Poker revenue in the Keystone State was slightly over $2.5 million for the fourth time in 2021. The state collected almost $2.6 million from poker rooms in July. The increase in revenue could result from WSOP PA entering the Keystone State and introducing several promotions.
The online poker market is stabilizing, barely a year after the coronavirus pandemic shook it. The poker market is stabilizing by looking at revenue generation.
In July, the poker revenue was slightly higher than the previous month. Interestingly, the popularity of online poker rooms in Pennsylvania surged during the pandemic. The industry recorded a high revenue of $5.3 million in April 2020. Four months after, the income was still incredible.
How WSOP PA Entered the Market
WSOP PA entered Pennsylvania with multiple offers to attract the new player. One of these offers was a $50,000 Depositor’s Freeroll. This offer had three major tickets to the $10,000 Main Event at the World Series of Poker slated to happen this fall.
The poker operator then revealed an eight bracelet event in August, exclusively for Pennsylvanian players. The event was a success despite several veteran bracelet winners’ complaints.
Today, WSOP PA is the only interstate online poker network in the country. It has a player pool separate from the WSOP and 888 U.S. Network. The pool comprises players from New Jersey, Nevada, and Delaware.
With the player pool, WSOP has shared liquidity that helps in boosting its popularity and prizes. The poker operator is able to work with a player pool following the Multi-State Internet Gaming Agreement with the three states.
At the moment, Pennsylvania is not a part of the Multi-State Internet Gaming Agreement (MSIGA). It could join the compact or create a new interstate compact with Virginia, Connecticut, and other states. If the state agrees to join the MSIGA, it will increase the WSOP PA player pool, translating to better positioning for WSOP.
Four Transformative Months
PokerStars PA has dominated the poker market in the keystone state since it entered the market in November 2019. The room operates through a license of the Mount Airy Casino. Despite dominating the market regarding market share and revenue, the last few months have been transformative.
It started with Borgata Poker PA and BetMGM Poker PA entering Pennsylvania through River Philadelphia Casino and Hollywood Casino. The two poker rooms have joined to create a player pool operating on partypoker clients to perform better against WSOP and PokerStars.
Since their entry, Borgata and BetMGM do everything possible to get a share of the poker market. They might have succeeded at some point, as evidenced by the time partypoker took PokerStar’s number one position.
With WSOP PA entering the market with a series of promotions, the brand got almost 9.3 percent of the market share. This made the brand the third-biggest online poker room in Pennsylvania.
Who Takes the Second Place?
For now, PokerStars continues to possess the lead position. It has a 76 percent market share, and it generated almost 2 million in revenue in July. This leaves the second spot up for grabs.
BetMGM Poker PA generated $291,000 while Borgata Poker PA got $84,000 in July. Considering the revenue WSOP PA generated in July, $242,000, it might be the competitor for BetMGM Poker PA in a few months.
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