Progressive jackpots are popular at both online and land-based casinos. In Atlantic City, the New Jersey Division of Gaming Enforcement regulates the rules for progressives’ at all land-based casinos. Recently, a new rule has been announced with regards to progressive jackpots which could potential hinder a player’s small advantage. Luckily, this rule does not apply to online progressive jackpots but could be used as a precedent in the future.
The Amended Law
The rule states that casinos can eliminate progressive jackpots at any time and retain the accrued money. However, there are several conditions attached to the bill. First, casinos are required to notify the public 30 days before the termination of a progressive jackpot. If no player wins during that period, the casino has the right to remove the jackpot and keep the money.
Second, this rule only applies to progressive slot games within a single casino. Therefore, those games that a linked across several casinos cannot be terminated under this law. Therefore, players who add to the jackpot size may never have an opportunity to win the money after 30 days.
History Of The Law
The policy was initially implemented in 1992. Within the first three months, Atlantic City casinos canceled a variety of jackpots totaling $16.6 million of which they retained. As a result, customers complained and the law was amended to require the casinos to transfer any remaining jackpot money to other progressive slot games. Most players found this to be an acceptable arrangement. This also allowed the casinos to terminate games that did not bring in high traffic.
Statements From Representatives
The Director of the New Jersey Division of Gaming Enforcement explained to the public that the change was a small portion of new regulatory reforms recently passed in New Jersey. The goal of these reforms was to eliminate specific rules the casino operators felt were outdated. Therefore, this specific regulation gave casinos the flexibility to remove slot games that are no longer popular and replace them with newer and more exciting games.
The Director assured concerned players that casinos will not be permitted to allow the jackpots to build up, then be canceled, and then be added back to the gaming floor. This is not only an unethical practice but would also be illegal. It seems to be a coincidence that this reform comes at a time when the casino industry and the State of New Jersey are struggling with financial crises.