Industry analysts have once again changed their outlook on online gambling revenues in the United States of Americas. The reason that industry analysts have predicted there’d be a downgrade in tax revenues for the country if online gambling were to be legalized in because the three states that offer legal online gambling have had lower revenues that the projected results stated.
Morgan Stanley, one of the industry leading analysts estimated the biggest downgrade saying, “I Estimate that the change in tax revenues would differ after a couple of months. The reason for this is because New Jersey, Delaware and Nevada all had large tax revenues when they first started their online gambling industries. As time progressed forwards their tax revenues decreased by a small amount with each passing month.”
As of right now the state of New Jersey has been able to bring in a total of $28.1 Million through tax revenues from their online gambling market. They have earned this money over the course of five months. Nevada on the other hand, which operated an online poker industry has brought in a total of $8.5 Million in tax revenues. Delaware holds the lowest amount of tax revenues, only bring in $600,000.
Key industry analysts expected that online gambling in the United States of America would bring in $5 billion in tax revenues by 2017. Those numbers have now been downgraded to $3.5 Billion, which is still a massive amount of money. Those numbers could change as time goes on.