bwin.party admits that market in New Jersey is 3-4x smaller than expected

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10-14-2014, 01:31 PM
Dan Druff

bwin.party admits that market in New Jersey is 3-4x smaller than expected

Read this interview in BLUFF: http://www.bluff.com/news/bwin-party...e-poker-61398/

Party Poker director Jeffrey Haas was interviewed. A snippet:

Quote:

The underwhelming iGaming revenue figures the state has produced thus far isn’t lost on Haas, as he said bwin.party originally expected the market to be three to four times larger than it actually is.

Haas pointed to payment processing and black market operators as having a role, but he was also willing to take some of the blame for the poor performance, “We need to do a better job in every area,” Haas said. “We need to be better at everything. Every step needs to improve by 1%-4%.”
10-17-2014, 06:53 AM
backdoorb

I think the majority of it has to do with the payment processing. I couldn't believe how difficult it was to get any significant amount of money on a regulated site, its like 3x easier to get money on bovada right now than it is any jersey site.
10-17-2014, 09:07 AM
Steve-O

Quote:

Originally Posted by backdoorb

I think the majority of it has to do with the payment processing. I couldn't believe how difficult it was to get any significant amount of money on a regulated site, its like 3x easier to get money on bovada right now than it is any jersey site.

Disclosing your full social security # doesn't help either.

Still research puts the market cap in NJ at about 2x what it is now. Not sure where they got 3x-4x
10-17-2014, 11:23 AM
herbertstemple

Quote:

Originally Posted by Steve-O

Quote:

Originally Posted by backdoorb

I think the majority of it has to do with the payment processing. I couldn't believe how difficult it was to get any significant amount of money on a regulated site, its like 3x easier to get money on bovada right now than it is any jersey site.

Disclosing your full social security # doesn't help either.

Still research puts the market cap in NJ at about 2x what it is now. Not sure where they got 3x-4x

NJ is sharing tax info with the IRS. No more reporting your ipoker winnings to the IRS via the honor system. Its a lot tougher to make money when the govt gets to wet its beak.