New Jersey May Open Online Casino Doors

Published on: June 6, 2010 

The European Union has already targeted the United States for failing to comply with the fair trading agreement regarding online casinos.  The US states they will not change the current online casino law which has outlawed gambling in the United States since 2005.  Any financial institution is not allowed to help online casino sites.  Any processor of these transactions can also be fined.  Online gamblers can lose their winnings due to the law as well.

There are those in the US who want the online casino law to be changed.  Barney Frank is one person who has tried to get the congress to pass a law legalising gambling.  Many states are even getting ready for when this event occurs.  Las Vegas top casinos are working towards getting a proper online license and just waiting until the new laws are passed.  Unfortunately, it has been more than a year and a half with Barney Frank and his supporters trying to change the laws.

New Jersey is going with a different tactic than heading straight to congress. It may open online casino doors further for other states if the proposed changes occur.  New Jersey Lawmakers held a hearing Friday June 4th, 2010 to legalise online casinos.  Basically locally based casinos would begin to offer their games online as well.  The state Senate‚Äôs Wagering and Tourism committee was part of the meeting.

Arguments were heard during the proceedings as to why online poker, craps, and other games should be legal online in New Jersey.  The state constitution states that gambling is illegal, but there are certain legal forms like casinos and race tracks.  Those arguing for the change think online casinos should also be a part of what is legal for New Jersey when it comes to gambling.  The downside is that even if New Jersey changes the law they are still bound by congress.  They may have trouble getting the financial institutions to process the payments without getting fined.

However, if the decision is rendered as a positive for change it could mean Barney Frank has the stand he requires for tackling congress.  For those who do not live in the US, such as United Kingdom residents the changes could affect how their casinos react.  If the doors are open to the US, UK based casinos are sure to flock to the licensing bureau for their chance at a piece of US revenue.

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