Initially the bill was vetoed by the Governor because of 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 a way to utilize for a license to offer online gambling. Only the twelve official Atlantic City casinos will undoubtedly be entitled to the license. No other organizations could offer internet gambling, and face stiff fines if they do. All facilities employed for the operation of internet gambling should be located within city limits; only bets which can be received with a server in Atlantic City will undoubtedly be legal.
Players should be “physically present” in New Jersey to put wagers. Later 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 open to play in the casinos can be played online. (For comparison, Nevada only allows poker.) As of this moment, sports betting won’t be protected by this bill, although the state of New Jersey is trying to fight the federal statute barring the legalization of sports betting.
The official regulations, that the bill required the Division of Gaming Enforcement to make, were released on June 3, and are susceptible to 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 the past seven years, and online gambling could be what saves the failing casinos. Since 2006, casino revenue has dropped from $5.2 billion to around $3 billion. Online gambling could be a $500 million to $1 billion industry in New Jersey, which may be enough to help keep struggling casinos afloat and save jobs in Atlantic City เว็บพนันออนไลน์. Further, although estimates of tax revenue are all over the map, there is potential for online gambling to become 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 will provide further assist with struggling casinos in Atlantic City.
For the gamer, 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 individuals to visit the brick-and-mortar casinos, but it’s hard to state if online gambling will in truth lead to the outcome. You can speculate it could 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 indicates 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 visit the casino but could also be annoying for players.
Online gambling could be seriously devastating for folks who have gambling addictions, or even cause people to develop them, raising financial and moral concerns. Even with all the current preventative steps the bill requires, it will definitely be much harder to cut off compulsive gamblers if they can place bets anywhere with a net connection.
Regardless, it will probably be a while before the casinos can in fact 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 source of revenue through the 2013 summer season, which could be Atlantic City’s toughest season ever following recovery from Hurricane Sandy.