Bill > S1565

This bill amends existing New Jersey law to authorize and regulate Internet wagering, also known as online gambling, for Atlantic City casinos. Key provisions include defining "Internet wagering" as placing bets with a casino licensee via a computer network by residents of New Jersey who are physically in the state and have a wagering account, and establishing rules for "Internet wagering gross revenue," which is the total money received from online bets minus winnings paid out. The bill also clarifies that "casino" or "casino room" now includes any part of a facility where Internet wagering is conducted, and designates areas related to Internet wagering operations as restricted. It introduces new definitions for "Internet wagering" and "Internet wagering gross revenue," and outlines requirements for the location of equipment used for Internet wagering, ensuring it is within Atlantic City. The bill mandates that all Internet wagering operations, including software and hardware, must be tested and approved by the Division of Gaming Enforcement (the "division"), and that systems must verify a player's physical presence in New Jersey for each wager. It also establishes an annual tax of 10% on Internet wagering gross revenues, with specific provisions for an investment alternative tax. The bill details requirements for establishing and managing Internet wagering accounts, including age verification and player authentication, and outlines procedures for deposits, withdrawals, and handling of inactive accounts. Furthermore, it mandates responsible gambling measures, such as displaying problem gambling helplines and allowing players to set wagering limits, and imposes penalties for violations, including illegal operation and tampering with gaming equipment. Finally, the bill allows for the acceptance of wagers from individuals not physically in New Jersey under specific conditions, such as if it aligns with federal law or interstate compacts.