New Jersey Publishes Draft iGaming Regulations
Online gambling in New Jersey inched closer towards its launch date with the publication of Internet gambling regulations on June 3. Once published, the public will have 60-days to comment and, presumably, amend the new code.
When the comment period ends on August 2, New Jersey lawmakers will provide their final review and commentary. After the regulations get their final approval, the Garden State will be just 45 days away from legal Internet gambling.
A draft regulations appeared on a Division of Gaming Enforcement website and will no doubt be devoured by gambling industry legal eagles. According to the website, Jersey regulators combed through regulations from across the world (including Nevada and Alderney) to come up with their version of regulated gaming.
Division Director David Rebuck was quick to trumpet his departments’ work and point out that New Jersey is not Nevada:
New Jersey has once again proven to be in the forefront of casino gaming with the development of Internet wagering regulations for all casino games. I commend Division staff for their commitment and diligence to developing regulations that ensure both effective oversight and the integrity of operations.
Not surprisingly, getting into the NJ market won’t be cheap. The regulations reveal that licensees will have to pay $400,000 as an initial fee and a $250,000 annual fee to stay in business.
As is stands today, New Jersey online gambling will be limited to players who are physically present in the state.
Do you think New Jersey online gambling will a boon or bust for affiliates? Share your thoughts in the comments section below.