The bill establishes new regulations for online gaming and sports wagering in New Jersey, specifically prohibiting the use of credit cards for payments related to these activities. It amends existing laws to enforce strict Know Your Customer (KYC) standards, requiring casino licensees to verify patrons' identities through detailed personal information, including legal name, date of birth, and Social Security number, along with multi-source authentication. The legislation also outlines account management procedures, such as prohibiting fund transfers between patrons and temporarily blocking accounts after multiple failed deposit attempts, all aimed at enhancing consumer protection and responsible gaming practices.

Additionally, the bill mandates that gaming operators implement measures to assist at-risk patrons, including a "cool-off period" during which they cannot engage in gaming activities. Operators are required to void pending wagers and refund cashable funds for self-excluded patrons, while also maintaining detailed logs of account creation and patron information. The Division of Gaming Enforcement will oversee compliance with these regulations, which include the collection of gender identification data for reporting on problem gambling trends. Overall, the legislation seeks to create a safer online gaming environment by promoting responsible gaming and protecting vulnerable individuals.

Statutes affected:
Introduced: 5:12-70, 5:12A-13