The legislation must now be signed by Governor Chris Christie, who has yet to declare his position on the bill. It would also become law if the first-term Republican doesn't sign it within 45 days.
“This is a historic day for New Jersey,” read a statement issued by Anthony Singer, President and Chief Executive Officer for High 5 Games.
“With the state legislature's decision to legalize Internet gaming, New Jersey now becomes the center of the US iGaming industry.
“With the state legislature's decision to legalize Internet gaming, New Jersey now becomes the center of the US iGaming industry.
Details of the bill indicates it allows not only for poker to be offered online but also casino games and other forms of gambling. The intrastate poker system would allow for easy deposits and withdrawals in New Jersey, but it would also wall off the state so New Jersey residents could only play poker with other people in the state. So while it will encourage casual players to play now that it's fully legal and easy to deposit and withdraw, the player pool will be limited, which could discourage some.
New Jersey had jockeyed with California and other states to be the first with their legislation. Apparently, the long standing relationship with Atlantic City and the proven history of the New Jersey Control Commission assured legislators that they had the right formula for effective monitoring of this new gambling forum.
The new poker and gambling websites are to be run by land-based casinos operating in the state with operators required to pay $200,000 for an initial one-year renewable license, with the fee dropping to $100,000 in subsequent years.
Zimba analysis:
The entire gambling community, both international and domestic, will be looking to see how things transpire in New Jersey They will want to know how they can get involved and replicate similar models in other states. The biggest issue that I see is will the walling off of players will be too detrimental to overcome for the online economy. Some have suggested that states could eventually combine their efforts in regional or select state groups that share a similar approach.
One big uncertainty remaining is how the big sites like PokerStars and Full Tilt Poker will respond to this new legislation. Will they pull out of New Jersey, like they did in Washington or continue to offer their services.
The entire gambling community, both international and domestic, will be looking to see how things transpire in New Jersey They will want to know how they can get involved and replicate similar models in other states. The biggest issue that I see is will the walling off of players will be too detrimental to overcome for the online economy. Some have suggested that states could eventually combine their efforts in regional or select state groups that share a similar approach.
One big uncertainty remaining is how the big sites like PokerStars and Full Tilt Poker will respond to this new legislation. Will they pull out of New Jersey, like they did in Washington or continue to offer their services.
