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Online Gambling in Atlantic City

For better or for worse, online casino is coming to Nj.

In late February, Chris Christie legally signed into law a bill that legalized internet casino in Atlantic City.

Initially the bill was vetoed by the Governor because of issues surrounding openness and taxes. Lawmakers adjusted the พักยก 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 license to offer online casino. Only the twelve official Atlantic City casinos will be eligible for the license. No other organizations can offer internet casino, and face stiff penalties if they do. All facilities used for the operation of internet casino must be located within city limits; only gambling bets that are received by a server in Atlantic City will be legal.

— Players must be “physically present” in Nj to place bets. In the future, Nj may develop agreements with other states where internet casino is legal to allow for out-of-state casino. 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 playing will not be protected by this bill, although the state of Nj is trying to fight the federal statute barring the legalization of sports playing.

— The bill has all kinds of terms to keep casino addiction at bay, such as requiring the prominent display of the 1-800-GAMBLER hotline number, a way to set maximum gambling bets and losses over a certain period of time, and tracking player losses to name and limit users who may demonstrate paralyzing casino behavior.

— Revenue from online casino 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 governed by a “public comment period” until May 2 before being finalized. These rules include details such as how a casino acquires the appropriate the required licenses and procedures for maintaining network security on casino sites.

So, will online casino actually benefit nys?

The good

Revenues from Atlantic City casinos have been on the decline for the past seven years, and online casino could be what saves the failing casinos. Since 2006, casino revenue has dropped from $5. 2 billion to around $3 billion. Online casino could be a $500 million to $1 billion 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 casino 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 assistance to struggling casinos in Atlantic City.

For the player, low cost 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 casino online allows players to play more with less travel.

BAD:

One of the goals of the bill is really to attract more individuals to go to the brick-and-mortar casinos, but it is hard to say if online casino will actually lead to this outcome. You possibly can 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 casino. 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 casino sites, which could possibly encourage individuals to go to the casino but may be annoying for players.

Online casino could be seriously devastating those of you that have casino addictions, or even cause individuals to develop them, raising financial and moral concerns. Even with all the preventative steps the bill requires, it will definitely be much harder to cut off compulsive bettors if they can place gambling bets anywhere with an internet connection.

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