WSOP PA is the latest poker operator to enter the Pennsylvania online market, going live on July 14, 2021. The brand has quickly established some room in the state with several promotional moves. One of the significant promotions contributing to WSOP PA growth is the Penn-specific online bracelet series.
This series increased WSOP’s market share from 9.5 percent to 25 percent. WSOP PA earned $242,000 in July, which jumped to $819,000 in August. The arrival and performance of the brand have propelled Pennsylvania’s market value by 23 percent, increasing gross income from online poker to $3.2 million last month.
Still, PokerStars PA continues to dominate the market share, contributing to $2.9 million of revenue generated in August. But, WSOP has climbed from the bottom to the second spot, thanks to the PA bracelet series it ran.
Looking at the trend, WSOP PA spells competition for PokerStars PA. The latter brand has reigned in the Pennsylvania market for months. With WSOP PA entering the market, PokerStars PA’s market share has dropped from 76 percent in July to 60 percent in August.
WSOP PA Came in Ready to Take Over the Market
Pokerstars entered Pennsylvania in March 2021 without any competition. Already, the brand was dominating in several other markets at the time. But, WSOP had goals to take over PokerStars’ market.
The brand started with a new Poker 8 software. Thus, Pennsylvania was the first market to test the new and improved poker platform.
Shortly after, the brand announced its first promotion, the first-ever state-specific online bracelet series. This featured eight events, with eight Pennsylvanians having a chance to win coveted gold bracelets. The event could have contributed hugely to the success of WSOP in August.
There was no guarantee for any of the events. But, the introduction of state-specific bracelet series stirred significant interest in the poker player community.
Entry fees to various events ranged from $400 to $1000, with the higher roller event going for $3200. This made it possible for amateurs and pro poker players to participate in the tournament.
Will WSOP PA Market Share Stick to the Growth Trend?
WSOP PA might have had a good start in a new market with special events such as online bracelets and circuit series. However, the question of whether the company will maintain its growth remains unanswered.
The brand’s cash game data shows that WSOP is struggling to bring in traffic. For example, data from GameIntel shows that during the online bracelet schedule, WSOP recorded an average of 30 players per time. On the other hand, PokerStars boasts 230 players per time.
Online tournaments are something WSOP excels at. But, having a solid base of cash games is crucial to building a brand’s constant source of income as they are not limited to time frames.
Having not attracted a cash game player base during the online bracelet event is questionable. It means players flocked to the site for the online tournament and nothing else. If nothing improves, WSOP could face several problems.
Unless the brand runs a tournament incentivizing players to stick for cash games, WSOP might drop from the second position. But, considering it is WSOP, it is not likely that it will fail.
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