There were debates on what US state would be the first to come up with adequate online gambling laws. Many were pining for the position, but it looks like New Jersey may be the forerunner and winner. The state recently announced that it is bringing changes to the internet gambling market. Part of the reason is the flailing Atlantic City gambling market. Atlantic City has been suffering for some time now and there are no signs of revival coming soon according to the numbers. Recently the casino had to do mass layoffs—twice. They let go of thousands of workers both times. The problem is that neighboring states are opening their own premiere gambling facilities and that is creating serious competition for the gambling Mecca. Add to that the rise in online gambling and gamers have a wider range of options than they ever had. Plus some of the other options are much newer and showcasing bigger and better games and promotions. In response, Atlantic City has been creating its own new promotions, but they don’t seem to be as effective as once hoped. Now the state is stepping in.
New Jersey officials are defining a new law in a way so that it will not be defying any current US laws on a federal level. They know that it is a tricky subject to create gambling laws right now when the UIGEA is still in effect. Nothing has changed it, though there have been various legislators how are trying. The issue may be shelved for another two years if changes aren’t made soon. This is leaving states on their own when it comes to writing online gambling law and New Jersey is taking the initiative with the issue. They are hoping that the allowance of online gambling will help to bring in the old revenue numbers post-recession. If they can bring in the same money, or even more, this would make the market that much easier to turn around fully. Remember that New Jersey is still suffering in terms of finances. They want Atlantic City to be a success again, or if not they want some other revenue stream to replace its old income levels—even if only temporarily.