While the Gregorian calendar concludes on December 31st, the poker calendar, humorously referred to as the Gregorich Calendar, wraps up in mid-July. This is when the November Nine is declared, prompting the poker world to collectively exhale and slow its pace.
What better time to examine the State of Poker than in the weeks after the World Series of Poker has concluded?
The State of Live Poker (cash games)
Regrettably, the year has seen a series of poker room shutdowns, and on a larger scale, casino closures. If you’re curious about the experience of sitting in a live poker room, refer to my Foxwoods pseudo-trip-report.
The poker rooms at the M Resort, Riviera, El Cortez, Sunset Station, Palms, and Circus Circus in Las Vegas, and the Revel in New Jersey, have all been closed.
Several new or renovated rooms have also been introduced, such as the WSOP branded room at Bally’s in Atlantic City and Caesars’ new poker room in Las Vegas.
In essence, the prosperity of live poker is contingent on online poker. This means that until a system of legalized online poker is established across the country – from Massachusetts to California, excluding areas like Utah and a few other places – live poker will continue to face challenges in regaining its popularity from the mid-2000s. This lack of resurgence will further result in more poker rooms closing down, replaced by slot machines.
Don’t get me wrong, live poker is performing far better than before the Poker Boom. However, there’s no reason why we can’t transform its current state from just surviving to truly thriving. We want to reach a point where casinos are eager to open poker rooms again. This can be achieved through the ongoing growth of online poker in the US.
The State of Live Poker (tournaments)
At present, tournament poker is under transition as tournament directors and poker tours are grappling to chart out the best strategy for the future. They aim to draw recreational players while still satisfying their core customer base, the grinders.
In the past year, there has been significant experimentation with formats, structures, and buy-in levels as tournament organizers attempt to strike the appropriate balance.
They will have to resolve some of the following ideas:
- Have we reached the end of the $10k Main Events outside of the WSOP and a few major events each year in terms of buy-in amounts?
- The buy-in costs for mid-stakes tournaments need to be decided by the tournament organizers. The options include levels of $500 (as seen in WPT500 at ARIA), the current standard of $1,000-$1,500, or potentially something more substantial like $2,500.
- Are Super High Roller tournaments beneficial or detrimental to the overall poker economy? Can they be sustained? Is it possible that a single scandal could tarnish their reputation and become poker’s next major controversy?
- Some formats, such as reentries, the best stack, and other gimmicks, have been tested with varying degrees of success. For example, the unique five starting flight WPT500 format, where the last flight is a turbo on the morning of Day 2, has been generally well-received. However, other formats, like the “combine your stacks from all starting days”, have been met with more skepticism.
The pressing question now is whether tournament poker will revert to being a loss-leader, or if there is still potential for profit in this highly competitive and oversaturated market?
The State of Online Poker
While online poker encountered obstacles in 2014 due to California and Pennsylvania’s failure to pass an online poker bill, there was a positive aspect as well. Sheldon Adelson’s attempts to ban online gambling yielded no results.
The status of online poker in the US is currently uncertain.
New Jersey, Delaware, and Nevada have been making steady progress, but recent declines have left industry insiders searching for solutions, especially in Delaware where the online poker industry is on the brink of failure.
However, there is hope on the horizon, as Delaware and Nevada are anticipated to initiate their interstate agreement in the upcoming weeks.
The current state of the regulated online poker industry in the US is unsustainable. For the industry to thrive, a greater number of states need to participate and sign more interstate agreements.
The State of Poker Media
Over the past year, the landscape of poker media has undergone significant transformation. The sector has evolved from a charming group of poker aficionados penning their passion for the game on a handful of dedicated websites, to something much more extensive.
In 2014, poker media expanded to include mainstream publications and outlets, broadening their coverage. They now routinely provide editorials, legislative news, and breaking news, in addition to the standard player and tournament reporting. This has introduced a new level of multimedia into the realm of poker media.
If you had suggested to me a year ago that the poker media industry would be in its current state today, I would have found it laughable. However, the introduction of online poker in three states, along with the potential for its emergence in several others, has made individuals who can write about poker and interpret state laws highly sought after.
I believe that poker media will keep evolving and becoming more mainstream. After all, significant revenue in the tens of millions cannot be overlooked by platforms like Boston.com and the New York Times.
