New Jersey’s plan to take online gambling to the next level this year might include state senator Raymond Lesniak’s plan to once again push for the state’s online gambling sites to accept customers not only from other states, but from other countries too.
The senator who was one of the driving forces in legalizing online gambling in the state has re-introduced his bill, S980, with the full intent of turning New Jersey into an iGaming hub that companies the world over would flock to for prospective business opportunities.
Lesniak first brought the issue of turning the state into an iGaming mecca at around the same time when online gambling officially went live. Clearly, the fiery senator wasn’t kidding about his plans and is pushing forward with it in the same manner that led to inline gambling getting green-lit in the state.
As far as Lesniak is concerned, he believes that international gambling companies are lining up to locating their business operations in New Jersey, highlighting the state’s stability and security, not to mention the fact that it’s leaders will welcome these businesses with open arms, possibly even throw a Jersey Shore-type party for them.
The overall gist of the bill is pretty simple: should it get approved, New Jersey will be allowed to open its borders to online gambling companies from other jurisdictions where the same sort of online gambling is legalized, sort of like how jurisdictions in places like Antigua and Costa Rica allow for foreign operators to set up their businesses there.
There are still some ironing out to deal with should the bill get turned into a law. For one, the state still needs to iron out compacts with other jurisdictions before any of the potential Jersey-based online gambling sites can offer online gambling in those places.
Also included in the senator’s bill would be the tax that foreign players would incur from playing on any of the Jersey-based sites. According to the bill, the number would be the same as what Jersey residents are being taxed today, which is 15 percent, plus a 2.5 percent fee earmarked for the Casino Reinvestment Development Authority. The state also has a tax credit, which means that operators who are afraid of double taxation won’t have to worry about that if they set up their base in the state.
Should the bill end up as far as Lesniak hopes, the repercussions for the state could be enormous, especially since only two other states – Nevada and Delaware – in the US have regulated online gambling. New Jersey’s casino industry is drowning at an alarming rate and the state needs to find a way to circumvent all of the rising competition coming from neighboring states.
With the state allowing itself to open its client base to people from other states, the customer base could rise by the millions, or at least at a faster rate than how it performed in the first few months since online gambling became legal for customers within its borders.
That’s New Jersey’s hope for 2014. It succeeded in introducing online gambling last year. This year, the stakes are now higher and senator Lesniak is shooting for the world. And really, with how he’s supported and championed online gambling in the state, can you blame him?
source : www.calvinayre.com
