Online Gambling Sites in New Jersey

New Jersey online gambling industry is expected to earn around $500 million annual revenue. The state will subject online gambling revenue to a tax rate of 15%. In Atlantic City, gross gaming revenue is 8% which is much lower than the 15% online gambling tax rate. However, Casino owners in Atlantic City are required to reinvest 1.25% of gaming revenue into capital projects in order to generate additional jobs. This tax will not be imposed on online gambling revenue.

Launch date for online poker and casinos is November 26, 2013 with a prior 5-day test launch to ensure proper functioning of the systems. All gaming servers are required to be located in Atlantic City and online players must be physically located in New Jersey at the time of play.

Only Atlantic City casino owners are allowed to operate online gambling in New Jersey. Out of the 12 potential operators, 10 already have potential software providers while Atlantic Club and Revel have yet to announce a partnership. Atlantic Club and Revel are not joining the industry at its launch.

The New Jersey Division of Gaming Enforcement received application for interactive gaming license from more than 70 companies but only around half of these have come forward.

New Jersey hopes that legal online gambling can improve its weakening casino industry. Since Atlantic City has been experiencing difficult times, New Jersey ranked third in the United States for the first time in 2012. This ranking is based on based on annual gaming revenue. Hard times for Atlantic City began in 2006 with revenue falling every year.

Others hope that Atlantic City will benefit from the launch of legal online gambling in New Jersey because it has large population bases at its borders compared to the only other two states, Nevada and Delaware, where online gambling is legal. New York City and Philadelphia players are only a short drive away from playing online poker or casino games in New Jersey.