Looking Ahead to 2015
Summary: As 2014 comes to a close, we take a look at how 2015 may play out.
2014 was a phenomenal year for online gambling. Three states managed to get their online gambling program up and going, and not only that, but they’re posting impressive numbers. This year was a huge step up from 2013, but what should we expect for 2015?
First things first, expect Sheldon Adelson and his Restoration of America’s Wire Act to come back with a vengeance. He’s spent Christmas drumming up support for the bill, so when he comes back, he’ll come back ready to fight. Remember, if the Restoration of America’s Wire Act passes, the entire online gambling industry will be declared illegal under federal law and will be forced to cease operations.
Expect progress with sports betting. New Jersey Governor Chris Christie took a massive leap forward by trying to get sports betting legalized, only to be blocked by the big leagues (the NHL, NBA, MLB, and NFL). NBA Commissioner Adam Silver supports Chris Christie and online sports betting, so other leagues could change their mind in 2015. Chris Christie estimated that due to the popularity of sports betting in Las Vegas, he expects sports betting revenue to generate millions of dollars – and that’s without taking any promotions into account, such as no deposit bonuses.
In 2015, there will, hopefully, be another state that legalizes and regulates online gambling. Currently, there’s two that are considering it: California and Pennsylvania. Obviously, California would be the best one to legalize it. Not only are they the most populated state in the nation, they also stand to gain the most from legalizing it. If you’ll look back in September, we talked about how a finance analyst from Morgan Stanley predicted that at least 20 states will have some form of legalized and regulated online gambling by the year 2020. If California were to legalize it, they’d generate an incredible amount of revenue. Once other states saw how much California was benefitting from online gambling, they’d undoubtedly legalize and regulate it as well.
Finally, expect more shady shenaniganry from Sheldon Adelson. This year alone, he’s tried to get the support of several powerful people, including Henry Reid and Texas Governor Rick Perry. In Henry Reid’s case, he believed that his support would help pass the RAWA bill faster – it didn’t. In Rick Perry’s case, he believed that Perry would make a run for the White House, but Rick Perry was involved in a scandal earlier this year that undoubtedly damaged his reputation and may have completely destroyed any chance he had at making a White House run. Adelson has also financially back several political issues in the hopes of making his name appear in a positive light to state legislators.
2015 is bound to be a year full of twists and turns, and we hope you’ll join us for the ride.