NJ Looks to Extend Gambling Law
New Jersey was one of the first states in the country to legalize online gambling. Since 2013, the state has seen a huge increase in revenue and massive growth within the industry. With over 30 online casinos now operating in the state, New Jersey could face some changes. The law that was passed was effective for 10 years. With that time coming to an end, New Jersey lawmakers will have to pass a new bill to extend online gambling laws for another 10 years.
Us Business Magazine experts reviewed the topic of online gambling in New Jersey.
Many are in support of extending the law to allow residents the ability to gamble online. The casinos and sportsbooks operating have been successful in generating millions in revenue that is used for economic benefits throughout the state. During the many shutdowns during the pandemic, online gambling was one of the main sources of revenue.
Possible Arguments and Roadblocks
While there is a great deal of support for extending a bill for an additional decade, some concerns are being raised. There has been a growing concern about the increased rate of gambling addiction in the state. Some lawmakers believe that more resources should be spent on providing problem gamblers with the help they need.
The Council on Compulsive Gaming of New Jersey’s director stated that people are in need of help. Gambling problems are often detected late, after problems have already presented. These gamblers have put themselves in debt, have lost homes and jobs, and continue to have easy access to online sites where they can play real money games.
Internet gambling can quickly lead to gambling problems. Since it is easy to access sites instead of driving to Atlantic City, more people are placing bets. This also means that more are losing and many have started to feel the negative effects of problem gambling. However, since players are free to access casino sites that are not just located in New Jersey there will always be increasing rates of gambling addictions.
What to Expect
Despite some arguments about the increase in gambling addictions, online casinos in NJ will not be going anywhere. The operating sites in the state have generated too much money for the state to choose to shut down operations. The major changes will come with how operators spend the revenue generated. A bill may be passed that would require online establishments to use more generated revenue for offering gambling problem help.
If for some reason, something does block a new law, players in New Jersey still have access to offshore operations. Just like in other states where online gambling is not legal, such as Florida, players can choose to engage in real money play at an online site operating in another country.
There are also many social casinos that have emerged as well as gambling apps. With these options, new gamblers can test out some great table games for free before they make a commitment to a real money casino site. Thousands access sites each day to play top games. By not extending the law, New Jersey faces a massive financial loss. This is the main reason we expect new laws to pass with no problem.
