NJ: Online gambling headache for governor

New Jersey online gambling NOT bringing in the hoped for revenues.

The disappointing revenues from online gambling in New Jersey have created a major budget problem for state governor Chris Christie.
In May 2013 Christie said that online gambling would create tax revenues of $180 million in the first year, that figure will most likely be $12 million creating a black hole in state spending.
According to a report by Bloomberg, the lack of revenue from Atlantic City casinos– and their slow business online, in particular — has forced Christie to scramble for ways to pay the state’s bills. Part of the problem, Bloomberg said, is that New Jersey’s casino industry, as a whole, is struggling to stay afloat, but online gambling also faces specific obstacles, including banks that won’t let customers use their credit cards for that purpose and hit-or-miss mobile access.
However a recent report by the Associated Press claimed that the biggest obstacle to New Jersey online gambling is from overseas operators offering their services to state gamblers. It is estimated that illegal sites will make up to $400 million in 2014 alone. That issue and also that only 10% of all residents in New Jersey are aware that the state has legalised online gambling is stopping legal operators from reaching their projected targets for revenues.