New Jersey Legalizes Online Gambling
Gov. Chris Christie just signed a bill that will make online gambling legal in New Jersey. This makes New Jersey the largest state so far to allow the practice. The New Jersey state Senate and assembly both approved a new version of the bill which Christie submitted with changes after vetoing an earlier version. Here is what Gov. Chris Christie had to say:
I am pleased to say that today I signed New Jersey’s Internet Gaming Bill, opening the way for new opportunity to bolster our efforts to continue the revival of Atlantic City, its casinos and entertainment offerings. This was a critical decision, and one that I did not make lightly. But with the proper regulatory framework and safeguards that I insisted on including in the bill, I am confident that we are offering a responsible yet exciting option that will make Atlantic City more competitive while also bringing financial benefits to New Jersey as a whole. I want to thank the sponsors for working quickly to include my recommendations to improve the bill.
While the bill only allows Atlantic City casino companies to take online bets, the WSJ believes that those casinos will partner with overseas companies that provide services for online gambling, potentially opening up a bigger market. The goal of the program is to eventually draw online gamers into the casinos; gamblers will accrue comps like free hotel rooms and meals through playing online that will obviously have to be redeemed at an actual casino. The law will expire after 10 years, which will allow the state to review and decide whether the program was working.
Source: The Verge