Last Friday the New Jersey Division of Gaming Enforcement (DGE) unveiled their preliminary list of online gaming regulations that will be enforced in conjunction with the online gaming bill that was passed by the NJ legislature in late 2012 and signed into law earlier this year by Governor Chris Christie. These regulations cover every aspect of online gaming and include player and provider rules. They are subject to change up until June 3, 2013. Here is a look at some of the more pertinent regulations that will be in place in New Jersey.
Player accounts can be created through any licensed Atlantic City casino either over the Internet or in person. All players must submit to verification check and must provide personal information including their social security number.
Casinos must divulge rake structures, Privacy Policies, where to get help for problem gamblers and other information when the person is registering account. The casino will also have to admonish the player that allowing another person to use their account is a criminal offense, as is allowing anyone under the age of 21 (which seems a bit redundant unless the penalties are different).
Deposit and Withdrawal Methods
New Jersey players will have several deposit and withdrawal options available to them. The simplest is to use a credit or debit card (anyone depositing via this method can choose to receive a withdrawal up to their deposit amount credited back to their card). Other options that will be available for player deposits are Bank wires and pre-paid cards. The final method is to physically go to the casino and either cash in comp points from an Atlantic City casino or fund your account with cash.
Most of the other information is more technical with a few exceptions that I will list below:
- All player funds must be segregated
- Players may set loss and time limits on their play or self-exclude themselves. This information will also be provided automatically to any player who deposits over $2,500 in a single year.
- Player complaints must be investigated within five days, with the New Jersey Division of Gaming Enforcement informed of the process.
- Unlicensed operators will be subject to a $1,000 fine per player per day. A $10,000 fine will be assessed to any unlicensed operator who advertises their product.
- Licensing fees will be $400,000 for the first year and $250,000 annually. Providers will also pay a 15% tax on revenue to the state.
- All games offered online must resemble live games and must have the same odds.
- Interstate gaming would be allowed.
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