The state of New Jersey is well known for being the home of Atlantic City, the second largest gambling area in the US. Ironically, their online gambling laws have remained quite strict despite other states’ becoming more flexible.
New Jersey’s senator has officially legalized (and regulated) online gambling, to a certain degree. The gambling industry in that state is currently suffering significantly and government officials hope that opening up their policy will help give it a boost.
The state is still maintaining significant control allowing online casino operators from Atlantic City to apply for licenses. No other operators will be approved. In an effort to appease land-based casinos and sports betting, residents will be able to gamble online from their personal computers, or at designated terminals placed throughout land-based casinos and at sporting events. The plan is to ensure that racetracks and casinos do not lose out to the more convenient online gambling. It is, however, likely that land-based betting operators of any kind will still see a significant difference in their numbers, as have casinos across the globe.
Legislators have also set the taxes high in a clear effort to put revenue back into the state. 20 percent of winnings from an online casino will go to the government for taxes; a significant amount when compared to other places where online gambling is regulated.