U.S. Online Gambling Estimates Lowered
April 1, 2014
The U.S. online gambling market is continuing to grow but Morgan
Stanley recently lowered their forecast for the United States market.
Their original forecast had the United States online gambling market
bringing in $5 billion by 2017. That number has been lowered to
$3.5 billion. Even with the lower estimates, Morgan Stanley is still
optimistic on the future of online gambling in the United States.
Morgan Stanley is forecasting an $8 billion dollar market by 2020
for U.S. online gambling. "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," Morgan
Stanley said in a statement.
Morgan Stanley also lowered their estimate for New Jersey’s
online gambling for the first year from $541 million to $203 million.
The main reason for the change was the technology issues that were
causing problems for some of the sites. Those problems are expected
to be resolved and online gambling is expected to increase in New
Jersey as long as the U.S. government doesn’t get in the way.
There have been about a quarter of a million online gambling accounts
created in New Jersey since the state began offering online gambling
to their residents in late November of last year.
