Good or bad, online gambling will come to New Jersey.
At the end of February, Chris Christie officially signed a bill legislation that legalized internet gambling in Atlantic City.
Initially the bill was heated by the governor because of transparency and tax problems. Parliamentarians adjust the text and bills that are changed to be passed by extraordinary majority in the legislature and get christie approval seals.
Here are the basics of the bill:
– The casino located in Atlantic City will be able to apply for a license to offer gambling online. Only the official of the official Atlantic city of twelve who qualified for licenses. There are no other organizations that can offer internet gambling, and face a rigid fine if they do it. All facilities used for operating internet gambling must be found within the city limits; Only bets received by servers in Atlantic City will be legal.
– Players must be “physically present” in New Jersey to place bets. In the future, New Jersey can develop agreements with other countries where legal internet gambling to allow gambling abroad. Casino equipment must verify the location of the player before receiving bets.
– Every game available for playing in casinos can be played online. (In comparison, Nevada PKV only allows poker.) Until now, sports bets will not be protected by this bill, although the state of New Jersey tries to fight the Federal Statute forbid the legalization of sports bets.
– The bill has all kinds of provisions to maintain gambling addiction in the bay, such as presents a prominent display of the 1-800-gambler’s hotline number, a way to set maximum betting and losses over a certain period of time, and track players’ losses to identify and limit users who can Shows addictive gambling behavior.
– Revenue from online gambling will bring 15% tax. The Christie government stated that around $ 180 million in revenue for the state would be produced from this tax, but some analysts thought this number was too much estimated.
Official regulations, which are required by the bill are needed to distribute gaming enforcement to be produced, released on June 3, and subject to “Public Comment Period” until 2 August before resolving. These rules include details such as how casinos obtain suitable licenses and procedures to maintain network security on gambling sites.
So, is online gambling actually benefit the country?
The good one
Income from Atlantic City Casino has declined over the past seven years, and online gambling can save a failed casino. Since 2006, casino revenues fell from $ 5.2 billion to around $ 3 billion. Online gambling can be a $ 500 million to $ 1 billion in industry in New Jersey, which might be enough to keep the casino struggling and save work in Atlantic City. Furthermore, even though the estimated tax revenue is across the map, there is potential online gambling to become a very valuable source of money for the country. Casinos also have to pay taxes to the development authority of the casino reinvestment, which will provide further assistance to fight casinos in the Atlantic city.
For players, low overhead costs means better gifts and more opportunities to play. Casinos can drink players with “chips” for free which has a minimal cost for them but gives players more opportunities to play and win. Online gambling convenience allows players to play more with fewer trips.