New Wire Act Ruling May Benefit Online Poker
Potentially good news for online Poker in the U.S. is the recent overturning of a Trump Administration opinion on the controversial Wire Act by a federal appeals court. What the court’s ruling means for Poker could ultimately lead to more states than only New Jersey, Delaware, and Nevada being permitted to take part in the Multi-State Internet Gaming Association, which allows players from participating states to play and compete online against one another via sites such as WSOP.com.
That states such as Pennsylvania and others have been holding back on joining the association is largely owing to a hesitancy created by the 2018-posting of a review of the Wire Act by the U.S. Department of Justice. Pennsylvania, for one, already in 2017 signed into effect the necessary gaming legislation required to allow it to participate in the multi-state union. It’s only that the opinion posted in 2018 managed to bring back from the ashes a law long accepted as having little to no relevance on the use of comms devices for the transmission of sports betting information across state lines.
Bigger And Stronger Together
According to 888 Holdings Senior VP and Head of U.S. operations, Yaniv Sherman, online Poker last year generated around $38 million in revenue for New Jersey-based licensees. In Pennsylvania, however, even though players have only been able to compete against their fellow Pennsylvanians, online Poker licensees saw $36 million in revenue earned.
If only the player pools in Nevada, Delaware, New Jersey, Michigan, and Pennsylvania were to be combined, said Sherman, the combined pool would already be of a significant size. And since there remains so much room for growth, it’s practically a win-win situation for everyone, he said. Even if only the five mentioned states were to join in the association, this would already see annual net worth to the tune of $200-250 million being generated.
The Future Beckons
Another projection well worth taking into consideration, is that made by market leading analysts such as Morgan Stanley and the likes, which analysts have predicted that the gaming market will be worth at least $10 billion annually by 2025. Sherman said that if Poker were to be allowed to become an active participant in all of that, it could be standing in line for a roughly 10% share, all of which the 888 Holdings group finds rather exciting.
What more movement across more states means to the group, is that it would in such an event be in a position to offer an online Poker experience to players on a national level, said Sherman, which is something the 888 brand finds exceptionally exciting.