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New Jersey Online Gambling Disappoints

New Jersey's online gambling industry struggled mightily during its first year, bringing in only $111 million in revenues -- significantly less than the $1 billion that was predicted as being possible.

Even though the results were disappointing, online gambling did positively impact the state as it provided revenue to casinos as well as tax money for the state's coffers. The state's regulatory body did fare very well though, as the state did not see any gaming related scandals or technical related issues.

Industry pundits pointed out that the geolocation system used by the casinos has improved, as has the credit card processing software, meaning that more punters within state borders can play whenever they want.

Pending issues for the second year of the industry include a licensing decision on PokerStars, who has previously tried to enter the market unsuccessfully as well as waiting to see whether an attempt to ban online gambling passes on a federal level.

Online revenues are expected to grow in 2015, albeit at a slower level than originally anticipated. Deutsche Bank has predicted next year's revenues to total $150 million... down from an original estimate of $250 million.