Some people thought that online poker login rates reached their peak in 2020 and that once COVID restrictions would lift, online gambling would no longer be as popular. But alas, they were wrong!
The latest reports show how the online gambling market has grown in the past couple of years, and experts believe they won't go down in the near future. Where did online poker do best? And how far can the industry grow in 2022? Let's find out!
Online Poker Revenues
According to reports, online poker revenues in Delaware, New Jersey, Michigan, and Pennsylvania were pretty impressive in December 2021 – ending the year with a bang.
In New Jersey, poker games brought in a revenue of $2.3m in December, a 6.4% rise from the previous month. Pennsylvania also had a good month, raking in $3.1m in revenue, compared to the $2.8m poker operators made in November.
And what about Michigan? Luckily, the Great Lake State is not far behind, as all online gambling options – poker included – brought in $121.7m – which is 14% more than the month before.
Last but not least, Delaware has reported that December was its best month yet when it comes to online gambling. Even though online gambling hasn't been available in the small state, revenues have grown slowly but steadily. In December, online poker brought in a modest sum of $43,069, which is almost 30% more than the previous month.
All this data shows that online gambling revenues are up month-over-month. A tweet by iDEA Growth shows that New Jersey, Pennsylvania, and Michigan have made more than $1B in iGaming revenue and related taxes. And online poker games contributed a substantial amount of cash to the pot!
Poker Market Predictions for 2022
Even though the latest numbers show that the online poker industry has had a great year, it wasn't quite as good as 2020. The New Jersey Division of Gaming Enforcement published a report stating that overall, online poker generated $29.9 million in 2021, while it brought in $38.8 million the year before.
But taking into consideration the fact that 2020 was filled with quarantines and social restrictions, the slight drop in revenues is not bad at all. In fact, many experts believed that once COVID restrictions would ease, online poker would no longer catch the attention of gamblers, therefore reducing online poker revenues by half.
However, people are no longer forced to remain at home, and land-based venues allow most people to participate in games. And yet, online casinos remain popular, showing a lot of promise.
Since COVID is still around and some people prefer to avoid big gatherings, not everyone is in a rush to abandon online venues in favor of live ones. Therefore, if things keep going at this rate, 2022 is going to be quite a productive year for the poker industry.
In Conclusion
Following revenue reports over time can teach us a lot about the state of the gambling market nowadays. From what we've seen of all the 2021 revenue reports across the US, it seems as if the online poker industry has reached a rather steady phase, as cash flows in on a regular basis.
What will the upcoming year bring us? Will the online poker market meet everyone's expectations? Let's wait and see!