Bye-bye Ucasino NJ

[bigjohn]

Just got an e-mail from Ultimate Casino that as of tomorrow, 9/21/2014 at 11:59 PM, gaming on their site and Ultimate Poker will cease as Ultimate are terminating their agreement with the Trump Taj.

Till 9/28 accounts will still be accessible in the normal manner and on 10/5 the site will no longer be accessible and any remaining balances will be refunded to players registered addresses.

Don't know what it is all about and if the Taj will try to pick up a new partner, I sure hope so. This comes soon after Resorts have announced that they will start getting into the on-line gaming biz. Their preview site is showing games from NextGen (maybe I will get to play the Casinomeister slot :yahoo.

Anyways, time will tell, hopefully this is not the start of something bad as we are about to turn 1 year old.

 

[lnspin]

Taj stiffed them for 1.5 Million..

"Ultimate Gaming accuses its land-based partner, the Trump Taj Mahal Casino, of "multiple contract breaches", saying it hasn't been paid in two months and is owed $1.5 million by the Trump Entertainment Resorts-owned casino."

Add to this taj is closing in november

 

[P.V.]

I haven't been following this stuff lately but I'm a firm believer that there is no way multiple online casinos can compete in just one state like N.J.. This is why many casino's never got onboard with poker in Nevada.

In its current state maybe a couple will survive in N.J. within the next couple years and the rest will leave.

Also many players still prefer to play offshore and even the powers of N.J. can't stop that completely...

 

[tennis_balls]

it sucks when you get cheated, eh Ulitimate Gaming?

 

[nisosbar]

Anyways, time will tell, hopefully this is not the start of something bad as we are about to turn 1 year old.

Big John, since you are in New Jersey, have you stopped playing at offshore casinos? I would be curious to know that, and also the advantages and disadvantages of playing offshore, in terms of RTP, cashout speed, customer service, etc. Thanks.

 

[bigjohn]

Big John, since you are in New Jersey, have you stopped playing at offshore casinos? I would be curious to know that, and also the advantages and disadvantages of playing offshore, in terms of RTP, cashout speed, customer service, etc. Thanks.

I haven't deposited to any off shore since regulation kicked in here. Everything is much better IMO.

I have had cashout's in 36 hours or less direct deposited with no fees, multiple deposit options including putting cash in at local convenience stores or debit card also with no fees.

RTP's are mostly in the mid 90%'s. CS is good but you hardly ever need them. Bonuses are generally small but only require 1X to 5X play through. If anything I feel some of the games are set up in a lower variance configuration but that's just my feeling.

IMO, no down side for me.

 

[tennis_balls]

RTP's are mostly in the mid 90%'s.

do they post the RTP info anywhere bigjohn?

do they send you a tax form at the end of the year with your total gains/losses?

thanks

 

[cheetahwind]

While I realize Ultimate Casino was a goner from the beginning. Mainly because of having a weak partner.

I really think NJ is going to have heck of a time getting more profits for it's online casinos. Unless if it really steps up it's game and starts negotiating with other states for allowing online gaming in them.

I've been reading a bit about all of these closures in Atlantic City and also in Vegas of casinos. Let's all face it. With almost a casino within a state or two of any resident in the US. The land based casino market is becoming way too saturated.

I know here in Iowa we have 19 casinos, 19 CASINOS. Do you know how insane that number is. Iowa for 1 isn't that large of a state. Whomever in our gaming and racing commission thought that it would be a wonderful idea to allow so many casinos in our small state must have seen better numbers than what are being posted. Yes it's nice to know there's a casino within a 80 mile driving distance for every citizen in the State of Iowa. Yet there isn't going to be enough regulars or even high rollers to keep all of these casinos going.

So with that being said, with 19 casinos in Iowa. No wonder Atlantic City is having so many issues with getting people in. Who wants to sit in an airplane to go gamble in Atlantic City, when you can drive within 80 miles of yourself and find a casino that will take your money or pay you just fine.

I guess I'll agree with Trump on this one, states are seeing these land based casinos as a huge source of great revenue. Yet what's so great about it, if it's going to become over saturated, cause more bankruptcy, and probably end up screwing over lots of local businesses in the end that provided services, supplies, and consulting to these casinos. How is this the positive revenue there talking about.

While I'm sad to see the first online NJ casino go, the writing is already on the wall. Unless if NJ cause get something going better than what it has right now. I don't see online gaming in NJ or even in Nevada being very big. Until they get more states and gamblers on board.

 

[bigjohn]

do they post the RTP info anywhere bigjohn?

do they send you a tax form at the end of the year with your total gains/losses?

thanks

All the different slot games give me a screen on the last page of the paytables that gives the RTP like this;



That last paragraph is pretty funny too but I guess there has to be some limit!

On the tax issue, they do not automatically send anything but they have win/loss statements available. Taxes are done the same way as our B&M casinos do it; technically, players are supposed to report all gambling wins on their Federal Tax Return and you can deduct your losses up to the amount of the wins you claim but the casino only directly reports player wins of $1200 or more for a single slot wager to the Feds. As far as I know, there is no NJ State tax on wins from any NJ casino.