At the end of a two days of meetings with operators, media representatives and US lawmakers, Morgan Stanley published a "take-aways" report revealing that even though a number of US states, including Illinois, Pennsylvania, Massachusetts and California, are likely to legalize online gambling in the coming months, considering the time needed to go live in Nevada, it will take the next US states at least 2-3 years to open their online gambling markets, with the exclusion of New Jersey that remains on track for a November launch.
Other key take-aways from the two-days forum include most participants considering unlikely that a federal bill will become law any time soon, a view supported by the people in the office of Rep. Pete King, who recently presented the Internet Gambling Regulation, Consumer Protection and Enforcement Act of 2013.
The New Jersey's challenge to PASPA will be appealed all the way to the Supreme Court, with a ruling expected in 1-2 years max.
If the Supreme Court was to decide in favor of New Jersey to legalize sports betting, the U.S. could see the intrastate sports betting market finally opening up.
Meanwhile, participants to the Morgan Stanley US Online Gaming Forum pointed to strong growth in a number of products that take advantage of legal loopholes that appear to mimic online gambling, including fantasy sports betting, historical horse wagering, online scratchcards and skill games betting.