To motivate the company's decision to slash the value of the online gambling market there is also the risk that a nationwide online gambling ban could cancel the progresses made so far in Nevada, New Jersey, and Delaware — the only states that have successfully regulated online gambling. That represents a small market with a lot of potential. Image courtesy of Fox Business. Talented, intelligent and passionate people have made Morgan Stanley the firm it is today. A party promoter who became an advocate for clean water in impoverished communities around the world shares insights on how to embrace our better selves by helping others. Take eager volunteers, add state-of-the-art equipment, plenty of hard work and a lot of fun. The more gamblers it has only at any given time, the more events and options it can offer.
That projected spike in revenue in the Garden State may cause other states to rethink their online gambling regulation leanings. Should PokerStars indeed be responsible for New Jersey revenue to skyrocket as Morgan Stanley suggests, other states may be more inclined to get in on the action. Online poker players in the U. Morgan Stanley envisions only the golden state of California passing online poker legislation in , with a launch taking place the following year.
Next in line to join the online poker and gambling party will likely be New York, Illinois and Pennsylvania in with market grand openings in While those three states are launching, Morgan Stanley believes there is a good chance that the legislatures in Colorado, Massachusetts and Iowa finally approve igaming regulations of their own and invite players within their states to place online wagers in The next handful of states most likely to climb aboard include Michigan, Maryland, Ohio, Connecticut and Florida.
The report points to the fact that casinos, run by either Indian tribes or commercial interests, are currently found in only 39 states. Its projections take this into account under the assumption that states without casinos would be less likely to enact Internet gambling statutes.
Whether 20 regulated states in six years is a lot or a little is a matter for debate. Talking about legislative process, and the report bears no mention of any federal ruling over iGaming in the next five years, and instead focuses on the current state-by-state trend that has kick-started the revolution. The forecast indicates there will be seven states live by , and 20 by the end of With the exception of California, Pennsylvania, New York and Illinois, the rest of the cast seem to be hiding on a memo that failed to reach the desk of the person who wrote this report.
Writing in the California Gambler, intrepid reporter Steve Ruddock cites Colorado, Iowa, Massachusetts, Mississippi, West Virginia, Maryland, Hawaii, and Washington as potential candidates, but even that little wizard is left scratching his head as to what other states will be opening their cyber doors.
Morgan Stanley has had to rely heavily on the performance of the current three states New Jersey in particular for their predictions of the future. The report believes an online poker bill will be passed in California some time during , with the market opening up in The inclusion of Illinois is forecast to be after legislation is passed in This assumes that Illinois will go the whole nine yards and introduce a total iGaming experience into the state, and not just online poker.
A similar thought process is attached to the fate of Pennsylvania. Morgan Stanley predicts that a bill will be passed in , and money will start rolling in during The art of saying what will happen, now we wait another few years for the explanation as to why it never did.