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Online Gambling News and Notes

2014-09-16 00:00:00

Online gambling has experienced mixed results as far as traffic and revenue as competition is fierce as the world economy remains rather sluggish. And now with states such as Delaware, Nevada, and New Jersey either involved in online gambling and or planning to expand its presence there will continue to be a diluted market and fierce competition that will make for the ultimate consumer driven market with plenty of bonuses and incentives being offered to online gamblers.

New Jersey and Delaware in particular have not gotten the expected boon from online gambling as performance has been sluggish and revenue estimates have been dramatically reduced. Another major problem for New Jersey is that Atlantic City traditional brick and mortar casinos have been wiped out by competition from online gambling and Atlantic City’s lack of imagination and planning in keeping up with the Las Vegas style remake in which world class shopping, dining, and entertainment help offset the sluggish gaming market.

Startup costs are yet another factor that the states may not have taken full account of. Startup costs have proven to be yet another drag on the online gaming related revenue that states were counting on.

Morgan Stanley significantly cut its market projection for US online gaming by at least 30 percent based on what has been learned from the performance of the three states currently involved.

Despite the less the glowing results states such as California, Mississippi, and New York have all introduced legislation to allow for online gambling.