New Jersey and Nevada to Compete for Online Gambling Market
New Jersey and Nevada have long competed over land gambling, and thanks to the signing of new laws in both states, they will soon be competing for the online gambling market as well.
According to industry executives, the key to who dominates the market will be how it is regulated in the different states.
The regulation will also affect the interstate compacts which are likely to quickly expand the market.
The director of the Interactive Media Entertainment & Gaming Association Joseph Brennan Jr. said that “Nevada is jumping on this very quickly. They clearly want to pit themselves against New Jersey.”
After Nevada signed its bill the state’s Assembly majority leader, William Home, couldn’t resist digging at New Jersey adding “As to our competitor, New Jersey, they should be accustomed to following Nevada.”
Already Nevada has around 20 applicants from different operators to be licensed for online gambling. While New Jersey’s initial regulations are expected to be ready soon.
David Rebuck, the director of the New Jersey’s Division of Gaming Enforcement, says that the agency has been studying regulations for online gambling in 85 jurisdictions which currently allow it and intends to adopt the best practices of those governments.