New Jersey proves, once again, US online-gambling laws wrong
February 12, 2014
The latest researches about the online gaming market from the US state of New Jersey have brought up once again the need of a new gambling regulation in the United States. The report from expert authority Commercial Intelligence (CI) has shown that regulated markets can be much more productive and efficient than a banned industry. During the celebration of the ICE Totally Gaming Exhibition, London's annual fair for the international gaming industry, the gaming research firm has revealed the most up-to-date details about the reality of the regulated online market in the US state of New Jersey. New Jersey's online gaming regulation has primarily increased the number of accounts that have migrated from unauthorized gambling sites to the new ones approved by the new state's legislation, one of the main goals of any online industry: 35 out of the 65% of New Jersey online players from unauthorized gaming sites has decided to open accounts on authorized websites. Great numbers of new legal accounts are not the only achievement that the regulation has brought to the table though; the state of New Jersey is now coming across tax benefits from the online gaming regulation.
From the ICE Totally Gaming Exhibition, Commercial Intelligence head of research, Geoffrey Dixon, said: "All eyes are on New Jersey as a possible barometer of success for other states and our findings identify a huge fiscal reward in terms of tax yields derived from regulated gaming. The impact of the New Jersey test bed is significant for the future of online gaming across the USA. Furthermore, of the online players that we researched just two weeks ago, 35% had only begun gaming online following New Jersey's decision in November 2013. This level of take-up, coupled with the movement to approved sites, represents a compelling fiscal case study for states seeking to cut their budget deficits."