Morgan Stanley, a finance group based in the USA, released the outcome of their latest study concerning the US Online gaming industry. According to the group, the US online gaming market could be worth $5.2 Billion within six years. It is their assumption that if twenty other states offer iGaming, by 2020, the US Online gaming industry will be worth $5.2 Billion, which is actually a lower estimation than previous amounts.
iGaming Tri-States
Currently, there are only three US states that offer online casino or poker. These states are Nevada, Delaware and New Jersey. It is true that the US iGaming industry is quite small but this could change in the near future. It is in the offing that more states are pursuing their gaming licenses and abiding to federal laws and regulations to implement into the market. It is deemed that each joining state will have an impact; the intensity of it is dependent on the type of online gaming it will afford as well as the population size.
Looking Ahead
If California joins the three other states in legalizing online gambling in 2015, online poker is its most likely offering. Morgan Stanley predicts that in the event that California, being the biggest US populated state, joins the iGaming states and decides to open up the market for their own, the online poker market could reach a net worth of $610 million by 2020. Morgan Stanley sees other states following suit. These states are New York, Iowa, Colorado, Pennsylvania and Maryland.
What To Expect
In the next six years, the online gambling community could look forward to each US state streamlining their approach regarding the legalization of online gambling in their state. More and more states are expressing an interest in the adoption of online gaming. If more than 20 new states join Nevada, New Jersey and Delaware, then by the year 2020 the US Online gaming industry’s profit could surpass tribal casinos’ income.
In truth, the predicted numbers released by Morgan Stanley are just a drop in the bucket of the total worth of the online gaming global market. It is expected that the global market will have a growth rate of one-digit percentage point from 2014 up to 2017.
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