It is not shocking to hear and believe that a couple of years back online gambling was actually referred to as a boon for the online casino industry. It was seen as a means of injecting income into people’s daily life especially in states such as New Jersey and Atlantic City. But surprisingly, most of the casinos closed with a year of opening in these states. The scenario now has completely changed, and it does not look good for these companies. Several forecasters have mentioned that success rates have been reduced to more than 50 per cent. Some of them even say 10 per cent, but something like this is hard to predict on the face of it. Moving on, what is not very difficult to understand is the fact that the industry is not showing good signs for survival. The industry was touted to be a 5 billion dollar enterprise which is now collapsing.
Here are some facts about online gambling in some states of the US:
- Only in the initial 12 months of operating did New Jersey make a profit of $122 million, and have been in profit since 2013.
- $1.4 million was earned by Delaware.
- Online gambling has also helped Nevada. Furthermore, the legalisation of online gambling has brought in quite a good result in terms of money coming into the system.
Experts Predict Market to Grow and Expand
Casinos have taken the Internet with quite a storm, and will keep on going to in the years to come. The industry is only set to expand and not close down. Though one should not forget that initially the start of the online gaming industry was pretty dull and quite disappointing, as some would put it. The start wasn’t good for either sides; legislative or the legal sides. It was only gradually that the market started picking up. Furthermore, the biggest gambling site for poker, PokerStars, is all set to expand its operations in New Jersey. Poker is one of the most played games in the casino, and is extremely popular. Also the fact that sports betting and gambling is also extremely popular, other websites are also getting the impetus to invest more in the gambling market, which is quite stagnant in some states.
The change is good and one should be quite optimistic to believe that good things are going to come out of this. Logistical reasons have always played a major part in the downfall of the gambling industry. This is was especially obvious when it came to transactions being made on the websites of the online casinos. For example, paying through PayPal and MasterCard was a cause of major concern. Many people were not able to process the transactions and that created a problem. This problem has been fixed now, with the card companies making amendments in the way they functioned. The percentage of people now being able to make successful payments online has gone up to 62 per cent.