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Online Gambling Numbers in New Jersey, Delaware and Nevada Disappoint

2014-07-15 00:00:00

New Jersey, Delaware and Nevada have legalized online gambling but the revenues from those three states have been disappointing. "Clearly, the results so far have not met our expectations." said New Jersey Treasurer Andrew Sidamon-Eristoff. New Jersey had projected revenues of $180 million by fiscal 2014 but those projections were way off. At the end of May the state had taken in just $9.3 million in revenue.

The situation in Delaware and Nevada is not much better. Delaware was hoping for about $7.5 million in revenue for fiscal 2014 but they will be nowhere near that number. Nevada was smart enough not to put out a projection so they won’t look as bad. "We just didn't feel that it would be wise to put out a number," Nevada State Gaming Control Board analyst Michael Lawton said, "It was just too much unknown."

Part of the problem for the three states is that people still don’t realize they can gamble legally online in those states. Another issue is that the initial rollout of the software in the states was slow and it had bugs.

The good news though is that the future for online gambling in the U.S. is bright as improvements have been made and more big time companies are taking an interest. Online gambling in the United States is here and it will grow, but maybe not as fast as some people expected.