(CNBNewsnet)(January 10,2019)--Until recently, many New Jersey casino enthusiasts have been facing significant challenges when it comes to accessing their favorite games online. This is because not all states in the US are licensed to offer real money online casino games. The New Jersey Legislature passed bill A2578 in February 2013 to allow online gambling to start. However, the law permitted only adults with the age of 21 years and above to join online gambling sites. Currently, Atlantic City has some of the most reputable online and brick and mortar casinos in the US market. In fact, the state recorded gross revenue of over $25 million from online gambling alone in the few past months, and it is expected to increase with time. Continue reading to learn more about online gaming in NJ including fees, taxes, licensing, games available, advantages of playing at licensed casinos and much more.
Licensing, Taxes, and Fees
The new bill, A2578 that was passed allows New Jersey-based land-based casinos to apply for a gaming license and partner with a reputable software developing company. All applicants must pay a non-refundable fee of $1000,000, of which, $400,000 will cover the actual gaming license. In addition, there is an extra Must pay the fee of $250,000 renewal fee on all approved casinos and another $250,000 annual fee which is channeled towards the state's special gambling programmes. Also, all iGaming operators must pay a 15% tax rate of their gross gaming revenue and 2.5% to the Casino Reinvestment Development Authority (CRDA).
Regulation of Online Gambling
All forms of online gambling in New Jersey fall under the docket of Division of Gaming Enforcement (DGE), which is also in charge of:
⦁ Vetting of all license applicants
⦁ Enhancing honesty in casino employees, vendors, and operators
⦁ Ensuring that the available games are fair
⦁ The integrity of the information systems
⦁ To monitor for the exclusion list violations
Steps from Licensing to Final Approval
Before the casino operator opens its site to the public, they must acquire a transactional waiver from the Division of Gaming Enforcement. This temporary permit allows the site to operate in "soft launch" mode, during which, it will only be operational for specific hours and to a limited number of players. The soft launch mode allows the licensing authority to scrutinize the site to ensure that it is safe and secure for use by the public. The full license will only be issued when the DGE is satisfied with what the operator is providing.
Sports Betting in New Jersey
In May 2018, US states won the rights to decide their fate when it comes to online sports betting. The United States Supreme Court allowed PASPA the authority to offer legal betting on all sportsbooks. As such, New Jersey quickly passed the bill that permitted qualified and reputable license holders ( both land-based and brick and mortar) to offer sports wagering. By August 2018, the first online sports betting site - DraftKings Sportsbook - was already up and running. The market has, since then, expanded with more operators such as William Hill, 888 Sports, PointsBet, FanDuel Sportsbook, and many more.
Available Online Casino Games
According to bill A2578, online casino operators are allowed to offer favorite to players. If you are new to online gambling, we have given a short description of each game below to help you.
Online Slots: This is the most popular and easy to play luck-based games. They range from classic three reeled, 3D slots, HD slots, Video slots to Progressive jackpot slots.
Online Blackjack: This is a game of skill whereby the objective of the player is to beat the dealer or make a hand close to 21 but not exceeding it.
Online Roulette: Roulette is a favorite game of skill where the player's goal is to predict where the ball will settle after spinning. The three main roulette variants are American, French and European roulette.
Other Games: You will also find common games like online poker, video poker, online craps, Sic Bo, online bingo and online baccarat offering multiple opportunities of winning.
Advantages of Playing at Licensed New Jersey Online Casinos
Players who choose licensed NJ online casino sites to enjoy the following benefits and many more:
Wide Game Selection
Most licensed operators provide NJ punters with the opportunity to play from an assortment of games such as blackjack, slots, roulette, baccarat, and poker. All games are available in trial mode and real money versions.
Reputable Game Providers
The games are powered by some of the renown software developing companies in the iGaming world like Net Entertainment, Playtech, and Microgaming.
Multiple Payment Methods
New Jersey online casinos support some of the widely accepted and secure deposit and withdrawal options such as Debit and Credit cards, Cryptocurrency, Pay by Mobile, and eWallets.
Mobile Compatible Games
Most casino games are optimized to be played on small screen devices like smartphones and tablets. Some of the games are available in instant play mode while others come in the form of downloadable software.
Bonuses and Promotions
Casino operators use lucrative bonuses offers to attract new players to join their sites as well as loyal customers to continue using their platform. The common types of rewards include a welcome gift, reload, match up, loyalty and VIP bonuses. The essential thing is to read and understand the terms and conditions such as the wagering requirements that come alongside the free offers.
Online casino games are backed with Random Number Generator (RNG) software to ensure that all the results are fair and random. Additionally, each game is independently tested by third-party testing labs to ensure that they are fair and safe to play.
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