New Jersey legalized gambling update

Feb 1, 2014 | USA Online Casino News

Over the last seven straight years, the New Jersey gambling market has been diminishing. The numbers have been rolling in lower, and lower by the year. In 2012, the state brought in $3.1 billion, in 2013 with the legalization and opening of online casinos, the state brought in a shy $2.9 billion which isn’t looking good for the regulated online casinos. Within the state, lawmakers felt that players would be more inclined to play online if they were residents of the state. Those who are visitors would prefer visiting the land based casinos but with the tourism market also suffering, the casinos are starting to disappear once again.

New Jersey legalized gambling update

The up and coming world of legalized gambling seems to be losing momentum in the state of New Jersey. Overall, the online gambling world as a whole has billions of dollars each year fleeting the United States as players choose online casinos that are actually based over seas. In an effort to save Atlantic City, New Jersey lawmakers allowed their casino owners to establish online casinos under their names, opening online casinos on United States soil.

The first online casino was opened six weeks ago, the rocky start proved to be much more rocky now that numbers have come in. Due to patch advertising and technical glitches, the state’s new gaming practices are struggling just as much as their land based casinos have been. At first, when the online casino went live, players were unable to sign up for an account if they were too close to the state’s borders. The location information coming from the internet service provider was showing that players were actually outside of the state’s borders leaving them ineligible to sign up for an online account.

Over the last seven straight years, the New Jersey gambling market has been diminishing. The numbers have been rolling in lower, and lower by the year. In 2012, the state brought in $3.1 billion, in 2013 with the legalization and opening of online casinos, the state brought in a shy $2.9 billion which isn’t looking good for the regulated online casinos. Within the state, lawmakers felt that players would be more inclined to play online if they were residents of the state. Those who are visitors would prefer visiting the land based casinos but with the tourism market also suffering, the casinos are starting to disappear once again.

Another theory is that the first run of online casinos, will be much like technical gadgets. Players will start to jump on board more and more once the bugs and glitches are out of view. With the addition of online gambling, from November 21st to December 31st, the state saw an extra $1.2 million come into the state’s marketplace. Initially, it was projected by many sources that the state could bring in around $10.5 million in the first six weeks of live casino sites, this was not the case here and was very disappointing to players, lawmakers and casino operators. In total, the gaming revenue is down 45 percent since the year of 2006 which leaves us only to believe that this may be the beginning of the end for Atlantic City. Unless, online gambling can make up for the missing half of the money the state needs, players will be left in the dark for online casinos as well as the New Jersey resorts.

Currently, New Jersey is one of three states to legalize regulated online gambling from their state. Many companies are interested in what the market will hold for them however within the law, the state has very strict guidelines as far as who can open online casino. One of those stipulations illustrates that a company must have a building and operate from within the state in order to open which many of the over seas countries are having a hard time establishing due to citizenship reasons.