New Jersey Legalises Online Gambling

Last week New Jersey governor Chris Christie signed the long awaited legislation making real money online gaming legal within the state. New Jersey is now the third state to legalise internet gambling, following on from Nevada and Delaware who passed the bill earlier this year.

Speaking of the legal developments, Chris Christie said: “This was a critical decision and one that I did not make lightly…” Christie had originally rejected the bid but appears to have been satisfied with the revised legislation which included the changes she had requested. The updated version of the bill included setting a 10-year trial period for online betting, and raising the taxes on the Atlantic City casino’s online winnings from 10 per cent to 15 per cent.

The new law also means that players will have to be physically present in the individual legalised state when gambling online. However, it is likely that a number of other states including Hawaii, Illinois, Iowa and California will follow in the footsteps of the three legalised states creating the potential to combine gambling offerings and increase jackpots.

Christie added: “with the proper regulatory framework and safeguards that I insisted on including in the bill, I am confident that we are offering a responsible yet exciting option that will make Atlantic City more competitive while also bringing financial benefits to New Jersey as a whole.”

It is expected that the new legislation will significantly benefit New Jersey in a financial sense; budget figures released shortly after the legislation was passed suggest that contributions to the state’s Casino Revenue Fund are likely to sore from $235 million this year to $436 million by next year, largely due to the increase of online gambling revenue.

As a result of Christie’s signature, European based operations, such as William Hill, Money Gaming and Bet Fair will be able to apply for gaming licenses, allowing them to target their real money online gambling products to the intrastate market.

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