As it stands today, individual states are free to prohibit or practice gambling within their borders, while necessary regulations and limits are established on the interstate and this activity. In recent years, online games have seen more strict regulations. With the Illegal Online Gambling Compliance Act of 2006 (UIEGA), it was not explicitly prohibited, but online financial transactions were prohibited. This meant that all online financial transactions of gambling service providers were now illegal, which resulted in many overseas gambling operators excluding their customers from their services.
By existing in this legal gray area, it is no longer about whether online gambling will enter the US market. But when and maybe how, three states have legalized online gambling and plan to start offering bets by the end of this year. Naturally, a Las Vegas gaming company known as Ultimate Gaming was the first to offer online poker, but for now, it restricted it only to players in Nevada. New Jersey and Delaware have also legalized online gambling and so far other states are considering legalizing it in one way or another.
Gambling Legalization in the USA is historic
Frank Fahrenkopf, president of the American Gaming Association, said that “unless a federal bill is passed, we will have the most significant expansion of legalized gambling in the United States. I don’t think that is what anyone intended, but it is what we are seeing “. This raises many questions and, of course, concerns for many existing commercial casinos, as well as for American policymakers. Will legal online gambling mean fewer people in traditional casinos? Will this create a new source of income at the state and national level? What about taxes and regulations? An increase in players?
Many people, including Arnie Wexler, former president of the New Jersey Compulsive Gaming Council, have expressed concern that with all the good that this could do to generate income and income for individual states, there could be problems with an increase in the game compulsive. There is a particular concern regarding social networks in the USA. Since some places like Zynga have already started placing bets with real money.
Given all the questions and concerns, many hotel-casinos are already making plans to expand in online gambling to complement their physical casinos. Geoffrey Stewart, general manager of Caesars Online Poker has said: “Like any other business, you are always looking for the next distribution channel.”
Feel free to share your thoughts … what do you think about online gambling trends in New Jersey?