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Slow Progress For USA Online Gambling Number
Wednesday April 2,2014 : U.S. ONLINE GAMBLING NUMBERS REMAIN MUTED
February statistics show steady but slow progress.
Gaming analysts have been studying the latest regulator numbers on online gaming in the three legal jurisdictions of New Jersey, Nevada and Delaware this week, with Morgan Stanley commenting that, whilst numbers are lower than initial predictions; i-gaming will be an $8 billion industry in the United States by 2020.
"Estimates change based on market conditions and i-gaming is currently in a state of flux," the respected analyst opined. "Once we start seeing other states join the market, we will get a more realistic picture of what the future of i-gaming holds."
Total online and mobile win for February was $11.29 million, with New Jersey contributing $10.3 million, Nevada $824,000 and Delaware $170,000.
Since online gambling launched last year in Nevada, with New Jersey and Delaware following suit later, over $37.2 million in revenue has been recorded, made up of $8.5 million from online poker in Nevada, $28.1 million from New Jersey and $600,000 from Delaware.
The slower return on investment prompted companies like Morgan Stanley to recently revise downward their initial estimates of the size of the US market , but there is still optimism regarding the development of the industry and its future medium to long term success in the United States.
The original assessment that the market would be worth $5 billion by 2017 was downgraded to $3.5 billion, which has been to some extent validated by New Jersey's results as the biggest region in the nascent field, which in the first two months of 2014 has generated $19.7 million in revenues.
In a tweet earlier this week, independent analyst Adam Krejcik of Eilers Research drew a comparison between social online gambing and conventional remote gaming, noting that the social genre epitomised by IGT's Double Down Casino alone generated $64.8 million in the last quarter, whilst to date all remote gaming revenues have totaled $37.2 million.
The conclusion he reached was that for the foreseeable future social gaming will dominate the sector.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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