New Rules Regarding Legalization of Online Gambling
New Jersey is a significant player in the gambling industry for the USA setting a new president by providing state regulated online poker. New Jersey is one of only three states in USA to introduce regulated online gambling for poker. It now provide players protection in the form of state regulations and gets to capitalize on this new revenue stream. Not only is online poker fully functional in the Garden state but has also received a positive response from online casino enthusiasts.
Chris Christy approved state licensing for casinos allowing them to set up online gambling. The New Jersey Division of Gaming Enforcement was given the task of developing the nuts and bolts regarding the rules and regulations that will be enforced on players as well as operators of online gambling websites in the state. That process is continuous and ongoing with substantial progress expected by 2014.
One of the prominent factors of this new regulation is the requirement to have ownership by a company or a subsidiary of a company that owns a land based company within the state, prompting many online gambling site owners to purchase or partner with casinos in the state. One of the first companies to start the process was pokerstars.com when it attempted to buy an Atlantic City casino in 2013.
Another big player joined the bandwagon, was Gamesys Limited, the company that runs the jackpotjoy.com website. Gamesys Limited decided to partner with the Tropicana Casino in Atlantic City. Players should recall Gamesys Ltd. was the first company to offer real money gambling on facebook.com. The response by investors shows indicates that they see a pent up demand for online gambling in the State.
The performance of online gaming in New Jersey will be widely watched as it is now one of the few testing ground in the US.