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Online Gambling in the United States is Slowly Improving

Published: 
2015-06-16 00:00:00

There are currently three states in the United States that offer online gambling, New Jersey, Delaware and Nevada. The early results for online gambling in the United States were poor but things are on the upswing.

The numbers for New Jersey in terms of online gambling a year ago were disappointing as the state took in $122 million. The numbers for 2015 have been better as things slowly begin to improve. Morgan Stanley had an extremely optimistic outlook for online gambling in the U.S. as they had the market at nearly $5 billion by 2020 but those estimates have been revised to an estimate of $2.7 billion.

What will help online gambling in the U.S. are other states getting on board and two states, California and Pennsylvania could be getting close. What will also help are the banks accepting Internet transactions from gaming sites. Many banks are still reluctant to pay attention to transactions that come from online gambling sites in the U.S., even though those transactions are legal. VISA put in some new transaction codes that should make it easier for deposits to be accepted. Some of the New Jersey casinos have seen acceptance rates for credit cards at nearly 50% compared to about 20% when they first started.

There is no doubt that online gambling in the U.S. is making progress, although it is slow.