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New Jersey Releases Draft Of Proposed Rules For Online Gambling

77-Page Document Provides Some Details For How Business Would Run

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This week, Atlantic City gaming regulators released a draft of proposed regulations for the Garden State’s upcoming online gambling industry. The rules are pretty similar to Nevada’s set.

Each of Atlantic City’s 12 casinos could apply for an Internet gaming license, which would allow them to accept deposits in a number of ways, including at the casino cage. Casinos could offer a wide array of web casino games, including online poker.

Service providers, or commonly known as business-to-business technology firms, will need to be licensed by the state as well. For example, if PartyPoker wanted to take action on behalf of licensed MGM casino, it would also need to get regulatory approval.

New Jersey’s online poker industry would be intrastate, meaning it’s for residents and visitors, but eventually deals with other jurisdictions would provide access to additional players.

Sites will pay 15 percent for taxes, in addition to a minimum $400,000 licensee fee and a minimum $250,000 renewal every year.

Not surprisingly, New Jersey regulators will create a number of safeguards to make sure player funds are safe and secure — or in other words, in segregated accounts, which was a horrific problem in the past with online poker as Black Friday displayed. Additionally, technology to spot collusion or other forms of cheating will be present.

New Jersey Gov. Chris Christie legalized online gambling in February.

For more news from New Jersey, check out its state page.