As you know, New Jersey, Delaware and Nevada all offer some sort of legalized online gambling. But the combined populations of those 3 US states is just over 12.6 million. That is less than 1/3 of the California population of 38.3 million. The tiny state of New York claims 19.6 million residents, Illinois is 5th in US state population size at 12.9 million, and Pennsylvania is close behind with 12.7 million residents. Even Massachusetts claims 6.7 million residents. Coincidentally, those 5 states are all feverishly working toward the same goal … becoming the 4th state in the young but growing United States online gambling industry. And they all offer one thing that has thus far been missing – a substantial population to draw potential players from.
Pennsylvania to Profit $184 Million its First Year of Online Gaming – Independent Analyst
As more states line up to legalize online gambling, industry analysts are turning their talk to “when” nationwide US cyber gambling will arrive, as opposed to “if”. And while the legislators on both sides of the aisle can argue that they have their constituents’ best interests at heart, there is really one main issue at stake. Money, and lots of it. There are Democrats and Republicans across the nation who have proposed legal Internet gambling legislation, at both state and federal levels. We mentioned Pennsylvania earlier, and that state commissioned a cyber gambling revenue study on the matter. Just recently released, the third-party analysts Pennsylvania hired reported that the state could expect up to $184 million in revenue the first year that the Keystone State offered online gaming for real money to its residents.
US Online Gambling Industry Showing Slow and Steady Growth
The independent gaming research firm went on to state that Pennsylvania could expect $25 per resident annually in online gambling revenue once the industry was established. That means as much as $300 million a year to help a state budget which is currently operating at a deficit. Even if those numbers were cut in half, you can see why Pennsylvania lawmakers are trying desperately to establish support for a pro-gambling piece of legislation. Pennsylvania, Massachusetts, Illinois and New York are all physically located to nearby New Jersey and Delaware. While the revenue numbers generated by online gambling at those two less populous states have not been earth shattering, growth has been slow and steady. Any marketplace that explodes will suffer significant downturns, so the gradual growth seen in New Jersey, Delaware and across the country in Nevada are definitely positive signs.
California Has 8th Largest Global Economy – Online Gambling Profits Would Be Staggering
California though, without a doubt, is the big victory that the United States online gambling industry needs. The income generated by the state of California currently ranks as the 8th largest economy in the world. When Golden State legislators eventually decide on what type of online gambling will be offered, California will immediately become the undisputed king of legal, real money betting online in the US. The Iipay tribe of Santa Ysabel Indians just recently opened an online poker room where California residents, travelers and vacationers can play for real money. The launch has thus far been unchallenged by state lawmakers, and there are also two pieces of legal online gambling legislation awaiting votes in the state. A third Internet gambling proposal has the backing of influential Indian tribes. Internet gambling is coming to California, it is just a question of when.
Illinois, California, Pennsylvania, Massachusetts, New York – Who’s Next?
Whether Illinois, New York, Pennsylvania, Massachusetts or California is next up as a legal online gambling state is anyone’s guess. Some other state could decide to legalize some type of Internet wagering, hurdling these top contenders and immediately becoming the leader in what is a very small industry currently. But with billionaires like Sheldon Adelson (who ironically made most of his money through land-based casinos) opposing federal online gambling legislation, a substantially populous US state needs to legalize and regulate its own virtual gambling industry to lend credence to the marketplace. With millions of Americans every day logging on to seasoned and reputable offshore Internet gambling sites, the support is definitely there.