online gambling regulation

Online Gambling finally regulated in New Jersey

The governor of New Jersey Chris Christie has at last signed the online gambling bill and it thus has become a law. This historic event took place on the 26th of February (Tuesday) and thus New Jersey is the 3rd U.S. state that licensed and regulated the online gambling after such steps were taken by Delaware and Nevada.

The governor of New Jersey Chris Christie has at last signed the online gambling bill and it thus has become a law. This historic event took place on the 26th of February (Tuesday) and thus New Jersey is the 3rd U.S. state that licensed and regulated the online gambling after such steps were taken by Delaware and Nevada. It is now forgotten that just nineteen days ago the online gambling bill was conditionally vetoed by Christie although it had been passed before by the New Jersey House and the Senate. The reason for vetoing the bill was the governor’s desire to increase the tax rate from ten percent to fifteen percent of gross gaming revenue and also to assign the ten year sunset period.

Christie stated that this decision was really hard for him, but it was a critical one too. He also pointed out that he did all it took to include the good regulatory safeguards and framework, so that players could enjoy not only exciting but also safe and responsible. According to the governor’s words this law would allow Atlantic City to become a more competitive state and to attract new finances to the whole state. The land based casinos could offer the players new convenient product by adding the online casinos to their product range. And the money they earn from such online casinos could be used to give the players shoe tickets, free hotel rooms, meals and so on. And the players who visit the land based casinos thanks to such attractions could possibly spend there more money.

So, the law is passed, but the online gambling community is still waiting for a start date to be settled for it by the state Division of Gaming Enforcement. And this can be 3 to 9 month. And the casino executives agreed upon the time period from 6 month to 12 month before the online gambling starts to function the way it should. Those casino operators who already work in this field will be able to offer for online gambling any game from the list of the twelve casinos of Atlantic City. A gambler who wants to play online would need to create an account at a certain casino. One other rule says that the players to come to a casino. The gamblers would be interested to create limits on their play every day. Also the online casinos would encourage the players to set the per-hand limits as those who gamble the land casino.

The New Jersey state has done well in terms of allowing the players feel freer about where they want to gamble. The casino operators and the industry representatives were glad the bill was passed. Director of IMEGA Joe Brennan Jr., stated that industry of online gambling is comparatively new and yet it has got a huge number of fans all around the world. He also said that it took a bit more than was expected to pass the online gambling law. And now Atlantic City can no longer ignore this fact and this long-term tendency. The executive director of the Poker Players Alliance John Pappas has also pointed out that New Jersey is now going in right direction. Very soon the gamblers from New Jersey will be able to enjoy regulated and safe online gambling. Also the regulated online gaming market is a good source for job creation and revenue.