New Jersey Gambling laws
New Jersey is the premier destination for all the casino resorts located in the Atlantic City. The gambling in New Jersey include the casino gambling in Atlantic City, horse racing, betting, amusement games and social gambling.
We at Casinos.Live, bring to you all the highlights about the New Jersey Gambling laws which include its history, licenses, legal procedures, regulations and future insights.
New Jersey Gambling Laws: Its Brief History
The history of New Jersey Gambling dates back to 1969 where New Jersey approved and began its first state lottery in order to fund education within the state. Well, this marked the beginning of gambling in New Jersey.
Later in the year 1976, gambling was legalised in New Jersey. It was the Garden State which gave New Jersey the authority to open a land-based casino for the purpose of funding money for the elderly and the disabled. It was only after two years that a casino was officially opened in the Atlantic City. After this, 16 more casinos were opened in the Garden State and most of them were located in the Atlantic City.
When did the online casinos emerge?
Well, it was in the year 2011, the Governor of New Jersey, Chris Christy rejected the first bill which was written to legalise the online casinos in the country. However, after two years a new bill was introduced and also signed into law. It was in the year 2013 that the online casinos offering both online Poker and Casino games went live for the very first time.
Types of Online Gambling made legal in New Jersey
Casino Gambling is legalised in New Jersey for both online and offline casinos. The online casino gambling in New Jersey was legalised in the year 2013 with a condition that the players must ensure that the online casino they choose to play with must be owned and managed by a physical owner. Besides these, the players must also be located in New Jersey.
The New Jersey Gambling laws state that both online and social poker games are legalised in Atlantic City. The casinos in New Jersey have numerous international partnerships with casino license holders so that the players can choose from various poker rooms available online.
The Bingo games are permitted within the state of New Jersey. A majority of the online casinos in New Jersey offer fascinating Bingo games with rewarding bonuses.
Sports betting is still not legalised in New Jersey. However, it is allowed only in one of the state’s three authorised racetracks.
New Jersey casinos have a fantastic array of popular lottery games which you are sure to take delight in.
Licensing Procedure and Fees Applicable
A2578 is an authorised body which allows certain state lottery functions to be conducted. This body allows the land-based casinos in New Jersey to apply for the online gaming license by partnering with a software operator or doing it independently.
The casinos who wish to apply for the license must make a non-refundable deposit of $1000,000. Once the license is approved, the casino must pay a renewal fee of $250,000 and an annual fee of $250,000 every year which directly goes to the state’s mandatory gambling treatment programs. Apart from these, the online gaming operators must pay 15% tax on their gaming revenue, as well as 2.5 per cent to the Casino Reinvestment Development Authority (CRDA).
After the casinos have obtained their license, they must seek a transactional waiver before they begin their online gaming operation with the New Jersey residents. This allows the online casinos to be opened for a limited number of players for limited number of days. It is during this time, the regulators closely scrutinise the gaming sites to make sure that the players are safe and the casinos are following all the rules and regulations that they are obliged to. Only if the New Jersey Division of Game Enforcement finds the gaming site to be well-maintained, the casinos will receive the authorisation to fully open to the residents of New Jersey.
New Jersey Online Gambling Regulations
- It is the Division of Gaming Enforcement (DGE) who monitors and controls all the activities relating to gambling. Their major functions include:
- Ensuring that the various games offered by the casinos are fair and safe
- Checking the integrity of information systems
- Monitoring violations
- Assuring the players with honest casino employees, gaming operators and vendors
- Examining the licensing authorities
Playing Real Money Games at New Jersey Online Casinos
The following are the prerequisites for playing the real money games in a New Jersey online casino:
- The player must be 21 years and above to play the real money games offered in a New Jersey online casino
- The player must be located within the state of New Jersey
- The player need not necessarily be a New Jersey resident
- The player can fund a user account from anywhere in the country but cannot play for real money
Besides these, the players must also fulfil the verification process as specified by the online casinos before they begin playing the online casino games. All the details submitted by the players to the casino are checked and verified with the geolocation software. The online casinos also cross-check the player details with both credit reporting agencies and public databases.
Future of New Jersey Gambling
Presently, the state gambling authorities are trying their level best to legalise Sports Betting. One of the key features of the New Jersey Gambling is that the players can only gamble in the licensed and authorised venues of Atlantic City or the four racetracks.
The future of New Jersey Gambling looks extremely bright as they have a real chance of becoming one of the leaders in online gaming. Having partnered with a number of top-notch gaming providers, New Jersey is certain to set its place in the online gaming industry.
SummaryName: New Jersey Gambling laws
Author: Charles Richter
Published Date: 10/12/2018