Online gaming helps New Jersey grow
New information revealed that the online gaming industry is helping New Jersey generate revenue.
US.- A report sponsored by iDEA (iDevelopment and Economic Association) called “Economic Impact of New Jersey Online Gaming: Lessons Learned,” revealed that ever since the industry was legalised, the state has gone through a series of benefits that helped the local economy. The studio was conducted by researchers Alan Meister, Ph.D. of Nathan Associates and Gene Johnson of Victor.
The study concluded that online gaming in New Jersey has generated approximately US$998 million in output and US$124.4 million in tax revenue that went directly to state and local governments. Moreover, the online industry contributed with US$83.5 million in taxes, as well as it generated 3374 jobs. People behind similar initiatives in other states believe that a regulated online market could help them achieve these results as well.
Jeff Ifrah, gaming attorney and iDEA’s founding member, said that New Jersey’s experience provides valuable lessons for other U.S. states considering iGaming legalisation in the future. “The state’s operating environment and regulatory structure provides a portable model which can be modeled by other jurisdictions, bringing much-needed jobs and tax revenue.” Ifrah also said that the state’s iGaming is an example of success when talking about regulations, since it has one of the strictest environments in the world. The regulations are set to guarantee that operators are accountable, and players protected.
Furthermore, the study also revealed that online gaming hasn’t had a significant impact on crime in the state, and that cybercrime haven’t been common in New Jersey. Money laundering and underage gambling operations are also things that haven’t happened since the state legalised the industry.
