To say that Nevada online poker numbers have fallen short of projections is a huge understatement. Some analysts had the Nevada internet poker market earning as much as $80 million in first-year revenue. Recent numbers, however, tell a much different story.
From March to April, industry revenue fell from $926,000 to $792,000 – a 14.5% drop. Obviously these aren’t the most encouraging results, and the market is earning about eight times less per month than projected. But with the 2014 World Series of Poker now underway, is a big boost in store for Nevada online poker?
Over 80,000 poker players say yes to Nevada online poker boost
Last year’s WSOP drew 79,471 players and generated over a $197 total prize pool in the 62 bracelet events. Executive Director Ty Stewart foresees even more success for the 2014 WSOP, predicting over $200 million in prize money and that 80,000-plus players will descend on the Rio.
Given that many of these players will be from other states and countries, Nevada online poker should theoretically benefit. After all, these are serious poker players whom we’re talking about. And many of them will be looking to try out Nevada’s legal sites during their free time.
Another point worth adding is that WSOP officials are making concessions for online players. They set up a “Grind Room” in the Rio, where built-in computers, power banks and deposit cages are available. Plus, Tournament Director Jack Eiffel encouraged online play at the live tables by saying, “While players are not in the hand, they still may continue to use their electronic devices and/or smartphones.”
July & August Nevada online poker numbers could show growth
It looks like there are many positive factors that indicate the 2014 WSOP causing a spike in Nevada’s online poker numbers. Unfortunately, we’ll have to wait until the middle of July and August to truly know the impact that the WSOP has.
But it’s hard to envision a scenario where over 80,000 poker players spending weeks in Vegas won’t do something positive for the market. And if this is indeed the case, there’ll be a “WSOP Effect” to look forward to every year in Nevada.