\nATLANTIC CITY, N.J. (AP) \u2013 Internet gambling in New Jersey has been underwhelming in the year since it began, and it is now under attack by opponents looking to shut it down, even as it provides a small bit of help to Atlantic City\u2019s struggling casinos.<\/p>\n
\tWhen Internet gambling was launched, it was hailed by many as a potential game-changer that would help reverse years of declining revenues at what were then Atlantic City\u2019s 12 casinos. Gov. Chris Christie\u2019s administration expected online betting to bring in $1 billion in its first year.<\/p>\n
\tBut only one-tenth of that \u2013 just over $111 million \u2013 has materialized. Four casinos have closed and a fifth is poised to do so next month. And one Internet gambling company, Ultimate Gaming, left the market after an unsuccessful fling with the Trump Taj Mahal.<\/p>\n
\tBut even the small revenue boost from online gambling is helping the casinos that offer it. In several months, Internet winnings were the difference between the surviving casinos posting a revenue decline or an increase compared with a year earlier.<\/p>\n
\t\u201cWe\u2019ve had some victories and we\u2019ve had some losses,\u201d said David Rebuck, director of the state Division of Gaming Enforcement. \u201cFrom a regulatory standpoint, it\u2019s working really well, without any catastrophes, meltdowns or scandals. On the negative side, it was projected to be a much stronger financial performer.\u201d<\/p>\n
\tThe industry was plagued by problems in its infancy, including the geolocation software used to ensure that a gambler is physically within New Jersey\u2019s borders. That issue has largely been resolved, and false rejections now occur less than 5 percent of the time, Rebuck said.<\/p>\n
\tA more serious problem is the continuing reluctance of many banks to process Internet gambling credit card transactions, even though the U.S. Justice Department has declared Internet gambling legal as long as it is done within a single state and does not involve bets on sporting events. That has left automated bank transfers as the main way players fund accounts. New Jersey authorities have met with many credit card companies and banks to tout their strict regulations and oversight of the industry but have failed to change many minds.<\/p>\n
\tAnd on top of all this is a well-funded push by casino magnate Sheldon Adelson for a law banning Internet gambling nationwide. The Casino Association of New Jersey urged the state\u2019s congressional delegation to resist any attempt to pass such a law.<\/p>\n
\tRebuck said a goal for the industry\u2019s second year is to increase player pools in online games like poker. He has been in discussions with authorities in Nevada and the United Kingdom about reciprocal agreements to expand online gambling but says no deal is imminent. The expected approval of PokerStars\u2019 new owner, Amaya, to offer Internet gambling in New Jersey is still under review and won\u2019t happen until early 2015 at best, Rebuck said.<\/p>\n
\tDespite its slow start, Internet gambling has its fans, many of whom say they gamble more frequently now that they can do it in their living room.<\/p>\n
\t\u201cIt\u2019s convenient. I don\u2019t have to drive to AC,\u201d said Dennis Lopez of Somerset, an avid online poker player. \u201cIf I really feel like playing, I don\u2019t have to go to a casino or find a local game. I can just fire up my laptop and play in a matter of seconds.\u201d<\/p>\n
\tInternet gambling revenue has been slowly declining in New Jersey in recent months, leading Deutsche Bank analyst Andrew Zarnett to reduce his revenue estimate for 2015 from $250 million to $150 million.<\/p>\n
\tOthers are more optimistic. On Monday, the Pala Indian tribe of California is expected to launch its Internet gambling site in New Jersey, the first tribe to do so. Rebuck said another company wants to join the New Jersey market as well, but he would not identify it. And Cathy Ruela, a 31-year-old from Morris County, recently won the state\u2019s largest online jackpot while playing slots on her laptop: $1.3 million.<\/p>\n
\t\u201cInternet gambling has worked out pretty damned well for me,\u201d she said.<\/p>\n
No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"
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