Gov. Christie still has some conditions for the bill
Finally, Gov. Chris Christie has made his decision regarding the online gambling bill in New Jersey and while casino operators don’t have the green light just yet, it does seem like things are not far from it. The conditional veto made by Christie means that there are some issues which he didn’t find acceptable but the conditions are not very hard to meet which is quite the surprise.
He certainly took his time before making any harsh decisions as this was the last day of the deadline and the response came in the very last hour. Gambling operators as well as players from the state of New Jersey can now breathe a sigh of relief knowing that online casino games will soon be available. Most people were concerned about Christie simply eliminating all the non-poker parts of the bill and just make it something similar to the regulations now found in Nevada. However, this did not happen and New Jersey is now on the path of becoming the central hub for internet gambling in the United States.
Christie declared that it is the time for New Jersey to advance and lead the way for the entire nation. This will highly increase the level of entertainment in Atlantic City as well as the traffic from gamblers that want to try out the new options in a secure and regulated environment.
The veto has 31 pages and amongst the recommendations from Christie, there is a 10-year clause that will allow legislators to make any changes required after one decade of operations. This is in order to make sure that as the gambling industry in the United States evolves, so will the regulations which will start this year. There is also the possibility of a federal bill to happen over the next ten years so that is surely something that needs to be taken into consideration.
Another recommendation is that the internet gambling tax should be 5% bigger than the proposed 10% so operators will now have to pay 15%. A major change proposed by Christie is that the bill should allow the state of New Jersey to offer its online gambling products to other states that are willing and able to use them. An intrastate agreement does sound pretty good but it is unclear why he proposed this change for the bill.
He also touched on the common concerns regarding underage gambling and money laundering. This is why the gaming regulators will have a large authority over the new industry and will work on creating a reliable framework that will put these concerns to rest. The operators that will be licensed will have to fund special programs to fight problem gambling as well as present annually stats regarding the effects of online gaming on the gamblers in New Jersey.
There are also other recommendations that will have to be covered before the bill allows online gambling in New Jersey.
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