Online Poker Legalization Might Push Through in New Jersey 11/21/2010

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Supporters of online poker in New Jersey said that at least a half-million New Jersey residents already are playing poker online, and that could make the state the first in the nation to explicitly legalize such betting online. Under the bill sponsored by state Sen. Ray Lesniak, D-Union, poker, baccarat, and other classic casino games could be played by New Jerseyans while within the state's borders — with New Jersey collecting 20 percent of the annual gross gaming revenues or more than double what Atlantic City casinos take.

William Pascrell III, a lobbyist for the online poker bill, said the state is experiencing a "perfect storm" — an economic recession coupled with struggling horse racing and Atlantic City casino industries. All three issues, Pascrell said, could be addressed by allowing online casino gambling. A portion of the proceeds could go to the state Treasury, another portion could subsidize horse racing revenues and casinos also would benefit, he said.

On their Senate meeting last November 8, they reviewed the online poker betting bill and half a dozen other bills relating to horse betting and casino industries.

On their Agenda:

• Authorize "exchange wagering," a new form of betting on horse races.
• Allow towns that agree to accept an off-track wagering site to receive a slice of its gross gaming revenues.
• Reduce the required number of standard bred racing dates at state tracks to 101 from 141.
• Streamline and modernize regulations of Atlantic City's casinos.

The legalization of online gaming will generate a number of 4,000 to 5,000 immediate, direct jobs and an annual revenue of $50 million said Pascrell. Will this be the ground for a much bigger chance that Online Poker and other online gaming be legal?

Source: Nort Jersey

 

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