Betfair Poker Ends Operations in New Jersey
On Dec. 1, Betfair officially closed its New Jersey online poker room after failing to penetrate the market.
According to US Poker, this move has no affect on its New Jersey casino site or any of its poker operations in the rest of the world.
The online poker room closing in New Jersey has gone largely unnoticed, considering it posted $0 in revenue during October and raked just $1 in September according to tax returns filed with the New Jersey Division of Gaming Enforcement (NJDGE). Betfair's total New Jersey online poker revenue in 2014 was $50. The poor result followed the $90 in revenues declared in 2013.
While Betfair's New Jersey online poker room failed to attract players, its online casino is alive and well, filing an October win of $855,869 and a $6,677,288 win during the first ten months of 2014.
Betfair Poker NJ originally launched in late Nov. 2013 on the Trump Plaza license. Betfair temporarily partnered with Caesars Interactive after Trump Plaza ceased operations on Sept. 16.
The online gaming operator was granted permission to use the Golden Nugget's license on Nov. 21, with both sites focusing on casino games capturing a combined total of 25 percent of the New Jersey market.
Betfair isn't the only company to run into difficulties in the New Jersey marketplace. Ultimate Gaming, the parent company for Ultimate Poker, left the state after the Trump Taj Mahal Associates LLC filed for bankruptcy in September.
Future of New Jersey Online Poker
With two online poker sites closing, it may seem like doom and gloom in New Jersey. According to the NJDGE, online poker revenues in October were $1,967,904, representing a 5.64-percent decline from the $2,850,295 in revenue reported in September.
This isn't to say things are going horrible in New Jersey, and there are some signs online poker can reverse its backwards spiral. On Sunday, BorgataPoker.com and partypoker NJ combined forces to host a $100,000 guaranteed tournament, which is double the normal guaranteed amount.
The tournament made the guarantee generating a $100,270 prize pool with two players chopping the remaining prize pool for almost $20,000 each.
PokerStars and Full Tilt are expected to join the New Jersey market during 2015 under the Resorts Club Casino, although there is no exact timetable to the Rational Group obtaining approval from the NJDGE after we were initially lead to believe the sites would open in 2014.
Looking to Play Online in New Jersey?
Online Poker in New Jersey is safe and you can read all about the promotions and other important information about BorgataPoker.com, partypoker NJ, WSOP NJ, and 888poker NJ on our New Jersey poker rooms review page.