Nevada, Delaware, and New Jersey are among the American states that have legalized online casinos and gambling, but not a single other state has followed suit since the latter took the plunge in 2013. In order to rectify this sad state of affairs, an iDEA has emerged like Minerva fully formed from the head of Jupiter. The Development and Economic Association was announced earlier in the week as a means of jumpstarting the lagging online casino gambling industry. Net Entertainment, Sightline Payments, GVC Holdings, and Tropicana Entertainment , just to mention a few, have joined this, the first of trade associations to fully support gambling companies and websites, whether they offer sophisticated sports betting and online poker, or humble lottery and bingo (was his name-o).
“Economic Impact of New Jersey Online Gaming: Lessons Learned” will be iDEA’s manifesto, a white paper authored by Alan Meister, Ph.D., of Nathan Associates, and Gene Johnson, of Victor Strategies, extolling the virtues of the New Jersey online gambling industry – which has been estimated to generate $20 million per month and is credited for revitalizing several casinos in Atlantic City. If only Lou Pascal were around to see it. New Jersey’s online betting scene has produced $998.3 million in output, created 3,374 full time jobs, paid $218.9 million to the industry’s employees, and generated $124.4 million in tax revenue, according to iDEA. Also, and contrary to every single gangster movie we have ever seen, legal online gambling has not led to an increase in underage gambling, fraud, money laundering, or other criminal endeavours. As a matter of fact, there have been no reports of a single major incident of online cheating or player fraud, and no minors have successfully created online gambling casino accounts and gambled as adults in the Garden State.
“New Jersey’s experience provides valuable lessons for other U.S. states considering [online gambling] legalization in the future,” one of iDEA’s founders, Jeff Ifrah, said. “New Jersey iGaming is also a success from a regulatory perspective, with some of the strictest iGaming regulation protocols in the world. These regulations guarantee that operators are accountable, and that players can trust that they will be protected.” Illinois, New York, and Pennsylvania have all taken baby steps towards the legalization of online and casino gambling but, to borrow a phrase from today’s gambling entrepreneurs’ carny ancestors, it’s been close but not cigar. Damn baby legs. Hopefully, this good iDEA will eventually help these states achieve their dream of a legal online gambling casino and sports industry. After all, it beats the mayor using what’s left of the town treasury to move to a more prosperous town and run for mayor there, and then once he is elected, sending for the rest of the population. A number of cities have rejuvenated their economies with legalized gambling. And there is an added bonus; some of the revenue can go to help underfunded public schools. Finally, once something has been approved by the government, it’s no longer immoral. This could be a whole new beginning for online casinos.