Online Gambling Bill approved in New Jersey

A much awaited event has already happened in New Jersey when a bill has been signed making them the first state in the United States to regulate online casino gambling. Last November 15, 2010 (Monday), the Senate Budget committee approved the legislation, paving the way for the said bill to move along in the state legislature.

It was Senator Ray Lesniak who introduced the legislation back in January of 2010 and also the one who worked hard for the cause, which tends to help in improving the growth of race tracks and Atlantic City casinos with increased revenue. The bill seeks to allow casinos to offer online gambling, including poker, to the residents of the great state of New Jersey.

Via twitter, the outcome of the committee was immediately reported by iMEGA head Joe Brennan Jr., stating that the step in question was clearing a state senate budget committee and the outcome was a clear vote in favor of moving the bill forward, with 10 for and one against. He clearly said, “NJ Internet Gambling bill passed the Senate Budget Committee by 10-to-1 vote, bill now moves to the Senate for final passage”.

Aside from Senator Lesniak, there's another person who wanted to legalize the casino games. Since online poker has become one of the most popular form of entertainment in the U.S, representative Barney Frank seeks to change the current laws in order to license the gambling companies in the country.

Going back, the law strongly emphasized that the online gambling rooms would only be allowed to offer their services to customers within the state of New Jersey.

The Unlawful Internet Gambling Enforcement Act (UIGEA) was formed way back in 2006 in an attempt to stop online gambling from spreading out in the U.S. However the law was never a success so far, and legislators have been looking to have it overturned. Hence, individual states have decided to take charge and have decisions pertaining Internet Gambling Laws by themselves. Aside from New Jersey, Florida and California lawmakers also have decided to look into the possibilities of online poker regulations.

Currently, the state horse racing industry receives a $30 million annual subsidy from Atlantic City casinos. That $30 million would be eliminated, but it would be replaced by at least the same amount from the online gambling revenue. The amendment has the support of many senators, and Governor Christie is currently looking into the legislation.