New Jersey has always been a gambling state, but it seems that the market isn’t as big as many believed it to be. Four major casinos has closed so far this year in New Jersey due to bad results and massive debts and now two of the online poker rooms has also closed, with the first being Ultimate Poker in October and now with Betfair closing down their poker room.
USPoker.com received official confirmation from a Betfair representative that they will close their poker room, but also told them that the casino site will continue to operate as previously. Betfair never managed to get their poker room started, despite advertising the room and offering great promotions, and had less than $200 in rake since it opened in 2013 until it closed.
Betfair will continue to run their casino product, where they have around 25% market share. The product they offer there is very popular amongst the players and the result is a $6.7 million win in the first 10 months of this year, with an expected result of over $7 million.
The closure of Betfair’s poker product will not make any difference for any other sites in New Jersey, as they didn’t have any active players or any revenue. It does however mean that there’s one less site to choose from, which might not be ideal long term.