Just one month after hitting an all-time low in online poker revenue in September, the state of Delaware’s take from poker rake and fees dipped even lower in October.
The online gaming sites operated by Harrington Raceway, Dover Downs and Delaware Park collected $24,030 from the poker tables last month, a 2% drop from the $24,523 in poker rake recorded in September. The new low for ipoker comes at what would otherwise be a joyous time for Delaware, as the two-year anniversary of launching real-money online poker and gambling was celebrated on November 8.
Twenty-four months are in the books and online poker has accounted for revenue of $1,102,712 during that time. That comes to an average of $45,946 every month. However, $45K in poker rake and fees has been reached in only one month out of the last 17 at the three Delaware poker sites combined.
That Was Then
That $45,946 average gets a boost from the months following The First State’s igaming launch in November 2013. In the first seven months of regulated online poker action, $553,934 in revenue was obtained. That’s a monthly average of $79,133.
Apparently, the novelty of playing legalized Internet poker wore off in Delaware after the seventh month when revenue fell to $25,607 in June 2014. In the last 17 months following the initial seven month “honeymoon” phase, online poker revenue comes in at an average of $32,281.
This Is Now
The numbers don’t get much better when analyzing revenue totals since the interstate online poker partnership with WSOP.com in Nevada took effect in late March 2015. It was anticipated that revenue might increase after that collaboration got off the ground even though revenue is not shared with Nevada – only the player pools of each state are combined.
Many thought that more Delaware online poker players would log on and play once the Multi State Internet Gaming Agreement was launched. But in the seven months of shared liquidity with Nevada, $226,431 has been collected in poker rake and fees, an average of $32,347.
Analyzing the numbers a bit closer, we find that online poker revenue has fallen 59% from the first seven months of operation to the last seven months. A bit startling, to say the least.
New Registrations Skyrocket
New player signups were not lagging at the Delaware igaming sites last month. A total of 434 players created new accounts, the largest amount in the last 19 months. But those new players are obviously not clicking their way over to the online poker tables.
Another bright spot was the revenue from video lottery action in October. A total of $109,557 was collected, the best month ever. That makes four months in a row that video lottery revenue has reached new highs, each month surpassing the previous month’s total.