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Posted August 31, 2013 by John Baintree in News
 
 

Online Gold Rush in New Jersey

New Jersey has long been a safe haven for gambling within the United States, being home to Atlantic City, the second most popular gambling destination in the US. New Jersey is set to consolidate this reputation in the aftermath of legalising online gambling. No site for online gambling exist within the state yet, but plans cite November as the period for which gambling sites will be made live.

The legislation concerned with online gambling within NJ highlights that only companies who operate physical casinos within the state are legible to operate online games. Many of the casinos, however, have decided against developing their own unique games software, instead opting to use pre-existing gaming software from other vendors. The brings the total of companies who have filed for onine gambling licenses within NJ to ta total of 37 – including all 12 of Atlantic City’s casinos.

The need to supply existing software to the physical casino brands who want a slice of the online action will see foreign investment in the industry, with European gaming giants Bwin.party and 888 Holdings offering their services to the casinos of Atlantic City.

However, the legalisation of online gambling is a controversial move. This article from Time highlights how online gambling will surely have a negative impact upon the physical casino industry of the state, which is already in decline. In addition to this, the movement is also facing some objections from the local community, who believe online gambling will have undesirable social consequences.

There is no doubt that should it be a success, there is a huge amount of revenue to be made from NJ’s venture into the realms of online gambling. One Deutsche bank official has estimated that the online gambling industry would bring in $275 million per annum.

New Jersey is the second state to offer fully fledged online gambling, a movement initially pioneered by Nevada. These two states were already accustomed to gambling, both being home to wide scale gambling operations for many years. What is an interesting thought though, is to what scale do these developments regarding online gambling reflect the attitudes of the US as a whole. Is the legalisation of online gambling the result of two highly desensitized communities, and therefore an anomaly to wider American thought? Or can it be expected that more states will fall into line and legalise online gambling?

The future of online gambling within America is hard to predict, with the movement still being in its infancy. What is certain though, is that gambling enthusiasts are clawing back ground, reaching pre ‘Black Friday‘ levels in the availability of online gambling, albeit in two specific states. Whether or not it will spread to other states, or made more accessible to those outside of the initial states is unlikely at this time, however the profits the sites post and the emergence of wider social ramifications (if any) may influence this decision in the future.