe that New Jersey internet poker will generate between $200 million and $300 million in its first year. This is far below the over-inflated predictions made by Governor Chris Christie, who said that he expected $1 billion in revenue by the summer. But it’s definitely a nice piece of the internet poker pie.

Given that New Jersey now has professional sports teams that’ll be advertising for them, their number of players only figures to boost revenue figures even more.

Sheldon Adelson fighting a Losing War against Online Poker

Sunday, December 8th, 2013

By now, many poker players have heard of the war that Sheldon Adelson is waging against online poker. The crusty old man has been trying to spread his message through both the TV and press that online gambling is a terrible thing. His key arguments so far? Internet gaming is more addictive than crack and must be stopped before the entire United States population is craving it.

Right away, many people can see the hypocrisy here. A guy who’s one of the richest casino owners in the world claiming that internet gaming will lead to addiction and drain people’s pockets.

As if this isn’t hypocritical enough, then consider this: one of Adelson’s casinos, The Venetian Las Vegas, advertises mobile gaming on its website. With this nifty little service, you can gamble anywhere on The Venetian’s property as long as you’ve got a smartphone. Maybe I’m missing something here, but isn’t this form of wireless play a little like online poker?

Most correctly speculate that Adelson’s hatred of online gaming stems from his fear that it’ll hurt land-based casino business. So this alone is costing the billionaire a fair share of supporters. But even if Adelson wasn’t just trying to protect his own interests, it’s unlikely that he could win this war.

With each passing month, interest in online gambling grows throughout the United States. Delaware, Nevada and New Jersey already have their operations off the ground. And other states don’t want to be left out of of the equation, so they’re also looking at legalizing internet gaming.

It no longer appears that moral high ground is the issue when it comes to online gambling. Instead, states and their voters think about online poker in terms of tax dollars and improvements to schools and cities.

And as for Adelson’s assertion that cyber gaming costs jobs at brick and mortar casinos, well, European countries such as the UK are reporting a rise in land-based casino revenue ever since online gaming was instituted. What this all adds up to is the likely scenario that Adelson is wasting millions of dollars in a losing effort.