New Jersey Gaming Enforcement: Sites Can Go Live November 26th
The date that has tentatively been circulating for months, November 26th, has been confirmed by the New Jersey Department of Gaming Enforcement as the go day for real-money online gambling in the state.
The Department has released its long-awaited final regulations, which can be found on their web site here. The DGE will publish the regulations in an official manner on October 21st.
State will be ready, though which sites will launch is unknown
For months now, gambling industry experts and the media have been speculating as to whether or not the Garden State would be able to meet its established launch date.
Now that New Jersey officials have confirmed that the state has everything in place to adhere to the November 26th launch, it still remains unclear which iGaming sites, if any, will be prepared to accept players on that date.
Said David Rebuck, head of the New Jersey Department of Gaming Enforcement, "Casino licensed Internet gaming permit holders will be authorized to commence full Internet gaming on November 26th, 2013 at 9:00 am EST."
Those companies who have been approved will appear on a list that the DGE will provide via its web site.
Regulations will require 5-day test period
Under the terms of the state's iGaming regulations, all approved operators will first need to go through a so-called "soft launch" period, essentially a trial period, that will last five days. Thus, those sites that wish to launch real-money games on November 26th must first "soft launch" on the 21st of November.
Players will be able to use the sites in this test mode by invitation only and the games will simulate real play on the sites.
New Jersey launch has been highly anticipated
The commencement of Internet betting in New Jersey has been a big topic in the world of online gambling all year. New Jersey's Republican Governor, Chris Christie, signed the state's online gambling bill into law back in February, making New Jersey the third state to enact online wagering legislation and by far the largest, population-wise, to do so.
Nevada and Delaware have also passed laws to regulate online gambling; in Nevada, where two sites have thus far opened for business, only online poker is permitted. Delaware, like New Jersey, will permit a comprehensive array of Internet-based betting options.
The introduction of online gambling to New Jersey is expected to have an enormous positive impact on the state's struggling gambling economy. Atlantic City has seen its revenue tank for six straight years, and officials and casino operators there hope that the new real-money wagering sites will bring in a newer, younger gambler to the state's seaside gambling mecca. Players will be required to be physically located in New Jersey when accessing the real-money betting sites.
Market anticipated to be lucrative for the state
Analysts have predicted that in states where online wagering has been regulated, tens of millions of dollars in revenue could potentially be generated. In New Jersey, the law requires that iGaming operating licenses be tied to land-based casino operations in Atlantic City, a requirement that has resulted in a slew of partnership deals being announced in recent months.
Not only are New Jersey officials anticipating the launch of the marketplace, so too are neighboring states. All up and down the Eastern seaboard, states have been engaged in a casino race as each looks to poach gamblers - and their money - from the others.
New Jersey will be the first in the region to offer real-money gambling via the Internet, though if the proliferation of online casinos in any way resembles that of its brick-and-mortar counterparts, we're betting that it won't long stay the only state on the East coast allowing residents to log on to place virtual wagers.
Check back with us as we continue to monitor the launch of iGaming in New Jersey.
