Initially the bill was vetoed by the Governor due to issues surrounding transparency and taxes. Lawmakers adjusted the writing and the amended bill passed by an overwhelming majority in the legislature and earned Christie’s seal of approval.
Casinos located in Atlantic City will have a way to utilize for a license to supply online gambling. Only the twelve official Atlantic City casinos will undoubtedly be eligible for the license. No other organizations will offer internet gambling, and face stiff fines should they do. All facilities useful for the operation of internet gambling must be located within city limits; only bets that are received with a server in Atlantic City will undoubtedly be legal.
Players must be “physically present” in New Jersey to position wagers. In the future, New Jersey may develop agreements with other states where internet gambling is legal to permit out-of-state gambling. The casino’s equipment must verify players’ locations before accepting wagers.
Any games available to play in the casinos may be played online. (For comparison, Nevada only allows poker.) As of now, sports betting won’t be protected by this bill, although the state of New Jersey is wanting to fight the federal statute barring the legalization of sports betting.
The bill has a myriad of provisions to help keep gambling addiction away, such as requiring the prominent display of the 1-800-GAMBLER hotline number, ways to set maximum bets and losses over a specific time period, and tracking player losses to recognize and limit users who may demonstrate addictive gambling behavior.
Revenue from online gambling will carry a 15% tax. The Christie administration states that about $180 million in revenue for the state will undoubtedly be generated using this tax, however many analysts think this number is seriously overestimated.
The official regulations, that your bill required the Division of Gaming Enforcement to create, were released on June 3, and are at the mercy of a “public comment period” until August 2 before being finalized. These rules include details such as how a casino acquires the right licenses and procedures for maintaining network security on gambling sites.
Revenues from Atlantic City casinos have been on the decline for days gone by seven years, and online gambling might be what saves the failing casinos. Since 2006, casino revenue has dropped from $5.2 billion to around $3 billion. เว็บบอล Online gambling might be a $500 million to $1 billion industry in New Jersey, which can be enough to help keep struggling casinos afloat and save jobs in Atlantic City. Further, although estimates of tax revenue are throughout the map, there’s potential for online gambling to be always a considerably valuable supply of money for the state. The casinos will also need to pay a tax to the Casino Reinvestment Development Authority, that will provide further help struggling casinos in Atlantic City.
For the player, low overhead costs mean better prizes and more opportunities to play. Casinos can incent players with free “chips” which have minimal costs for them but give players more opportunities to play and win. The ease of gambling online allows players to play more with less travel.
Among the goals of the bill is supposedly to attract more folks to see the brick-and-mortar casinos, but it’s hard to express if online gambling will in truth lead to the outcome. You could speculate it might even cause people to attend the casinos less (However, this seems unlikely; the social element and the free drinks are lost in online gambling. Also, research shows that, at least with poker, internet gaming doesn’t reduce casino gaming.) Advertising for the host casino will undoubtedly be allowed on the internet gambling sites, which might encourage people to see the casino but is also annoying for players.
Online gambling might be seriously devastating for those who have gambling addictions, as well as cause people to develop them, raising financial and moral concerns. Even with the preventative steps the bill requires, it will surely be much harder to stop compulsive gamblers if they could place bets anywhere with an internet connection.
Regardless, it is going to be a while prior to the casinos can actually start their online gambling offerings. The regulations must be finalized and casinos need to utilize for licensure and develop their gambling websites. This implies the casinos won’t be enjoying this new supply of revenue during the 2013 summer season, which could be Atlantic City’s toughest season ever following recovery from Hurricane Sandy.