In a bid to increase revenue, New Jersey is allowing internet gambling, which includes not only poker but also the full range of casino games.
Republican Governor Chris Christie signed the legislation allowing online gambling this year in the hope of generating $1 billion during its first year and eventually adding $150 million in tax revenue to the state budget.
H2 Gambling Capital valued the US market at around $9 billion over the next five years, especially if bigger states like California, which are currently considering internet gambling, start to allow it.
The move had analysts watching New Jersey not just to see if it can raise revenue but also to see if new technology can assure that bets are placed only by individuals older than 21 and within state borders, as required by the legislation.
Aside from that, analysts also would like to see if the online expansion will make gambling addiction just a click away.
“It’s a new era of using the technology to meet what regulators are concerned about, to protect our children and our data,” noted Tobin Prior, chief executive officer of Ultimate Gaming, which is operating games via Trump Taj Mahal in Atlantic City.
Online gambling was largely accepted in the US from the late 1990s to 2006, when Congress enacted a law that made it illegal for gambling firms to accept online bets for “unlawful” transactions.
Meanwhile, 2011 saw the Justice Department indicting the heads of three companies running online poker. However, a subsequent ruling by the department, released later that year, said that only sports bets are considered unlawful. The move saw states quickly taking advantage of the new market.
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