New Jersey Online Gambling Launch Update

Published Tuesday, November 05, 2013 -
New Jersey Online Gambling Launch Update

New Jersey and for the most part Atlantic City have been in the news a great deal regarding the regulated introduction of online gambling. The investment that the big brick and mortar casinos and hotels have in Atlantic City has been eroding along with the shore line for a number of years.

Now as the launch date for internet betting approaches the scramble is on to get the best seat in the house. Nine of the twelve land based casinos in Atlantic City have partnered with internet gambling operators to provide the cyber equivalent for punters in the Garden State.

Americans gambled an estimated $2.6 billion on offshore internet casinos. None of which is traceable or taxable. Governor Chris Christie has stated he thinks that during revenues in over $180 million can be generated by the introduction of online gambling in New Jersey. It has been suggested this estimate may be exaggerated somewhat, with analysts in other circles putting the actual number at $35 million during 2013/2014.

Comparing the revenue estimates in Nevada and Delaware the New Jersey offering is more complete and versatile. Nevada only has internet poker to offer while Delaware has a very small population from which to gain revenue estimated to be between 3 or 4 million. New Jersey has much more potential with it massive population and infrastructure in Atlantic City.

Although investors have become a little gun shy after the Black Friday crackdown on internet poker when those who had put their money in internet operator stock lost a bundle. Similar to the introduction of banking restrictions on internet gambling back in 2006 which shut down some operators in the USA shredding investment portfolios again.

Investors are banking on what New Jersey is counting on a resurgence of gambling and the return of a valuable revenue stream and employment. As the launch date of November 26 2013 approaches the share prices of the partnership firms such as 888 Holdings, Betfair and others will climb and gain momentum.

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