Great predictions for the U.S. Online Gambling industry
September 23, 2014
Morgan Stanley has predicted incredible revenue for the US online gambling industry that could get to create revenue of $5.2 Billion by the year 2020. The report that Morgan Stanley has released earlier this week is based on the hypothesis that 20 more states would have their markets legalized by the year 2020. But so far, only 3 states, Nevada, New Jersey, and Delaware, have been able to regulate the market without consequences as many other US states, trying to open their online gambling markets as well, are going through a lot of red tape as well as the attacks from social crusaders and organizations that do not see the economy boost for these areas of the US. New Jersey is already making a great progress, collecting more than $100 million in online gaming revenue each year. Nevada is still having difficulties to launch its market successfully as anti-online gambling campaigns are still around the state trying to keep the monopoly of some casino moguls like Sheldon Adelson. Delaware has been able to collect only $240,000.
Morgan Stanley has considered the three states revenues in order for them to create the report. Only from the online gambling market for these three states, the revenue from the US online gambling industry is already $120 million. But with the new interstate online poker networks, the growth can be even faster. Nevada and Delaware are already working their interstate poker network, allowing residents from both states to play anywhere within the states limits. Large poker communities are indeed the helping hand the industry has been looking for all these years; these large groups are pushing the government to, finally and for all, stop the casino tycoons’ monopoly and allow the online market to gets its piece of the cake.
But, of course, the United States of America still has a few congressmen and, specially, state governors that, believe or not, want the online gambling industry banned so the country can go back to the Wild West era with Saloons and Brothels managed by cowboys and Indians. Right now, the gambling states are fighting against the Restoration of the Wire Act that, if it gets to Congress, it will really end all online gambling industry in the US, losing all the expected revenue of $5.2 Billion by the year 2020.