Online Gambling within Ocean Town
Casinos located in Atlantic City will have a way to apply for a license to supply online gambling. Only the twelve official Atlantic City casinos is going to be eligible for the license. No other organizations could possibly offer internet gambling, and face stiff fines should they do. All facilities useful for the operation of internet gambling must be located within city limits; only bets which can be received with a server in Atlantic City is going to be legal.
– Players must be “physically present” in New Jersey to position 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 offered to play in the casinos may be played online. (For comparison, Nevada only allows poker.) Currently, sports betting will not be protected by this bill, although their state of New Jersey is wanting to fight the federal statute barring the legalization of sports betting.
– The bill has all sorts of provisions to keep gambling addiction away, such as for example requiring the prominent display of the 1-800-GAMBLER hotline number, ways to set maximum bets and losses over a particular time frame, and tracking player losses to identify 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 is going to be generated from this tax, however many analysts think this number is seriously overestimated.
The state regulations, which the bill required the Division of Gaming Enforcement to produce, were released on June 3, and are at the mercy of a “public comment judi bola period” until August 2 before being finalized. These rules include details such as for example how a casino acquires the appropriate licenses and procedures for maintaining network security on gambling sites.
So, will online gambling actually benefit their state?
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 might be enough to keep struggling casinos afloat and save jobs in Atlantic City. Further, although estimates of tax revenue are all around the map, there’s prospect of online gambling to be a considerably valuable supply of money for the state. The casinos will also need 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 convenience of gambling online allows players to play more with less travel.
One of many goals of the bill is supposedly to attract more people 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 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 is going to be allowed on the online 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, as well as cause people to develop 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 are able to place bets anywhere with a net connection.
Regardless, it will be described as a while before the casinos can actually start their online gambling offerings. The regulations need to be finalized and casinos need to apply for licensure and develop their gambling websites. This implies the casinos will not be enjoying this new supply of revenue throughout the 2013 summer season, which could be Atlantic City’s toughest season ever following recovery from Hurricane Sandy.