Intrastate online gaming takes centre stage!
NEWARK NJ – Few people could have predicted it – the regulation of online casino games in New Jersey. However, in November 2013 that’s precisely what happened when Governor Chris Christie made the decision to fully regulate online casino games in the Garden State. At the time, New Jersey’s iconic Atlantic City was undergoing difficult times, and still is. 2014 saw the shuttering of one third of Atlantic City’s prized land-based casino establishments. Revenues receded from $5.2 billion in 2006 to approximately half of that by 2012. Christie seized this opportunity to put his state back on the map – where it belongs.
Swift regulation was passed by the New Jersey Department of Gaming Enforcement (DGE), allowing land-based casinos in Atlantic City to partner with online casinos to offer a full range of casino games to players. During the first full year of operation in 2014, online casinos in New Jersey raked in $111 million. This figure, while falling short of analysts’ expectations by a long margin, is still significant. Each of the online casinos operating in New Jersey has characteristics of the top 10 best online casinos, including 100% safe and secure gaming, abundant online casino games variety, generous bonuses and promotions, professional customer support and big jackpot potential.
Features of New Jersey Online Casinos
For starters, the Department of Gaming Enforcement requires that only legal age players within the state of New Jersey are allowed to play real money casino games. In the US, that age is 21. Further, you have to be physically present in New Jersey’s borders, although residence is not required. During the infancy stage of online gaming, there were 3 major problems hampering the industry. The first was geolocation tracking technology which incorrectly excluded New Jersey-based players from real money play. The problem lay in the inaccuracies of the tracking component especially in densely populated border areas.
Another problem was the general misunderstanding among players that online gaming in New Jersey is now fully regulated and 100% legal. Finally, the terms of the UIGEA make it a little difficult for US banks and financial institutions to process payments to online casinos and online sports books. As a result, Visa has an approval rate of 50% and MasterCard has an approval rate of 70%, but this year big changes are expected to boost the online gaming industry in New Jersey and beyond. Presently, New Jersey online gambling revenues account for 90% of all revenues generated by online gaming in the US. The other states that allow online casino gaming or online poker include Nevada and Delaware. This year, California is another big player which will be eyeing the passage of online poker legislation.