For better or for worse, online playing is coming to Nj.
In late February, Joe Christie formally signed into law a bill that legalized internet playing in Atlantic City.
Initially the bill was vetoed by the Governor because of issues surrounding openness and taxes. Lawmakers adjusted the written text and the amended bill passed by an overwhelming majority in the legislature and earned Christie’s press.
Here are the basics of the bill:
— Casinos located in Atlantic City will be able to apply for a licence to offer online playing. Only the twelve official Atlantic City casinos will be eligible for the licence. No other organizations can offer internet playing, and face stiff penalties if they do. All facilities used for the operation of internet playing must be located within city limits; only table bets that are received by a server in Atlantic City will be legal pussy888 .
— Players must be “physically present” in Nj to place bets. In the future, Nj may develop agreements with other states where internet playing is legal to allow for out-of-state playing. The casino’s equipment must verify players’ locations before accepting bets.
— Any games available to play in the casinos can be played online. (For comparison, Nevada only allows poker. ) Nowadays, sports bets will not be protected by this bill, although the state of Nj is trying to fight the federal statute unless the legalization of sports bets.
— The bill has all kinds of convention to keep playing addiction from increasing, such as requiring the prominent display of the 1-800-GAMBLER hotline number, a way to set maximum table bets and losses over a certain period of time, and tracking player losses to name and limit users who may demonstrate enslaving playing behavior.
— Revenue from online playing will carry a 15% tax. The Christie administration states that about $180 million in revenue for the state will be generated from this tax, but some analysts think this number is seriously overestimated.
The official regulations, how the bill required the Division of Gaming Enforcement to produce, were released on August 3, and are susceptible to a “public comment period” until May 2 before being finished. These rules include details such as how a casino gets the appropriate the necessary licenses and procedures for maintaining network security on playing sites.
So, will online playing actually benefit nys?
Revenues from Atlantic City casinos have been on the decline for the past seven years, and online playing could be what saves the failing casinos. Since 2006, casino revenue has dropped from $5. 2 thousand to around $3 thousand. Online playing could be a $500 million to $1 thousand industry in Nj, which may be enough to keep struggling casinos afloat and save jobs in Atlantic City. Further, even though estimates of tax revenue are all over the map, there is potential for online playing to be a considerably valuable source of money for the state. The casinos will also have to pay a tax to the Casino Reinvestment Development Authority, which will provide further assist with struggling casinos in Atlantic City.
For the player, low cost to do business 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 convenience of playing online allows players to play more with less travel.
One of the goals of the bill is purportedly to attract more individuals to go to the brick-and-mortar casinos, but it is hard to say if online playing will actually lead to this outcome. You could speculate it could even cause people to go to the casinos less (However, this seems unlikely; the social element and the free drinks are lost in online playing. Also, research indicates that, at least with poker, internet gaming does not reduce casino gaming. ) Advertising for the host casino will be allowed on the online playing sites, which could possibly encourage individuals to go to the casino but may be annoying for players.
Online playing could be seriously devastating for those who have playing addictions, or even cause individuals to develop them, raising financial and meaning concerns. Even with all the protective steps the bill requires, it will definitely be much harder to cut off compulsive bettors if they can place table bets anywhere with an internet connection.