Morgan Stanley Lowers The Estimates Of U.S. Online Gambling By 30 Percent
The exact value of the online gambling market in the U.S. depends on who you ask. As we speak there are only three states offering legal internet gambling but there are at least ten other states actively looking into it.
It is still way too early to foresee the true potential for the U.S internet gambling market. There are still plenty of technical glitches to work out ad there are active campaigns like that of Sheldon Adelson who seek to ban online gambling.
Morgan Stanley has just lowered its previous estimate of the U.S. online gambling market from an estimated $5 billion by 2017 to $3.5 billion. The highly respected Wall Street firm explained their lower estimation was due to worse than expected technical issues. The good news however is that they expect things to turn around and by 2020 the online gambling market will be worth $8 billion.
The largest online gambling market so far is that of New Jersey. Here again the estimates were wild with Gov. Chris Christie being overly optimistic with his $1.2 billion estimation, Morgan Stanley have lowered their $541 million estimation to $203 for the first full year of legal online gambling in the U.S.