Casinos located in Atlantic City will be able 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 could possibly offer internet gambling, and face stiff fines when they do. All facilities useful for the operation of internet gambling must certanly be located within city limits; only bets that are received by way of a server in Atlantic City will soon be legal.
– Players must certanly be “physically present” in New Jersey to put wagers. In the foreseeable 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 offered to play in the casinos may be played online. (For comparison, Nevada only allows poker.) As of this moment, 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 bill has all kinds of provisions to keep gambling addiction at bay, such as requiring the prominent display of the 1-800-GAMBLER hotline number, judi bola ways to set maximum bets and losses over a certain time frame, 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 their state will soon be generated from this tax, but some 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 what sort of casino acquires the correct licenses and procedures for maintaining network security on gambling sites.
So, will online gambling actually benefit their state?
Revenues from Atlantic City casinos have now been on the decline for days gone by seven years, and online gambling could possibly 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 keep struggling casinos afloat and save jobs in Atlantic City. Further, although estimates of tax revenue are throughout the map, there is potential for online gambling to become a considerably valuable source of money for the state. The casinos will also need to pay a tax to the Casino Reinvestment Development Authority, that may provide further assistance to 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” that have minimal costs for them but give players more opportunities to play and win. The capability of gambling online allows players to play more with less travel.
Among the goals of the bill is supposedly to attract more folks to go to the brick-and-mortar casinos, but it’s hard to express if online gambling will actually 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 indicates that, at the very least with poker, internet gaming doesn’t reduce casino gaming.) Advertising for the host casino will soon 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 possibly be seriously devastating for those who have gambling addictions, or even cause people to produce them, raising financial and moral concerns. Even with the preventative steps the bill requires, it will surely be much harder to cut off compulsive gamblers if they can place bets anywhere with a web connection.
Regardless, it will probably be a while prior to the casinos can start their online gambling offerings. The regulations have to 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 throughout the 2013 summer season, which could be Atlantic City’s toughest season ever following recovery from Hurricane Sandy.