Floodgates open as Garden State becomes third state to enable form of Internet gambling.
New Jersey Governor Chris Christie signed a bill on Tuesday which made New Jersey the third state in the United States of America to legalize some form of online gambling in the past eight months.
New Jersey Says Yes
The new law, which passed the state legislature just hours before Christie's signature, sets up a 10-year trial period for online betting. During that time, the state will issue online gambling licenses, and taxes on Atlantic City casinos' online revenues will rise to 15 percent from the current mark of 10%.
Gamblers will be able to set up accounts while physically present in the state, with industry executives and regulators confident they can track locations with the latest technology. However, as is the case with the Nevada ruling, bets could conceivably be made by anyone with an internet connection.
Christie said following the signing that he did not make the decision lightly. He explained that with the proper regulatory framework and safeguards that he insisted on including the bill, this will make Atlantic City more competitive and bring financial benefits to New Jersey as a whole.
Following Nevada and Delaware
This is the second game-changer in the US online gambling market in the space of one week. Last Thursday, Nevada Governor Brian Sandoval last week signed a law authorizing local firms to host online gambling for non-Nevada residents. That law effectively creates a nationwide framework for Internet gaming, despite the failure of federal regulation attempts.
In a move that set some precedent without changing the state of play at a national level, Delaware legalized online betting at its three racetrack casinos last June, although the measure has yet to be implemented. It hopes to have everything up and running by this coming September.
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