Online gambling legislation has been a widely discussed topic in a number of states. Although more and more state authorities realize that it can be a source of considerable revenue, iGaming services have been legalized in three states so far – namely Delaware, Nevada and New Jersey.
These states have been dealing with various issues brought about by the legislation of online gambling activities but the worst of all is that they have not seen the impressive revenue they expected and the boost of the local economy market analysts predicted.
States where online gambling has not been legalized yet keep a close eye on every issue and every increase in online gambling revenue. However, the situation is not really optimistic given the weak revenue generated since the beginning of the year. Nevertheless, New Jersey is seeing the light at the end of the tunnel and it is likely to overcome the difficulties in the foreseeable future.
Despite the serious crisis, caused by the closures of four casinos on the territory of Atlantic City, the online gambling sector is currently undergoing considerable revitalization. Although the revenue is still unstable, numbers that have been reported since the beginning of the year indicate that the online gambling segment has all chances of becoming a profitable one. According to data related to the financial performance in March, an increase of 11% YOY was reported.
Regardless of all setbacks, New Jersey gambling operators do their best to popularize the online gambling and the iGaming lounge opened at Resorts Casino is a vivid example. In addition, PokerStars is expected to start providing its services by the fall.
The situation in Delaware is quite different, though. The three sites that offer gambling services are yet to make a profit. Actually, the revenue generated is not even near the projections made prior to legalizing online gambling activities on the territory of the state.
In order to remedy the situation, Delaware officials announced that they have joined forces with Nevada so as to be able to provide players with a multi-state poker network where they can play against each other. The venture was expected to help the struggling casinos and the improvement right after the launch of the poker network made Delaware officials hopeful. However, a few weeks later, the number of signups and recreational players decreased again.
Another issue that worries Delaware gambling officials is RAWA and the chances it has to be passed into law. If the latter comes into force, the three states will be prohibited from providing online gambling services.
Two months ago, Nevada regulators introduced a bill aimed at limiting online gambling activities to poker only. Although Nevada and Las Vegas in particular has been considered the gambling Mecca of the United States for quite some time, Nevada and Delaware have a common problem – the liquidity issue. Both states are not very populous, which is among the reasons for the failed expectations.
