Online Casino News From Around the Globe

Over 37K Online Gambling Accounts Created In New Jersey Since Launch

Casinos in New Jersey have got a lot to be thankful for this year on Thanksgiving. According to the New Jersey Division of Gaming Enforcement there have been over 37,000 accounts been created since New Jersey began their online gambling launch on Nov.21. Becoming the third U.S. state after Nevada and Delaware, New Jersey is considered the most lucrative market so far. Although the estimates of potential revenues are in dispute as we reported, the consensus is that New Jersey is worth anything from $250 million to over a $1 billion a year. What makes the amount of accounts created impressive is the fact that on Thanksgiving alone over 5,000 new accounts were created at the selection of online casinos that have the green light to offer online gambling.The amount of accounts created can be a bit misleading as to the exact amount of punters as some people would have create multiple accounts and the various casinos. This solid start to full real money online gambling is the biggest expansion of gambling in New Jersey sine the first Atlantic City casino opened way back in…

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Gov. Christie’s Online Gambling Revenue Estimates Overblown Says Fitch

With New Jersey having just launched online gambling, the well-respected global rating agency Fitch Ratings have thrown somewhat of a dampener on the celebrations. In a report in Reuters Fitch Ratings are of the opinion that Gov. Chris Christie exaggerated the potential revenues from online gambling by a huge margin. According to their estimates online gambling revenues could generate around $300 million in the next year and as much as $750 million within a few years. This is not enough to change the tide for the beleaguered Atlantic City casinos which have dropped in revenues from $5 billion in 2006 to the current $2.8 billion. Most of these revenues have been lost to neighboring states. These projections from Fitch are a far cry from the $1.2 billion estimated by Christie for the next year. If that’s not enough to put a dampener on the party, Fitch went on to say that online gambling in New Jersey might even be detrimental to the brick and mortar casinos as many would choose the online option instead of venturing out of their homes. Fitch analysts said,” Although some market participants will benefit, New Jersey online gambling is not going to be the savior of the casino market. In some ways, it will be detrimental because it has kept brick and mortar supply in the market when the level of demand dictates that some supply should be removed.” It will be interesting to see if this pessimistic evaluation of the online gambling market in New Jersey is just that or perhaps Gov. Chris Christie will have some serious explaining to do should these estimates become a…

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Steve Wynn Remaining Cautious On Internet Gambling Debate

The debate of legalizing online gambling in the U.S. is always interesting to follow as it is barometer of the global gambling industry. With New Jersey officially launching the debate of the moral and financial aspects of online gambling are once again in the headlines. Our regular readers are well aware of the anti-online gambling campaign Sheldon Adelson is planning. His plans to spend millions on lobbyists and lawyers to influence Congress to stop legal internet gambling has got many asking if anyone can stop the ball rolling. The latest casino mogul to throw his hat in the online gambling debate is that of Wynn Resorts Chairman Steve Wynn. Speaking to the Las Vegas Review Journal, Wynn surprisingly did not attack Adelson for his definitive opinion on internet gambling. One would expect Wynn to be in favor of legalizing online gambling especially in light of the fact that they have partnered up with Caesars Entertainment Corp. in New Jersey in launching real money online poker. Despite this partnership Wynn said,” I’m not sure as I stand here where online gaming is going. Within the state of New Jersey it’s legal. Its status in America is much in doubt.” Wynn also pointed out the futility of banning pastimes that will be undertaken despite the illegality. The age of Prohibition is the classic example. With billions of dollars being spent on illegal online gambling in the U.S. it makes sense to legalize it and enjoy the tax revenues. Commenting on Adelson’s crusade to ban online gambling Wynn said,” I think it’s questionable whether Sheldon will be able to stop it, which is not to say he is wrong, just think this sort of thing has a life of its own. I‘m neither a proponent nor opponent of it. I’m an observer of this process and the chairman of a publicly traded company that is required to pay attention to such things.” This cautious approach to internet gambling by Wynn despite their involvement with Caesars’ WSOP online poker brand is just another indicator of the complexity of legalizing online gambling in a market which has no nationwide…

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Father And Son Try To Scam Winner Out Of $1 Million Lottery Ticket

Imagine winning a million dollar lottery prize only to be scammed out of it by a couple of unscrupulous characters. For a 34 year old man this is exactly what happened. According to police in Nassau County the 34 year old purchased a lottery scratchard on Thursday, scratched it off to discover he was a winner. New York’s Long Island Police have confirmed that a deli owner and his son are under arrest for attempting to cheat the man out of his $1 million winning lottery ticket. The 34 year old man did not speak English when he purchased the $10 “Unwrap the Cash” scratchie from the New York State Lottery. The lucky winner handed over his winning ticket to 26 year old Karim Jaghab in order to collect his winnings whereupon he was given $1000 and Jaghab kept the ticket. The winner doubted the honesty of Karim Jaghab and returned on Friday where the father and son duo tried to pacify him with $10,000 on condition that he did not involve the police. The lotto winner did not believe the Jaghabs’ claims and promptly called the police. The greedy father and son’s plot to cheat the winner out of a life changing win is set to cost them big, The Jaghabs’ were arraigned on Saturday on grand larceny charges which carry a heavy penalty. Their defense is that there was a simple mistake on the payout from the lottery machine. The Jaghabs’ will have to come up with something more original should they wish to remain out of jail and are set to pay heavily for their greed and…

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Attempts From Over 23 States To Access New Jersey Online Casinos

The demand for legal online gambling opportunities in the U.S. is huge with millions only to eager to enjoy the pleasure of internet gambling. The taboo of online gambling has being eroded by three states already and there is the promise for more to come. In an interesting barometer of just how eager online gamblers are keen to wager online, it has been reported that gamblers in at least 23 U.S. states have being attempting to log onto the now legal online casino sites in New Jersey on the first night with their test phase in full swing. This data has been provided by the Matt Katz, CEO of CAMS LLC who are responsible for the geolocation technology provided to the Taj Mahal and Trump Plaza in New Jersey. As we all know one of the main restrictions of online gambling in the U.S. is that only residents situated within state borders are permitted to gamble online. According to Katz these illegal attempts are further proof why geolocation technology is vital to maintain strict safeguards in New Jersey. While only officially launching next week, New Jersey’s trial phase is vital in order to tighten up any loopholes that would conflict with the law and to iron out technical aspects of the systems that could cause…

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