A second online poker boom is in swing, but how long can it last?
Online poker has been one of the most versatile iGaming verticals since the turn of the millennium. What started in 1998 as a unique pastime for the courageous few, turned into an overnight phenomenon in 2003 when Chris Moneymaker earned his historic ‘online rags to land-based riches’ victory at the World Series of Poker.
Now, it’s booming again, but how long can such a resurgence last in today’s evolving market? It’s beyond clear as to why every poker player returned to the virtual felt. What’s not clear is whether it can hold their attention when so many new offerings are coming to market.
Second Online Poker Boom a Renaissance or Temporary Resurgence?
Is this the return of online poker to mainstream iGaming? Or is it just a fleeting fad, brought on by the temporary closure of poker rooms all over the world? The answer to that question teeters precariously upon the fence of how internet poker operators handle this sudden influx of virtual player interest.
When the historic ‘Moneymaker effect’ struck more than fifteen years ago, the industry responded with open arms. Millions of people flocked to the biggest online poker sites. Competition soured, resulting in greater promotional campaigns, expanded tournaments series and multi-million prize pools.
Operators soon realized this was no fad. It was a genuine, global interest in an activity once categorized as a slim niche-market for gamblers. It wasn’t until governments interfered – a necessary evil, so to speak – that internet poker faltered. Most notable was the US Department of Justice’s shut down of the industry’s juggernauts, forcing Americans to quit and driving traffic to all-time lows.
With so many players suddenly missing from the pool, operators could no longer afford to run so many tournaments. The prizes fell, the number of promotions decreased, and before long, operators were faced with a problem. They could continue to cater to the pros, causing more and more casual players to leave the market. Or, they could cater to recreational gamblers, abandoning the pros.
Eventually, they chose their bread-and-butter player pool – the casual gamers. But this meant fewer sponsorships with pros, which diminished their marketing campaigns, and sent many professionals back out into the world to the live poker tables.
Now, as live poker becomes less appealing – at least for the time being – everyone is flocking back to the virtual scene. If online poker operators can respond well enough, with just the right offerings to appeal to both of the major classes – recreational and professional – this second online poker boom could be the renaissance revival the iGaming industry has so long hoped for.
On the other hand, online gambling has spread far beyond its borders of a decade ago. Today, the sports betting scene is exploding like never before, and right behind it is a similar vertical known as eSports betting. Electronic sports have grown more and more popular in the last few years, with over 10 million viewers tuning in to championship events, and as much again in prize money to the industry’s top-tier gamers.
This leaves many variables to question. Can the online poker boom ride the wave long enough to bring in new gamblers from other, more popular verticals, like casinos, sports and eSports? Conversely, might today’s influx of online poker players find their attention drawn to these other iGaming verticals? Will everyone return to the mainstream of land-based gaming as soon as it’s deemed safe to do so? Only time will tell…
