Home / Poker News November 2013 / New Jersey DGE Sets Promotions Guidelines
New Jersey DGE Sets Promotions Guidelines
Posted by: James Carter. - Fri, 2013-11-15 07:16
New Jersey is getting serious about ironing out all the final details before the official launch of their full online gambling and
online poker, and apparently the various regulations regarding the bonuses and promotions the online operators can offer, fall into this category.
According to the DGE’s latest statements, online gambling companies based in New Jersey will be allowed to offer match bonuses which would then restrict players from cashing out until the redemption requirements are fulfilled.
In order to make things crystal clear, the DGE offered an example, citing a $100 player deposit, which is met with a 100% match bonus. The wagering requirements quoted in the example were $1k.
As soon as the player deposits the $100, the casino makes a $100 deposit into his account as well. When the player starts wagering, it is his money that he’ll first put to risk and then the casino’s money. All the winnings incurred before the redemption requirements are fulfilled would also be wagered and the player would be restricted from cashing out anything before the $1k in wagers is reached.
If the player runs out of money before the redemption requirements are fulfilled, the bonus deal is over. If he reaches the $1k in wagers, the redemption requirements are considered fulfilled and any and all restrictions on player cash-outs are lifted.
If the player applies for a bonus but subsequently reconsiders, he is allowed to cash out his initial deposit (or as much as he has left of it). Once the wagering requirements are complete, the casino/online poker room cannot place any caps on player winnings.
Real money online gambling/poker starts in the Garden State on November 21, with an invitation-only trial period, following which, on November 26, the full launch will take place. Thusly, New Jersey will join Delaware as one of only 2 US states where online gambling and poker are fully legalized.
Sign up to PokerStars and take advantage of the wonderful freerolls, live event satellites and weekend majors the world’s largest online poker site offers.
