New Jersey will expand online gambling by introducing a bill that will allow bets from outside States to be taken.
Senators Raymon J. Lesniak and Jim Whelan introduced the bill, which will allow New Jersey to enter into reciprocal agreements with other states or countries where online gambling is legal, last week. Accordingly, players in outside jurisdictions will be able to play at the first online gambling sites launched in New Jersey in November 2013. Currently anybody who wants to gamble online is required by law to be located in New Jersey. The legislation’s main goal is to give Atlantic City casinos access to the global online gambling market.
“This opens up the worldwide market to us, the $30 billion Big Kahuna,” said Lesniak.
The bill will also affect payment processors, who will now be required to obtain a casino-industry service licence. This will be preceded by a background check to persuade banks to allow the easy use of credit cards. Currently banks are reluctant to allow credit cards to be used to fund online gambling accounts, a legacy of the declaration of online gambling as an illegal practice.
Lesniak assured credit card issuers that the scrutiny applied by payment processors should make them more open to online gambling transactions. The bill, if approved, could bring a new market of players to the budding New Jersey online gambling industry. Until now, online gambling in New Jersey has been met with considerable approval, and a bill of this nature would do much to establish the State as a major American online gambling hub.
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