With the introduction of regulated online gambling in the United States, well-respected Morgan Stanley recently conducted research, and provided estimates for the growth within the online gambling industry.
With the dismal results of the few states that have legalized online gambling, Morgan Stanley has revised the report they issued in September 2014, Poker Updates confirms.
Initially, Morgan Stanley believed that combined revenue for Internet gambling would reach $5.2 billion by the end of 2020. Now their new estimates are closer to half of that amount at just $2.7 billion.
Not only are traditional casino games not generating the initial revenue expected of them, but even the creative versions of casino games that exist in the online world are not generating the desired results—such as online slots and numerous variations of poker.
Morgan Stanley even revised its prediction of how many states will adopt online gambling. This number has gone from an estimate of 20 states by the end of 2020, down to 15 states by the end of 2020.
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