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New Jersey Releases Online Gambling Regulations

New Jersey Releases Online Gambling Regulations

Last week New Jersey took another step towards internet gambling when it issued regulations on how online betting is to be handled.

New Jersey Releases Online Gambling Regulations

New Jersey has moved one step closer to online gambling with the release of regulations governing the handling of bets

The rules were released by the state Division of Gaming Enforcement and included techniques on verifying the geographical location of the player, a 15% tax on casinos’ online winnings and also adds cautions for those at risk of developing a gambling problem.

No date has yet been set for when online gambling can be launched in the state, but it is expected to be before the end of the year. The Division’s directory, David Rebuck, said “New Jersey has once again proven to be in the forefront of casino gaming with the development of Internet wagering regulations for all casino games.”

Furthermore, the rules will allow New Jersey to make agreements with other states or countries to offer internet gambling so long as it is legal in both locations.

The introduction of online gambling will be the biggest expansion of gambling within the state since the first casino opened in 1978.

According to Rebuk, other jurisdictions gambling regulations, such as Nevada, France, Spain and Italy, were studied and a number of their best practices have been adopted.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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