After New Jersey became one of the states regulating online gambling, it is now supporting its mayors to take part in an online poker game for charity. The competition will be hosted by WSOP.com and the winner will donate the first prize of $ 10,000 to the charity of their choice. Before the event, the mayors will be tutored for one hour by a professional on how to play online poker and the competition will be played before live audience.
The state of New Jersey is among the states that regulate online gambling including Delaware and Nevada. This allows it to gain in terms of tax revenue that is obtained from online casinos. This has led to the need for the federal government to create legislation that would regulate the industry. This would curb the loss of tax revenue that could have been obtained from the casinos if they are regulated nationally.
Despite that, online gambling could face a challenge if legislation banning it, is passed which may also be not that easy. Most table games, slots and poker are some of the games, which would be affected in online casinos. The ban is being championed by casino owners who are still land based and who feel that Internet gambling is a threat to their business.
According to the mayor of New Jersey, the online casinos have the capability to generate a lot of revenues to the state and his projections were to the tunes of $ 180 million. Although this is a figure that could be achieved in the long run, the current figures are much less to about $ 12 million for the first seven months. This is a figure that is likely to grow when the gamblers turn to online casinos.
The latest development is the agreement between the Delaware and Nevada in which gamblers can play online poker against each other. This means that even other states that will start regulating online gambling can join in and this may change game all over the world.
Online casinos are legal in the United States and few states regulate them. It is the realization that the casinos can be a source of revenue that is making some states regulate them. The federal government should not be left behind in this regulation since it can also stand to benefit from the revenues.
The New Jersey mayors’ participation in online poker is an indication that online casinos can also be used for a good cause.