Since the official launch of the New Jersey Division of Gaming Enforcement in late November 2013, the market of the gaming industry has been steadily growing. As it turns out, it has entered its maturity phase. There are 5 operators, and a few more online gaming sites New Jersey casino players can join and enjoy. Some of the best casino games Europe (EU) players and players from other regions have enjoyed more than a decade.
It has met the expectations of both the operators and the players who are eager to get more content, better service and a liberalised selection of payment options.
· Although Small, It’s a Very Important Online Gaming Market
It’s no secret New Jersey is a small market with only a few online casinos competing for a much-desired market share. However, it’s not important because of the profit potential. Instead, it’s a great source of data, player feedback, market analysis and “field testing”. These operators can legally entertain USA players and get the necessary insight if the opportunity for an expansion ever comes.
The US laws and regulations in regards to online gaming are rigid, and they’ve put the US years behind other online gaming markets. This is the case due to strong lobbying by bricks and mortar casino owners. It’s an unparalleled pressure, with basically limitless capital and funding. Politicians are obviously taking the bait.
New Jersey is the stepping stone EU casinos needed to enter the unexplored USA online gaming market, which is in hindsight.
· $108,000,000 in Taxes Collected to Date
Legalizing and controlling online gaming activities is the way to go. If there’s demand for any given service, regardless of its legal status, a provider will come forward and will provide the said service. The USA audience has been entertained by online casinos that are in the grey area. Frauds, unfair treatment, untested games, fully uncontrolled online casino operators and dissatisfied players were expected and had duly manifested.
By adopting a different approach, the New Jersey authorities have managed to collect a little over $108,000,000 in taxes from online gaming activities. Moreover, it’s been requested operators to pay close attention to how they advertise their services, and they must adhere to more rigorous control systems, way more rigorous than what we’ve seen in Europe.
NJ Betfair Casino Powered by Golden Nugget At the Very Top
Betfair gained access to the New Jersey market thanks to Golden Nugget’s license. Overall, to this very day, Betfair has reported the highest Casino revenues, excluding poker. Nevertheless, this is a huge success. In total, it’s a neck to neck battle between Betfair and 888 (powered by Caesars). Borgata Casino is $40,000,000 ahead, thanks to its online poker operations.
It’s been nearly 4 years since this market was created and we’re already witnessing how operators are breaking lances. Nonetheless, if we consider the expertise these operators have, the knowledge and the skills, this is going to be one long and interesting to follow competition of some of the most prominent online gaming and online sports betting companies in the world.
· Taxes, Jobs, Controlled Casino Operations and More
Collecting taxes is not the only feature of legalized online gaming activities. Thousands of new jobs have been created since the establishment of this particular market. On top of this, the authorities have clear indications of how fond are their citizens of online gaming. In other words, players are given the opportunity to enjoy online casino games, but the authorities have a good grip on them. In the event of increased irresponsible gambling, the regulator can enforce additional charges which fill eventually fund the protection and treatment of the said “irresponsible” players.
Lastly, money laundering is prevented. Without monitoring dirty money is easily laundered. While we’re here, US casino players need more alternatives when it comes to payment options. For the time being, credit cards and ACH transfers are the most efficient methods they have at their disposal.
Will the Other States Follow New Jersey?
The short answer is, highly unlikely. Why? Because the US Gambling Commission aka the Gaming Control Board has already made its decision. Online gaming will remain illegal on a federal level, and there are no signs this will change in the foreseeable future. The land-based casino lobby is too strong for the time being. Unless a miracle happens, gaming enthusiasts will be compelled to leave the comfort of their homes and find a local casino to enjoy their favourite games.
Perhaps, the results the New Jersey Division of Gaming Enforcement has will be enough to make other states reconsider their decision. Online gaming has to conquer the USA state by state, one battle at a time. Online sports betting, but sports betting in general as well is precisely in the same basket.