Online real-money gaming in the US has made a slower start than had been forecast due to illegal offshore operators that are continuing to target American players, according to a panel of experts at the East Coast Gaming Congress in Atlantic City.
"Internet gambling exists in all 50 states today," said David Rebuck, director of the New Jersey Division of Gaming Enforcement, speaking at the Congress yesterday. "It's just not regulated."
Rebuck said New Jersey had recently sent cease-and-desist letters to out-of-state gambling companies that are marketing their services to residents of the Garden State.
New Jersey governor Chris Christie had originally predicted i-gaming revenues for the state of around $1bn in the first year. The total is now forecast to be nearer $200m.
Despite the sluggish start, panellists were in broad agreement that online gambling has plenty of room for growth in the US.
"We think what's happening in the US is the single most exciting happening in i-gaming in the world," said Eamonn Toland, president of Paddy Power’s North American business.
Morgan Stanley predicts that by 2020, regulated online gambling in the US will generate $8bn a year.
Source: Associated Press
