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New Jersey Rethinks Dormant Online Gambling Accounts

New Jersey Rethinks Dormant Online Gambling Accounts
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Iva Dozet News Editor
  • Fact Checked by: PokerListings
  • Last updated on: November 30, 2024 · 1 minutes to read

What happens to your online gambling funds if you forget about them? In New Jersey, the current answer is that after a year of dormancy, half goes to the online operator, and the rest lands in the state’s Casino Control Fund. But that setup might be on its way out. Lawmakers are eyeing changes to give account holders more time to reclaim forgotten balances and to ensure operators don’t pocket a share of the unclaimed cash.

Two bills — Senate Bill 152 (S152) and Assembly Bill 397 (A397)—propose extending the recovery period for dormant accounts from one year to three, while redirecting all unclaimed funds to the state’s unclaimed property fund.

A Push for Consumer Protections

Under the current rules, funds in accounts classified as abandoned after one year are divided between the operator and the Casino Control Fund. The proposed bills would overhaul this system, transferring all dormant account funds to a centralized state-managed account. This would give account holders three years to reclaim their money and impose stricter requirements on operators to notify users about their dormant balances.

The legislation also reflects a growing push to hold operators accountable, with proponents framing the changes as a way to ensure that every effort is made to reconnect players with their forgotten funds.

A Familiar Debate

This isn’t the first time New Jersey lawmakers have taken up the issue. Both S152 and A397 were introduced in January 2024 but stalled in committee, echoing similar proposals that failed to gain traction in 2022.

However, new momentum may be building. The rapid expansion of New Jersey’s online gambling market has brought fresh urgency to the debate, with advocates highlighting the potential for increased transparency and fairness in how unclaimed funds are managed.

What’s Next?

Neither bill has been scheduled for a vote, and significant movement is unlikely before 2025. If interest grows, hearings and committee discussions could bring the measures closer to becoming law.

As New Jersey’s online gambling industry continues to grow, lawmakers will need to strike a balance between industry interests and consumer protections. Whether these bills gain the necessary support could set the tone for how unclaimed funds are handled in the future.

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