Silicon Valley of Internet gaming

NEW Jersey has been given the green light in the gambling world. Well, nearly. It was reported that an internet bill is currently making its way through New Jersey legislature, allowing Atlantic City casinos to take bets from gamblers from other states. Providing its legal of course.

The measure was approved Tuesday by a state Senate committee.

“This is another step forward toward my goal of New Jersey becoming the Silicon Valley of Internet gaming, generating hundreds of millions in revenues for our casino industry, thousands of jobs for Atlantic City, and tens of millions of revenues for our Casino Revenue Fund to help seniors and the disabled,” said Sen. Raymond Lesniak, a northern New Jersey Democrat who has been the bill’s most vocal supporter.

There are still some obstacles to overcome however, such as legal challenges and demand by supporters of horse racing that the state’s tracks be allowed to offer Internet gambling as well.

The Associated Press reported that New Jersey has been racing to try to get Internet gambling up and running and stake a claim to leadership in a potential multi-billion-dollar industry. The bill, which now heads to the full Senate for a vote, would allow bets to be accepted from other states and nations if the state Division of Gaming Enforcement determines it doesn’t violate federal laws. Internet gambling revenue would be taxed at 10 percent, up from the 8 percent casinos pay on regular slot and table games revenue.

New Jersey was poised to become the first state in the nation last year to offer in-state Internet gambling, but Christie vetoed the bill. The Republican governor expressed doubts about its legality and worried about the possible proliferation of “Internet cafes” and back-room betting joints.