New Jersey is Looking to Extend Online Gaming for Another Decade – Updated
The tenth anniversary of New Jersey’s licensed internet casinos will occur in 2023. It may hypothetically be the market’s final year as well.
A provision in the 2013 law that legalized online poker and casino games will soon reach its expiration date. Regulations for online gambling were put into place by the Division of Gaming Enforcement in October 2013, and the first casinos opened the following month. In a little over a year, all iGaming websites would have to stop operating in the absence of further legislative action. (Sports betting, which was legalized by a different bill in 2018 might continue operating.)
Fortunately, the likelihood of it happening is extremely low. New Jersey is the US’s leading state for online gambling, and it’s difficult to imagine the state giving up on such a lucrative venture at this time and closing off best NJ online casinos indefinitely.
John J. Burzichelli, the last sponsor of the original 2013 bill, resigned from office earlier this year after losing his bid for reelection in 2021. However, in recent years, Assemblyman Ralph R. Caputo has taken up the cause of online gambling.
Another Decade in the Life of Gaming
In February 2022, Caputo introduced bill A2190, which would extend the life of the online gaming market for ten years, alongside Assemblywoman Annette Chaparro. The bill has two co-sponsors, Donald Guardian and Claire Swift.
If the legislation is approved, it will delay the end of online gaming until 2033.
Since its debut in February, A2190 has been a part of the Assembly Tourism, Gaming, and the Arts Committee. The online gaming expansion is on the agenda for the committee’s meeting on September 14.
Legislative committees’ role is to examine proposed legislation before it is presented to the entire legislature. There aren’t many things that the committee may disagree with given the bill’s extreme simplicity and the fact that online gaming is already legal in the state. Therefore, we anticipate that the meeting will mostly be a formality and that the law will pass without any issues.
What Will Other States Do With the Gaming’s Future
It is difficult to imagine so many lawmakers voting against the extension. For starters, policymakers and the electorate frequently favor the status quo. At this point, it would be much harder for New Jersey to put the toothpaste back in the tube given how difficult it is for states like New York and Illinois to pass measures expanding online gambling. It supports thousands of employment opportunities and generates over $100 million in tax income annually.
In addition, New Jersey has become the standard for online gaming operations in the US. For instance, the concept of allowing online operators market access through brick-and-mortar casinos was born in NJ. The same approach has been used by all other states that have approved online casinos and many more that have legalized sports betting. For the legislators, especially those assembly members who backed the initial 2013 initiative, that must be a source of pride.
The COVID-19 epidemic also illustrated the advantages of legalizing online gaming in a state. It caused the tax revenue from brick-and-mortar casinos to drop to zero, and even lottery ticket sales went down. The net loss to states like New Jersey was far more manageable, though, as the online market sky-rocketed.
The Committee voted unanimously Yes for the A2190, meaning that the expiration date for the authorization to conduct games through the Internet is extended to 2033.