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 when they do. All facilities useful for the operation of internet gambling should be located within city limits; only bets which can be received by way of a server in Atlantic City will undoubtedly be legal.
– Players should be “physically present” in New Jersey to position 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 open 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, sbobet although the state of New Jersey is wanting to fight the federal statute barring the legalization of sports betting.
– The bill has all kinds of provisions to help keep gambling addiction at bay, such as requiring the prominent display of the 1-800-GAMBLER hotline number, a method to set maximum bets and losses over a certain period of time, 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 from this tax, however many analysts think this number is seriously overestimated.
The state regulations, that your bill required the Division of Gaming Enforcement to produce, 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 what sort of casino acquires the right licenses and procedures for maintaining network security on gambling sites.
So, will online gambling actually benefit the state?
Revenues from Atlantic City casinos have been on the decline for yesteryear 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 might 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. Further, even though estimates of tax revenue are throughout the map, there is possibility of online gambling to become a considerably valuable supply of money for the state. The casinos will also have to pay a tax to the Casino Reinvestment Development Authority, which 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” that 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 people to go to the brick-and-mortar casinos, but it’s hard to say if online gambling will in actuality lead to the outcome. One could speculate it might even cause people to visit the casinos less (However, this seems unlikely; the social element and the free drinks are lost in online gambling. Also, research indicates that, at the least with poker, internet gaming doesn’t reduce casino gaming.) Advertising for the host casino will undoubtedly be allowed on the web gambling sites, which could possibly encourage people to go to the casino but may 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 surely be much harder to stop compulsive gamblers if they can place bets anywhere with a net connection.
Regardless, it will probably be considered a while before the casinos can start up their online gambling offerings. The regulations have 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 supply of revenue during the 2013 summer season, which could be Atlantic City’s toughest season ever following recovery from Hurricane Sandy.