The state of New Jersey which legalized online poker this year, recently confirmed that the first official launch in the state was likely to take place on the 26th of November at 9 am local time. There are a number of high profile companies such as PokerStars and Caesars who operations the WSOP.com brand who are ready to launch their operations in New Jersey.
However, these companies are now facing similar issues in New Jersey as the state has opted for a similar setup like Nevada. The rules in New Jersey will not permit the online poker system to utilize online poker software to transfer funds between players.
This restriction could make things a lot more complicated as when players find it easy to share and transfer funds between themselves.
Realizing the importance of having internal payment transfers, PokerStars which is the number one gambling portal in the world wanted regulators in New Jersey to reconsider the issue. PokerStars has teamed up with one of the casinos in New Jersey and has big plans to launch and expand its operations within the state. However, the state of New Jersey took a strong stance and did not make any changes to its policy.
The Division of Gaming Enforcement: Based released a regulations document which stated that the
Rational Group [PokerStars and Full Tilt Poker] suggested an amendment to the rules to permit the transfer of funds between patrons, provided that the Division is assured that the operator implements limits and carries out checks to ensure those limits are followed.
However, the state of New Jersey rejected the proposal by saying
To prevent fraud, collusion, and money laundering, patron to patron transfers of funds will not be permitted.
New Jersey like Nevada has taken a strong stance against internal transfers because there is always a concern that players might abuse the privilege and leverage these sites to circumvent financial institutions.
Yet having internal transfers in online poker is essential to the success of any online poker website. While it may not be essential to those who play the game once in a while, it is an important part of the process for professional poker players as they use it to facilitate stalking. It is also an important for amateurs who are looking to play regularly and turn pro.
Both Nevada and New Jersey might relax their stance on internal payment transfers in the near future as online poker becomes more mainstream in the United States and there is less chance of “fraud, collusion, and money laundering.” Till then, online poker players in the U.S have to be patient and play within the rules of the game.