Home » Comparing New Jersey’s Betting Regulations with Global Practices: Insights from Around the World | OCNJ Daily

Comparing New Jersey’s Betting Regulations with Global Practices: Insights from Around the World | OCNJ Daily

When people think of countries that have the laxest stance on gambling, naturally, the US is one of the first ones that comes to mind. However, the reality is that the United States has always had a pretty strict take on gambling, with Nevada leading the way in the mid-20th century regarding accepting betting pastimes as a legalized entertainment form that can bring in sizeable tax revenues to government coffers and drive the local economy. In the 1970s, New Jersey decided to follow suit in Silver State’s footsteps and permit casino gaming, becoming the second-most visited gambling destination in the US, with Atlantic City becoming the city most synonymous with US gaming aside from Vegas.

That said, it should get mentioned that The Garden State is ahead of Nevada in some aspects concerning online wagering fun, as it allows games-of-chance sites, which Nevada does not, and sees hefty Internet poker and sports betting action monthly.

The body that regulates all gambling activities in New Jersey is the state’s Division of Gaming Enforcement. It got founded in 1977 via the Casino Control Act, overseeing every betting practice, including horse race wagering. That means all gambling operators must attain this organization’s seal of approval and allow its Technical Service Bureau to run integrity tests on all their offered products.

Without question, this entity has a reputation as one of the more stringent regulators on the planet. It is famous for allowing a minimum slot RTP of 83%, a self-exclusion scheme that gamblers can sign up for over the Internet or at racetracks, and individual licensing fees per game paid to the NJ Consumer Affairs’ division. 

How Does DGE Stack Up Against European Regulators

It may come as a shock to many, but most of Europe’s online gambling market did not get regulated until recently. For example, Germany and the Netherlands did not allow this pastime to residents until 2021, when both countries set a legal framework for this hobby.

Since 2007, the UK Gambling Commission has been the measuring stick in the Old Continent regarding gambling regulation. That organization licenses all land-based casinos and betting shops in Britain. Plus, the country’s robust list of online bookmakers, casinos, and bingo platforms. Its existence got conceived through the 2005 Gambling Act, and most of the rules it sets get followed by other legit European regulators like the Swedish Gambling Authority and the Danish Gambling Authority.

For many, where the UKGC has the DGE beat is chiefly in the protective problem gamblers arena, as it has a mandatory self-exclusion scheme called Gamstop, in which all UK operators must participate. Once a gambler activates a self-exclusion ban at one UKGC-approved site/venue, all other gambling companies in Britain must honor it. Moreover, the UKGC has added multiple gameplay restrictions in the past three years, such as obligatory wait times between slot spins and low max bet limits. It is now even discussing incorporating a mandatory source of funds check.

Still, in terms of financial regulation and vetting procedures, the DGE is superior, primarily thanks to its longer industry standing.

What About International Regulators?

What are international regulators? That label usually gets given to licensing bodies based in nations from the Caribbean, South Africa, and small islands like those in the Union of Comoros. These regions pretty much allow online gambling businesses to operate from their borders as a cash grab. Yet, over the past few years, they have forced their licensees to follow Know Your Customer identity verification procedures and take a firmer approach to user complaints.

Nevertheless, it goes without saying that their licensing criteria and regulation level pale in comparison to those of the DGE. Though, it is interesting to note that the Netherlands, which still has some sway in Curacao, a top online gaming haven, is now forcing this Dutch Caribbean Island to take a firmer stance when it comes to how it handles its gambling sector.