British Analyst Predicts Change in US Gambling Legislation
A well respected UK based gambling analyst has said that he expects online gambling in the US to be legalised over the coming year. click here for more about US soccer regulation and transfers.
Michael Campbell, a well known online gambling analyst from the UK broking company Daniel Stewart has said that the US internet gambling market offers many opportunities particularly in the current difficult economic climate.
According to Campbell the US market has recently undergone significant change due to increasing pressures from companies in the gambling industry. Thanks to these pressures, attempts to legalise online gambling were made last year at both the federal and state level.
Whilst most of the legalisation attempts were opposed there was some progress made in New Jersey and California. Campbell thinks that once individual states start legalising internet gambling it is just a matter of time before others follow suit.
The recession has been hard for land based casinos and they are now looking at additional ways of generating income, including through online gambling. Campbell believes that regardless of whether legislative change happens at the State or Federal level, online gambling will continue to grow and develop.
Online companies such as PartyGaming and Playtech would benefit the most from legalisation in the US as their potential customer base would grow by millions. Campbell thinks that legislative change is likely to take place over the coming year as the US looks for extra ways of making money.
The annual gambling market in American is worth around $90 billion including Las Vegas and Atlantic City which make up 37% of the market. The global online gambling market is worth around $30 billion each year and Campbell believes that the US market would be worth about 27% ($7 billion). Before online gambling was made illegal in the US, their market was worth around half of the total global market.
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