Pixabay The New Jersey online poker market has been flipped on its head in the past two months with a new market leader in the form of the BetMGM brands.
After more than a year of domination by Caesars and the WSOP / 888poker brands, the partypoker US Network , run by BetMGM with skins on partypoker, Borgata Poker, and BetMGM Poker, took the market lead in September and held on in October .
For the second month in a row, BetMGM found itself on top of the revenue pile in New Jersey. While none of the operators were able to generate $1 million in revenue in Oct, BetMGM came the closest with more than $933k in total revenue.
That was down from the September number of more than $1 million , but it still topped a market that was a bit less than $2.5 million in total . The total market size dropped a tiny bit in October month-on-month, but only by about $60,000, so the difference in the size of the pie was nearly negligible.
It was only the second month in market history with BetMGM on top of the pile, and it comes at something of a surprising time. For much of October, rival WSOP was running an online bracelet series in the market, tied into the first full live World Series of Poker event since 2019 running in Las Vegas.
That bracelet series would normally have given the Caesars brands a huge boost, as seen in July of this year when the main domestic bracelet series ran on the network. However, the October series did not seem to have the same market impact, possibly a result of its weekly, rather than daily, tournament schedule. New Jersey by the Numbers
The total market revenue dropped slightly in October, falling from September’s $2.49 million to $2.43 last month. Of that total, the BetMGM/Borgata brands held on to a bit more than 38%, with Caesars / WSOP growing to 36% of the total market.
The 36% for Caesars does represent a big jump from about 32% in Sept, while BetMGM fell from its […]
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