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New Jersey online poker registers a fall despite the sports betting boom


New Jersey online poker registers a fall despite the sports betting boom

Studies show that New Jersey online poker revenue took a dip in November despite an overall boom in earnings for the state's operators.

Published last week, the latest set of financials show a surge of 24.7 percent on-year takings for the state's live casinos. Talking about the gaming revenues, they were up to a worth for $257.4 million which is more than $206.4 million generated in November 2017. Although the sports gambling has shown a remarkable boost, poker has suffered a jolt. The Supreme Court scrapped the Professional and Amateur Act (PASPA) in July and since then, the revenue of sports betting has grown steadily. After PASPA, the state has witnessed more than $40 million being taken as wagers.

Reports suggest the sports wager earned $21, 243, 865 accounting for twice as much of the amount generated $11,686,119 banked in October. This however, has impacted online poker in an adverse manner. This trend has defied the analysis of experts who were of the opinion that online poker would also register growth if sports betting gets legalized in the United States of America. In Europe, many operators have said that they plan to integrate their verticals and this has improve the trends. The operators are expected to come up with some strategies to improve the position of poker in the industry.