Internet Gambling Legalized New Jersey

Senators based in New Jersey have met to discuss a bill which would take into account an enterprise that will regulate and impose mechanisms of an intrastate egaming system to boost the sliding Garden State’s race tracks and internet casinos, hopefully they would have reached a decision before this year is out.

Senator Raymond Lesniak is championing this bill and introduced it in January, in it he proposes the state’s that Atlantic casinos should offer internet gambling as an off-shoot of the land-based games to state citizens, such as poker, blackjack and baccarat; in turn the state will receive annual tax revenue on gambling profits of 20%.

In an interview before the bill’s review by the Senate Government, Wagering, Tourism and Historic Preservation Committee, campaigner William Pascrell III informed a local news paper “The Record” that it is currently experiencing a “perfect storm”, it finds itself in dire economical woes in tandem with a massive decline in horse racing and backsliding Atlantic City casino industries, this is one of the issues that would be discussed whilst attempting to legalise egaming.

“There is a distinct possibility that New Jersey could be dubbed the global mecca for online gambling operators,” Pascrell told the paper, in addition regulatory and licensing matters must be discussed within six to nine months before the bill is implemented.  The Committee is contemplating by means of giving exchange betting on horse racing the go-ahead, after the NJ Assembly accepted the model in July.

A recent survey conducted by lobby group the Interactive Media Entertainment and Gaming Association (iMEGA) worked with Lesniak on drafting the bill, has made an estimation that if imposed a NJ intrastate gambling system could raise up to US$250m in gross gaming revenue and US$55m in taxes yearly.

Lesniak, iMEGA and Senate President Stephen Sweeney are locked in a battle with the US Department of Justice (DoJ) to discharge their attempt to overturn the 1991 federal law barring state-controlled sports betting.

Lesniak and iMEGA had a couple of heated arguments with US internet casino giant Harrah’s over the internet casino and sports betting proposals, reproving it of opposing to hold a referendum on legalising sports betting at the state’s racetracks and online casinos, a charge it denies, and also to efforts to pass a bill permitting Atlantic City’s casinos to offer the games online.  The nationwide regulation of egaming enjoys Harrah’s full support.