New Study: New Jersey Online Poker Market Worth up to $92 Million
MUNICH, Oct. 16, 2013 /PRNewswire/ -- The New Jersey online poker market, set to open in November, could be worth between $39 million and $65 million in its first year of operation and $55 million and $92 million in year ten, according to a new report by Academicon and PokerScout.
The researchers analyzed data on 4.6 million real money online poker players in 2009 and 2010, near the peak of unregulated poker in the U.S. They found that 38,100 online poker players in New Jersey spent an average of $765 per year, creating a $29.13 million market. New Jersey players accounted for 3% of U.S. revenue and 0.8% of worldwide revenue in online poker.
Under regulation, online poker is expected to grow well beyond its previous peak. The size of the market will depend strongly on the decision to either limit the player pool to in-state residents and tourists or participate in a federal or international network of players. In a New Jersey-only player pool, revenue is expected to grow from $39 million in the first full year of operations to $65 million in year ten. In an open network, revenue should grow from $65 to $92 million.
Since the crackdown on unregulated poker in April 2011 (Black Friday), U.S. online poker has become a market with little to no supply. New Jersey will be just the second state (after Nevada) to launch regulated online poker, with sites scheduled to open in the Garden State on November 26.
Academicon is a research institution and consultancy, providing advice for regulators with a focus on online gambling. www.academicon.net
PokerScout is a market research company which has been publishing data on the online poker industry since 2006.www.pokerscout.com
SOURCE Academicon GmbH