The answer to every question you ever had about the NJ online Gambling Law!
Since 2013, online gambling NJ has been legal and capable of generating more than $1.4 billion in revenue. With a noticeable growth every year, New Jersey online casinos are here to stay. But let’s talk a bit about what the NJ online gambling law actually means.
The A2578 bill passed in 2013 allows New Jersey online casinos to get their online gambling permit and partner with an iGaming software provider. The NJ online casino starts by paying a non-refundable deposit of $100.000. If all the conditions are met, the online casino in NJ can move further in the process of getting the gaming license.
The total cost of the license is around $400.000 but there are some more fees for the NJ casino. There’s the $250.000 renewal fee and the $250.000 annual fee. The money paid annually goes to treatment facilities and programs tackling the gambling addiction problem.
The next step for the NJ online casino is to get a temporary permit, called a transactional waiver. At this point, the online casino NJ has the right to function but online gambling NJ is limited to a specific number of players and number of hours per day.
If the online New Jersey casino platform meets all the required specifics, there comes the final authorization. Which represents the grand opening of the online casino NJ.
We already mentioned that you find yourself in the heaven of NJ online gambling. At the moment, there are 22 licensed New Jersey online casinos. Details about the game variety, bonuses and offers or availability of a live dealer feature, are those to help you decide. We created a top 5 list of NJ online casinos that follow the NJ online gambling law.
The other NJ online casinos excelling in terms of games and bonus offers are Borgata Online Casino, 888 Casino, Betfair Online Casino, Party Casino, Unibet Casino, and others.
Regarding the diversity of gambling games permitted by the NJ online gambling law, all your needs are being met. Online gambling NJ provides the desired gambling games: slots, poker, craps, blackjack, roulette. Then, there are the live dealer games – live poker, live blackjack – and various other casino games.
The NJ online gambling law, in order to comply with the federal gambling laws, needs to ensure two rules are being followed. The first is related to the gambling age in NJ and the second is about the location of each user.
The federal gambling laws state that the gambling age in NJ is 21 years and above. When players create an account at an online casino in NJ, they have to authenticate themselves with a valid ID. This way, the NJ casino shows their seriousness regarding this very important matter.
Then, there’s the location of the user. All players must find themselves physically inside New Jersey. They still have the possibility to create an account and fund it from any other place outside of New Jersey. But the NJ online gambling law states they can only enjoy online gambling New Jersey from inside the state. And one way for the NJ casino to verify this information is using a geolocation software that shows exactly the location of the player.
But why does NJ online gambling need to be working under the NJ online gambling law? What are the advantages on the player’s side to be gambling at a regulated NJ online casino? The answers to these questions show the importance of NJ online gambling law and the federal entity imposing it.
The Division of Gaming Enforcement (DGE) is the authority that controls online gambling. Established in 1977, DGE has the mission to:
In order for each NJ casino to be granted an online gambling New Jersey license, DGE has to thoroughly investigate its platform and all the details. And then approve the following:
And these are all the reasons why we highly recommend players to choose NJ online gambling only at regulated NJ online casinos. Remember though, NJ online gambling law authorizes New Jersey casinos to get a temporary permit before being granted a license. So those New Jersey casinos are a safe bet too.
Everyone (of gambling age in NJ) loves NJ online gambling and for obvious reasons. It’s a very easy and accessible way to have fun, getting that thrill while placing bets and trusting your luck. It’s adventurous, it’s exciting and all in all, an irreplaceable experience. And one of the best parts comes when you’re winning. But what happens then, according to the NJ online gambling law?
All the winnings coming from NJ online gambling are taxable. The IRS states that all gambling winnings are taxable, therefore gamblers must declare and pay taxes for their winnings.
The income tax rate in New Jersey on gambling winnings is 3% for NJ residents and non-residents.
One thing players should know before NJ online gambling is that different online casino games NJ bring different taxes. And in order to comply with the NJ online gambling law, the player needs to report the winnings to the IRS filing the W2-G Form, for the following gambling activities.
As for professional gamblers, the winnings coming from online gambling NJ count as income from self-employment. There are different tax rules applying in this situation.
Casual online casino NJ gamblers must know that they can deduct gambling losses to the extent of their gambling winnings.
We strongly recommend all online casino games NJ lovers to keep a track record of all their gambling activity. Save all your receipts, betting tickets, and official statements for your winning and losses. And don’t hesitate to ask for help to do your taxes from a professional accountant.
The NJ online gambling law was designed to regulate NJ online gambling in all New Jersey casinos. But besides giving online casino NJ gamblers a safe, honest and fun experience, it also offers them support. NJ online gambling is entertaining and the possibility of winning can definitely bring a lot of joy and excitement. Nonetheless, some gamblers might end up dealing with an addiction problem.
And to fight compulsive gambling off, every online casino NJ must raise awareness about problem gambling. So New Jersey casinos obviously display information of a support organization on their websites. At the same time, DGE requires a $250,000 annual fee from every online casino in NJ that goes to addiction programs. Furthermore, the same authority investigates every year, how gambling affects the overall addiction problem.
NJ online gambling is a form of entertainment that a lot of players turn to for many reasons. Licensed New Jersey online casinos have all the tools to give you a secure and fair gambling experience. Your private information is always safe and your banking transactions are secure. Every online casino in NJ has in store a wide range of attractive online casino games NJ. Games that you’re going to love and games that are fair – periodically checked by professional authorities.
The reason why we only recommend licensed New Jersey casinos is to ensure our readers can rely on a thorough guideline when choosing where to enjoy NJ online gambling. Because this is the only way to a safe and fun gambling experience. Furthermore, legal New Jersey online casinos can help users practice responsible gambling. And our recommendation is to ask for help, when in doubt. Don’t forget about the importance of setting limits that will encourage safe gambling.
The legal gambling age in NJ is 21 years and above. Since gambling at a NJ casino is illegal for underage people, every online casino in NJ checks the personal information of users. Gamblers that wish to join a NJ casino need to prove they meet the legal gambling age as per the requirement of the NJ law.
Online gambling became legal in a NJ casino on February 26, 2013, with the passage of bill A2578. Each and every New Jersey casino, in order to get its license, has to abide by the NJ online gambling law.
Yes, all players that are able to enjoy online gambling at a licensed NJ casino need to physically be inside the state of New Jersey. They have the option to manage an account from anywhere, but actual gambling needs to take place inside the state.
The NJ online gambling law states that all winnings coming from gambling at a NJ casino are taxable. The IRS requires gambling winnings to always be reported.
We made a habit of recommending only gambling at a regulated and licensed New Jersey casino. Because activating under the NJ online gambling law is what guarantees players the experience they want. A fair and honest gambling session, where the games are periodically tested and updated. The personal information is dealt with in a secure manner. The financial transactions are safe and the customer care is always on spot. Plus, the NJ licensed online casino of your choice will be encouraging you to gamble responsibly.