Many believed that 2014 would be the year that many states across the nation would finally adopt some form of legalized online gambling. With the first three states of Delaware, New Jersey, and Nevada hopping on the bandwagon as quickly as they could get all of their ducks in a row last year, many predicted a domino effect of sorts for this year.
Well, those folks are still waiting. So what happened exactly?
There are several things that have delayed the 7 or so states who are seriously considering legalizing online gambling. While many states see the earnings potential in gambling taxes to be quite impressive, others prefer to wait and see how Delaware, Nevada, and New Jersey work out kinks in regulation and consumer adoption.
There is also much groundwork that must be done prior to legalizing online gambling, which comes at a high price, especially for states that are already struggling financially. On top of that, roadblocks such as credit card companies and financial institutions that refuse to process online gambling payments leave many leery to make the move. However, some states are simply taking their time to create a legalized gambling program that they are comfortable with.
While none of the three states that have legalized online gambling have met their estimated revenue goals, they are still generating millions in revenue. Pennsylvania and California are expected to be the next two states to legalize online gambling, and are already well into the planning and implementation process.
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