Online Gambling Estimates Cut in New Jersey
ABC News has reported that Morgan Stanley have quite considerably lowered their estimations on exactly what sort of revenue may be created by regulated online gambling in the US. An earlier forecast of $5 billion has now been chopped down to $3.5 billion a sizable shift in expectations. Technical issues and credit card depositing have hampered those states involved and the Wall Street company stated that, "While we remain bullish on the online gaming opportunity in the U.S., we are lowering our estimates to better reflect the insights we have gained following the first few months of operations in New Jersey, Nevada and Delaware." New Jersey has by far the largest population of the 3 states currently offering regulated online gaming and estimates for the first full year of business in the state have been cut dramatically from $541 million down to $203 million.
There's hope that more states move forward with regulated offerings, and that online poker especially can help boost these numbers however with only a handful of states even in the consideration stage at present, that's by no means a given. New Jersey launched online gaming in November 2013 and to date around a quarter of a million accounts have been open, although how many of those are real money active player accounts is not known. Many observers stated from the off that the numbers being served up were very optimistic in the first place and this has proved to be the case. Traffic to offshore online poker rooms such as Bovada where residents of most states are welcomed hasn't been affected by the regulation changes and they continue to do well, however that may change in years to come as larger states such as California may be swung to enter into regulated US gaming.