The AP is reporting that New Jersey casino regulators have determined that they will allow casinos to offer online gambling promotions one month after online gambling commences in the state.
Online gambling will be open for business in New Jersey as of November 26th.
The promotions, however, will require players “to reach a certain level of play before they can cash out.”
Such promotions won’t be allowed until at least 30 days after Internet gambling begins in New Jersey.
David Rebuck, director of the New Jersey Division of Gaming Enforcement, admits that the Garden State has been approached by several online gambling companies asking about the “type of promotions” they can legally offer to customers.
For instance, a casino can make an offer in which it requires a customer to deposit $100 in an account, and matches that with $100 of its own. The casino could require the customer to make $1,000 worth of bets before cashing out any winnings. The casino also can require that a customer’s first bets come from his or her $100 deposit before the casino’s matching funds are wagered.
As Rebuck explained in the report, the terms of such a promotion “must be clearly spelled out for the customer before an offer is accepted.”
And the spelling out portion of this process will begin soon. Online betting begins a five-day trial period next Thursday, November 21st.
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