New Jersey makes Efforts to Regulate Online Gambling

With Nevada having adopted regulations for online poker, New Jersey missed its opportunity to become the first US state to regulate online gambling. The state is all set to take advantage of the change in opinion of the US Department of Justice (DOJ). Following the Wire Act clarification made by the DOJ, it is clear that the federal law permits online casino gambling.

Senator Ray Lesniak had been a proponent last year in the initiatives taken to regulate online gambling. Recently, Lesniak declared that he will try to get an online gambling bill approved by the legislature. New Jersey will become the Silicon Valley of online gambling if the bill is passed.

Lesniak introduced a Bill in August 2023

A bill had been introduced by Lesniak in August 2023. It addressed concerns raised by Governor Christie. The bill stated that fines worth $1,000 will be imposed by the government everyday on those operating online gambling sites illegally within the state. An additional fine of $10,000 will be imposed for advertizing illegal operations. The bill also stated that those who sign up with online casinos will have to be residents of New Jersey. They have to be present within the boundaries of the state when gambling online. The minimum age to access online gambling products was mentioned as 21 years.

Lesniak’s bill also stated that licensed online casinos have to pay $20 million a year to help the industry when it goes through a difficult phase. Casinos have to continue to pay the amount for three years. $100,000 will be set apart every year from the revenues of online gambling. The amount will be used for funding programs to help people with compulsive gambling. The bill also stated that players will have the option to set limits regarding the maximum amount that they want to wager or lose within a specified time frame.

Lesniak’s Bill not Yet Scheduled for Voting

January 9 ^th is the last day of the present legislative session. Till now, the bill introduced by Lesniak has not been scheduled for voting on January 9 ^th . Lesniak stated that he will try to get the bill approved by committees on January 5 ^th . He will then present the bill for approval on January 9 ^th before the Senate and the Assembly.

Related Posts:

• Justice Department Changes Opinion Regarding Online Gambling in the US
• DOJ Announcement Led to Rise in Stocks of Gambling Firms
• US Casinos
• US Casino Sites
• Playtech-Powered Boyle Casino Launched