Investment giant Morgan Stanley has cut in half its estimation of the growth of online gambling as well as the long term viability and growth of American online gambling. Morgan Stanley predicted the market would be worth around $2.7 billion by the year 2020 which is now half what it originally estimated in September of 2014. In addition to that glum forecast Morgan Stanley predicted that the online gambling market would be worth about $410 in the year 2017 which is more than a 50 percent drop from original projections just six months prior.
Morgan Stanley has been disappointed in the sluggish figures from Delaware, Nevada, and New Jersey which have all had a negative ripple effect on investor’s long term confidence in online gambling. Morgan Stanley had originally projected that the three states would haul in close to $700 million but the actual figure was a paltry $135 million instead.
The big elephant in the room as far as online gambling in the United States remains payment processing. The payment processing issue has been a continuing online gambling roadblock in the United States since 2006. Morgan Stanley also blamed poor advertising and the strong offshore gambling market.
Perhaps an even bigger problem for the prospects of online gambling in the United States has been too much government involvement. Governments have made the American online gambling experience often as thrilling as a trip to the Department of Motor Vehicles or the Post Office.
All in all American online gambling has a long way to go.
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