The online gambling activity for some time has become a multi-billion dollar industry. And for that reason trying to legalize it represents a lot of challenges. Nevertheless, huge taxing opportunities can be leveraged along with the ability to create new businesses in this sector.
According to the Center for Gambling Studies at Rutgers will be conducting an investigation to better assess the online behavior. The organization was awarded $1.2 million to carry out this survey for residents from the state of New Jersey and set to start the analysis in Jan. 2015.
“New Jersey is one of only three states where Internet gambling is legal,” said Lia Nower, professor and director of the center who also serves as the principal investigator on the grant. “But iGaming is a new frontier and no one knows quite what to expect. It’s a real testament to the governor and the division that they’re taking such a responsible approach to evaluating potential negative impacts, and we are really honored to be a part of it.”
Online gambling has not been an accepted practice since there only three states (Nevada, New Jersey and Delaware) that have legalized it. However that may be subject to change in the near future since more than a couple of states are possibly considering introducing new legislation.
According to a CBS News report nine states (California, Colorado, Hawaii, Illinois, Iowa, Louisiana, Massachusetts, and Mississippi) are looking to expand internet gambling.
Casino games or Casino-based games are an extremely attractive option to make available online and if implemented correctly with the proper taxation measures would bring a lot tax revenues to perhaps invest in public infrastructure for example.
The center aside from receiving the funding and authorization to collect information it will have to provide four yearly reports to the governor, according to the press release. This exchange shows valuable interest from government officials and perhaps do want to see this succeed.
- Pathological gambling was recognized officially as a clinical disorder in 1980
- Most of the online gambling domains are not related or affiliated with land-based casinos
- Playing on internet gambling websites is common for teenagers and young adults.
- First internet bingo website went live in 1998
- First online poker site (PlanetPoker) started in 1998