Tuesday Janusry 06,2015 : NEW JERSEY REGULATOR BULLISH ON INTERNET POKER PROSPECTS
Division of Gaming Enforcement director David Rebuck takes a positive view on the year ahead.
Getting 2015 off to a positive start are reports from US media that the New Jersey regulator, the Division of Gaming Enforcement, has posted a bullish online gambling view of the year ahead on its website.
Director David Rebuck does not mention the ongoing attempts by Pokerstars to break into the New Jersey market, but is optimistic about more success in the use of credit and debit cards, and the possibility of player sharing pools with other jurisdictions.
On the player liquidity front, Rebuck reveals that negotiations are continuing with Nevada and the United Kingdom to establish workable player-sharing compacts which could be the boost that all parties involved need.
Rebuck observes in the statement:
“The legalization that authorized Internet gaming specifically permits the Division to enter into multi-jurisdictional agreements. The Division has been in discussions with other jurisdictions, such as Nevada and the United Kingdom, but no compacts have been entered to date.
"The Division is open to discussions in this area and always seeks to ensure that any agreements are most beneficial to New Jersey’s Internet gaming industry.”
Rebuck gives some figures regarding difficulties associated with the use of credit and debit cards, revealing that last year around 73 percent of Visa transactions and 44 percent of MasterCard transactions at legal New Jersey online gambling sites were approved, leaving something to be desired regarding the rejection rate.
The director reports that the DGE has been in discussions with the New Jersey Department of Banking and Insurance and the U.S. Office of the Comptroller of the Currency (OCC) to address the difficulties related to payment processing, and progress is being made.
“A new credit card code has been created for legal online gambling transactions and it is expected to be in effect spring of 2015,” Rebuck reveals. “As the banking industry becomes more familiar with legalized Internet gaming and patrons become more educated about the various options for funding their accounts, further improvements are expected in this area.”