Atlantic City Gambling guide – Laws and Regulations
New Jersey is mostly popular because of the vast and interesting history of gambling in Atlantic City. Atlantic City is a favorite location for gamblers and tourists alike. The Boardwalk on the shores of Atlantic City has many casinos and restaurants that are known worldwide. There have been many economic and legal changes that Atlantic City has been through over the years, but it has always been known as the best place to go for gambling. It has world-class casinos that offer its visitors the best experience of gambling. It also has many amenities that make it the ideal location to stay for a fun-filled vacation away from the rest of the world.
How to gamble in Atlantic City
Atlantic City is the second most wanted gambling place in the U.S. It has a long history in which it has gone through several economic and legal changes. Read about the history and current state of the gambling industry and casinos in Atlantic City in this article.
The History of Gambling in Atlantic City
Since Atlantic City was located along the Atlantic Ocean, it was considered a very good real estate location, and the first hotel was built there in 1853. The famous boardwalk in Atlantic City was built in 1870 as more and more hotels cropped up along the ocean. From 1920 to 1933, the city became popular for illegal gambling and liquor available in nightclubs and restaurants. A lot of people started coming to the city for gambling. However, tourists stopped coming here once drinking was legalized in 1933, and Atlantic City declined. This was the state of Atlantic City before casinos came.
If you wonder when the first Atlantic City casinos opened, it was in 1976, when gambling was legalized in Atlantic City, that the first casinos began opening. Many new casinos opened along the beach and boardwalk, and the old hotels converted into casinos too. To answer the question of what was the first casino in Atlantic City, it was Resorts International. The Atlantic City first casino opened on May 26th, 1978, and soon many others followed.
Since Las Vegas was already a popular gambling location in the country, it was difficult to attract tourists. The city also struggled to bring tourists to Atlantic City casinos. In the 1980s, popular boxing stars like Mike Tyson began having their boxing fights in Atlantic City. This helped bring a lot of tourists there, and Atlantic City was put on the map for the hottest destination for gambling. Due to this, by the end of the 1980s, Atlantic City had become one of the most popular destinations in the United States.
Atlantic City gambling statistics
Atlantic City has been so popular as a gambling and tourist destination for decades, and every year millions of people go there for a vacation. Atlantic City genres a lot of revenue every year from the gambling casino industry alone. In June 2021, the total gaming revenue recorded in the casino industry in Atlantic City was $392.8 million. There had been an increase of 302.7 percent than the income recorded in June 2020. Through Internet gaming and sports wagering, too, they generate revenue in millions of dollars every month despite many Americans shift to playing online slots at offshore casinos.
During the pandemic, when the casinos were closed, internet casino gambling and sports wagering continued online, which caused some losses.
Casinos in Atlantic City (full list)
The long history of Atlantic City casinos has led to multiple successful casinos being established there. Here is a full list of casinos where you can get the experience of Atlantic City gamble.
- Bally’s: It is the place to get a full experience of all the big gambling games like Craps, Slots, Poker, Blackjack, and so on.
- Borgata: It has various games from different cultures like Caribbean stud poker, Spanish 21, Let it Ride, Texas, and others.
- Caesars: It is based on the Roman Empire and offers continuous gaming and fun. It is also one of the largest casinos in Atlantic City.
- Gloden Nugget: It has the most popular slot and video games machines and a vast and grand Poker Room.
- Harrah’s: It has the best payouts from slot machines in all of the casinos in Atlantic City.
- Resorts: It has the highest gambling limits in Atlantic City.
- Tropicana: It is considered to be the luckiest casino in Atlantic City.
- Hard Rock: It offers a world-class experience of Atlantic City with top-notch facilities for entertainment.
- Ocean: It has a beach and ocean theme and has hundreds of different games available.
Atlantic city gambling laws
In Atlantic City, you have to be at least 21 years old to gamble. New Jersey has the most easy-going laws related to gambling on land than any other state in the United States.
Charitable gambling is allowed in all of New Jersey, and it also conducts a lottery. Other than gambling in casinos, online gambling is also allowed in Atlantic City. There are several online casinos in which residents can participate. Even though the requirement for participating in gambling is 21 years of age, those under age are allowed entry to the casinos if they do not drink alcohol or gamble.
Gambling Taxes
Gambling in casinos in Atlantic City is a very popular and enjoyable activity, and about 40 percent of Americans participate in gambling every year. However, if you gamble and win at Atlantic City, you do not keep all your winnings since they are taxable. The money that you win at casinos, lotteries, sports bettings, and so on is fully taxable.
When you win a specific amount of money by gambling, you must pay 24% tax on your winnings. The casino will deduct the amount of tax from your winnings before paying you and send it to the Internal Revenue Service or IRS. This specific amount is different for different games. For earnings from slot machines and bingo games, the amount is $1,200. For keno games, it is $1,500. For poker matches, lotteries, and wagering pools, it is $5,000.
New Jersey also levies a tax of 3% on income. This income is inclusive of your earnings from gambling.
Atlantic city gambling magazines and books
There are several interesting books and magazines that you can read to learn more about the history and present state of gambling in the Playground of the World, Atlantic City. Some of them are Gambling for a Living David Sklansky and Mason Malmuth, The Man Who Broke Atlantic City by Mark Bowden.
