New Jersey Online Gambling Regulations Ready

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American online casino players are more interested in the progress in New Jersey than in Nevada because the former has included casino gambling in its purview. Nevada is legalizing only online poker. The good news for them is that the New Jersey Division of Gaming Enforcement is acting fast. A preliminary draft of the proposed online gambling regulations is ready and has been circulated to a restricted list. The final draft is due for publication on June 3 for public comment. No date has as yet been set for online gambling going live in New Jersey. But with the progress made by the regulatory authority, it is widely expected that the December 2013 estimate will be met. David Rebuck, the Director of the Division of Gaming Enforcement, said that he will specify a date on which casinos can start taking online bets at least 45 days in advance.

While announcing the release of the preliminary draft, Rebuck pointed out that New Jersey has once again proven to be in the forefront of casino gaming. Online gambling regulations have been developed for all casino games. Rebuck also stated that they had studied the prevalent gambling regulations in other online gambling jurisdictions and adopted the best practices from those. He specifically named Nevada, Alderney, France, Spain, Italy and Denmark. The Division of Gaming Enforcement had also reviewed standards set by the USA Federal Reserve regarding network security and the practices recommended by the National Council on Problem Gambling.

The 77-page draft is available at the web site of the New Jersey government. Some of the important areas addressed include verification of the age of applicant online casino players, ensuring that they are within the state borders and putting in place measures against problem gambling. One of the proposals is that players will be allowed an initial deposit limit of $2,500. Once the player’s total life time deposits reach this limit the system will not let him make any further bets until the player acknowledges having reached the $2,500 threshold. Thereafter the player will have to set daily limits on his wagering or will have to close his account. The regulations allow for compacts with other states where intrastate online gambling has been legalized to take advantage of combined player liquidity. This is to make online poker more viable. The licensees will pay an initial online gaming permit fee of $400,000 and an annual fee of $250,000 for creating resources to tackle problem gambling.

After the rules are published in the New Jersey Register on June 3, there will be a 60-day comment period. The regulators will then review and respond to the comments and release the final regulations.

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