Industry insiders generally believe that legal Internet gambling will spread in 2015, though many still aren’t confident about the ability of existing technology to meet regulatory challenges, a survey released Thursday suggests.
The survey, conduct by leading igaming software provider CAMS, took the temperature of 113 professionals in the gambling industry on a range of pressing issues facing Internet gambling, which is legal in three states, including New Jersey.
Sixty-percent of respondents said Pennsylvania, which is considering several online gambling bills in its legislature, “will make progress toward licensed and regulated online gambling on 2015.”
New Jersey is a national proving ground for legal Internet gambling, offering everything from virtual slot machines to online table games; Delaware has a small industry and Nevada has only approved Internet poker.
New Jersey requires Internet gamblers to be at least 21 and within state borders when placing bets.
But 14 percent and 21 percent of respondents to the CAMS survey said they are “not at all confident” in existing protocols used to verify gamblers’ identity and location, respectively.
“As with most industries, ours regularly hears from many of the same voices saying the same things over and over again,” CAMS founder and CEO Matthew Katz said in a statement.
One prominent cause for concern has been the refusal by big banks to allow accountholders to use bank cards for gambling. Twenty-one percent of respondents said they are “not at all confident” that they would see “general acceptance of credit cards in the next 2-3 years.”
CAMS is among a small cadre of companies that’s decided to dive into the inchoate legal I-gambling industry in the United States. The market is still small – New Jersey’s legal casinos generated about $122.9 million in revenue last year – but it could grow exponentially if California, New York and other large states approve the practice.