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U.S. Online Gambling Estimates Lowered

2014-04-01 00:00:00

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.