This was supposed to be a landmark time of the year.
Two of the biggest and flourishing legal sports betting industries were supposed to be reaping the rewards of one of the sporting year’s busiest times: March Madness, MLB, the Masters, and postseason pushes for the NBA and NHL.
Yet, we were left wanting. The coronavirus pandemic shut it all down, and all that’s left is what could have been.
That said, online gambling did not completely suffer. Rather, both online casinos and online poker saw an uptick. Last month, industries in both New Jersey and Pennsylvania seemingly compensated despite the lack of sports.
New Jersey online gambling flourishes
Believe it or not, online gambling has been a mainstay in New Jersey for going on seven years. No month, however, has ever been as prosperous as March 2020.
Online casinos and poker operators reported a jaw-dropping $64.8 million in revenue. How big is that? Well, it sits nearly $13 million more than the previous month, for starters. More important, though, that total is the industry’s first month exceeding $60 million. It’s actually nearly $10 million more than the state’s previous best monthly report.
If those feats aren’t enough, March 2020 numbers reflect an astonishing 65.6% increase year over year.
The kicker, though, lies with online poker. Entering March, this sector had not eclipsed $2 million in monthly revenue since August 2017. It hadn’t seen more than $3 million since October 2016. In January 2014, the state enjoyed its best poker month with $3.4 million in revenue.
Do you see where this is going? In March 2020, New Jersey online poker posted a whopping $3.6 million in revenue. Month over month, that’s a 101% spike.
All told, all but one online casino in the state reported record-setting revenue figures in March.
Certainly, these online platforms benefited from stay-at-home orders. Gov. Phil Murphy ordered the closure of Atlantic City casinos midway through the month. When leagues began suspending and canceling events, online casinos and poker filled the void.
PA online gambling shows a similar trend
New Jersey was not alone in rewriting the history books.
Neighboring Pennsylvania was coming off a record-setting February. As the Keystone State nears the anniversary of its first online casinos, the industry put up yet another historic month.
Already trending upward, what with revenues up over 31% month to month since December, operators in March reported some $24.3 million in online revenue, marking a 24.5% increase from February. That total breaks down to a $12.4 million/$8.8 million/$3.1 million slash line for online slots/table games/poker.
It’s not just the revenue that stands out, but also the action. Consider players in Pennsylvania accounted for $871.6 million in total wagers, up nearly $170 million from the previous month. Staggering.
Like in New Jersey, the uptick in Pennsylvania can assuredly be attributed to mass shutdowns. With casinos closing down amid the coronavirus pandemic, overall gambling revenue in Pennsylvania dropped by 51%.