Man Wins $1.5 Million On NJ Online Gaming SitePayout Is The Largest Ever For New Jersey's Industry |
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On Valentine’s Day, a New Jersey man, who has so far been unidentified, won $1.5 million on a single hand of “Let It Ride” on a New Jersey-approved web betting site. According to the Associated Press, it’s the largest online gaming payout in the state’s history—and also likely the most ever awarded from an online gaming site licensed by a U.S. state.
The $1.5 million beat out a $1.3 million New Jersey online gaming payout in November.
New Jersey’s online gaming industry began in late 2013. Nevada’s industry, which is online poker only, began earlier in 2013. Delaware kicked off its online gaming industry around the same time as New Jersey, but sees just a tiny fraction of the revenue generated by New Jersey-facing sites.
The Union County man won the $1.5 million in the variant of poker by hitting a royal flush that paid out 1,000:1. He also played with an extra side bet called 3-Card Bonus.
The hand happened at BetfairCasino.com.
From the AP report:
Betfair said the man wagered $500 on each of his three initial bets, as well as the 3 Card-Bonus, and was dealt a royal flush in diamonds. He won 1,000-to-1 payouts on each of his three $500 initial bets, and an additional 40-to-1 on his $500 3-Card Bonus bet for a straight flush, yielding a total payout of $1,522,000.
Betfair has a deal with the Golden Nugget in order to offer online gaming to those physically present in New Jersey. Not long ago, Betfair announced that it was ceasing its peer-to-peer online poker product, but would keep running other web casino games.
New Jersey had Internet gaming revenue of $122.8 million in 2014, of which $29 million came from peer-to-peer online poker play. Online gaming revenues to start 2015 have been strong.
Existing U.S. online gaming industries face the threat of a federal web gaming ban.
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