Initially the bill was vetoed by the Governor due to issues surrounding transparency and taxes. Lawmakers adjusted the text 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 the ability to utilize for a license to supply online gambling. Only the twelve official Atlantic City casinos will soon be entitled to the license. No other organizations can offer internet gambling, and face stiff fines should they do. All facilities used for the operation of internet gambling should be located within city limits; only bets which are received by a server in Atlantic City will soon be legal.
Players should be “physically present” in New Jersey to put wagers. As time goes on, 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.) Currently, sports betting won’t be protected by this bill, although their state of New Jersey is attempting to fight the federal statute barring the legalization of sports betting.
The state regulations, that the bill required the Division of Gaming Enforcement to produce, 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 appropriate licenses and procedures for maintaining network security on gambling sites.
Revenues from Atlantic City casinos have been on the decline for the past 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. Online gambling is actually 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, even though estimates of tax revenue are throughout the map, there’s possibility of online gambling to be always a considerably valuable source of money for the state. The casinos will also have to pay a tax to the Casino Reinvestment Development Authority, that’ll provide further assistance to 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 convenience of gambling online allows players to play more with less travel.
One of the goals of the bill is supposedly to attract more individuals to visit the brick-and-mortar casinos, but it is hard to express if online gambling will in truth lead to this outcome. You can speculate it could even cause people to go to the casinos less (However, this seems unlikely; the social element and the free drinks are lost in online gambling. คาสิโนออนไลน์ Also, research suggests that, at the least with poker, internet gaming doesn’t reduce casino gaming.) Advertising for the host casino will soon be allowed on the online gambling sites, which could possibly encourage people to visit the casino but could also be annoying for players.
Online gambling might be seriously devastating for folks who have gambling addictions, as well as cause people to develop them, raising financial and moral concerns. Even with all the preventative steps the bill requires, it will certainly be much harder to cut off compulsive gamblers if they could place bets anywhere with an internet connection.
Regardless, it will probably be a while before the casinos can kick off their online gambling offerings. The regulations need to be finalized and casinos need to utilize for licensure and develop their gambling websites. This means the casinos won’t be enjoying this new source of revenue throughout the 2013 summer season, which may be Atlantic City’s toughest season ever following recovery from Hurricane Sandy.