US financial firm Morgan Stanley has announced that they are weakening their forecast on US online gambling, valuing the US online gambling market at $2.7 billion by 2020.
The original valuation of the market at $5 billion by 2020 but was reduced by the fact that legislative uncertainty could implement a ban on internet gambling and that states have been slow to adopt regulated online gaming. The new forecast suggests that 15 states will have regulated gaming in some form by that point, bringing the new valuation.
Currently it is thought that the states of Pennsylvania and California will be the next states to bring regulated online gaming to the masses, with Illinois and New York possibly coming on board by 2018. The forecast claims that regulation of online betting is coming for the majority of states, as a tipping point will be created when more states adopt online gaming regulation and reap the financial benefits.