Online gambling was supposed to provide a financial boost to New Jersey's ailing casinos, but revenue has fallen for the third month in a row and Fitch, a Wall Street credit rating firm, as cut its projection for internet gambling this year by almost half.
New Jersey's online gambling industry experienced its first monthly revenue decline in April. It's not a big deal, according to experts, but they say online operators could benefit from a number of changes.
This may sound surprising, but more Americans would prefer to legalize marijuana for recreational use than online gambling, according to the most recent national survey from Fairleigh Dickinson University's PublicMind.
While online gambling is picking up steam in New Jersey, it's also building a solid following from out-of-state players who would rather just cross the border into North Jersey to play.
Morgan Stanley lowered its estimate of the U.S. Internet gambling market on Tuesday to $3.5 billion by 2017, down from a previous forecast of $5 billion.
The growth of New Jersey's Internet gambling slowed somewhat in February, with the Atlantic City gambling web sites posting a nearly 9 percent increase for the month.