The regulation of online gambling in the states of Nevada, Delaware and New Jersey has started on a slow note. This is due to various causes such as low number of casinos adapting the online platform. These causes are being addressed and it is expected that with time, the online casino industry will grow.
This and other information was given in the East coast conference in Atlantic City. The event was attended by many delegates who received the information from the stakeholders in the industry.
Online gambling is present and it is taking place in 50 states in the United States without being regulated or being taxed. The only states that have regulated the online casinos are the states of New Jersey, Nevada and Delaware. The opinion was that even if there is no regulation, betting is still taking part illegally by the use of the Internet while generating hundreds of millions of dollars in revenues. This shows that there is need for regulation and consumer protection.
The stake holders also revealed that the residents need to be educated on the issue of online gambling. This is demonstrated by the few people in New Jersey who are aware that they can take part in interstate gambling. Lack of that information is a sign that the public need to be informed on the latest developments in the online casino industry, especially in their state.
The conference also addressed the issue of New Jersey sports betting. The state wants to be allowed to have sports betting to take place privately. The New Jersey senator is planning to fight for that even by the use of legislation in case the Supreme Court did not listen to the appeal. The senator is optimistic for positive results since the state also managed to regulate its online gaming.
The regulation of online gaming in different states is aiming at generating revenues to the states. These are revenues that otherwise go to people’s pockets and therefore, the government and the state bodies do not benefit from them. Without regulation, the consumer is also not protected. Since only three states are regulating their online casinos and gaming, much need to be done to ensure that other states take the cue as well. The federal government should also join in the regulations.
The stakeholders in this conference shared this information and also deliberated on how to solve problems affecting online gaming.