Experts Say Online Gambling Has ‘Potential’ [AUDIO]
The state's foray into online gambling is off to a slow start, but experts believe it could have big potential.
Figures show Borgata Hotel Casino & Spa and Caesars Interactive accounted for the bulk of the revenue, totaling $6.1 million of the $8.4 million that was taken in by the state's internet gambling sites in the last five weeks of 2013.
Roger Gros, publisher of Global Gaming Business Magazine, said Borgata's Party Poker and Caesars' World Series of Poker brands gave them an advantage in the industry.
"That shows they were prepared and they have the best brands," Gros said.
However, Gros said other names will soon join New Jersey's online gambling marketplace, notably MGM and Winn Resorts, who will launch under the Borgata and Caesars brands.
"If PokerStars can ever get its act together in how they're going to restructure their company, they're the big brand worldwide, so if they're able to participate in New Jersey, they'll steal some market share," Gros said.
Gros said online gaming could have bigger potential in the state, provided many of the initial problems with the online user experience can be resolved.
"There are still problems with depositing the money that you want to deposit to play, you can't use credit cards, people are reluctant to link to their bank accounts," Gros said. "They've got to figure out how to make it easy to go online, rather than filling out all these forms and having to verify where you are every 10 minutes."