TRENTON, N.J. — Have you taken a break from online gambling, but have a balance with your online account? If so, New Jersey officials want your money, and they’re going to take it if they can and hold it for you.
They say it’s to prevent gaming sites from taking your money and running off with it.
A bipartisan group of New Jersey lawmakers has introduced a bill that would redefine how funds left in inactive internet gaming accounts are handled, transferring the unclaimed money to the state’s unclaimed property program after three years of dormancy.
Sponsored by Assemblymen Robert Auth (R-Bergen, Passaic) and Joe Danielsen (D-Middlesex, Somerset), and co-sponsored by Assemblymen Sean Kean and John DiMaio, the legislation seeks to amend the current rules governing dormant internet gaming accounts. Under existing law, unclaimed funds are split evenly between the casino licensee and the state’s Casino Control Fund.
If passed, the bill would treat funds in inactive accounts as unclaimed property under the “Uniform Unclaimed Property Act,” giving the rightful account holders the opportunity to reclaim the funds from the state. Casinos would be required to attempt to contact account holders via mail, phone, and email before closing accounts.
The legislation, intended to ensure unclaimed funds are handled transparently and fairly, comes at a time of increasing online gaming activity in New Jersey, where internet gambling has been a key source of state revenue.
By shifting control of dormant funds, the bill aims to prioritize returning money to account holders while enhancing accountability in the growing online gaming sector.