New Jersey looks to make Sports Betting Legal
New Jersey General Assembly passed a measure paving the way for sports betting in Atlantic City with a 58-17 vote. The bill could be on the states ballot during the Presidential Election in November 2008, which is anticipated to have record turn out.
New Jersey Legislation Assemblymen Paul Moriarty, Louis Greenwald, Nelson Albano and John Burzichelli were the sponsors of the bill that could pave the way for Atlantic City casinos to start take bets on professional sporting events.
Co-sponsor Louis Greenwald commented “Ever since its inception, Atlantic City’s casinos have scored big for taxpayers, senior citizens, and residents with disabilities. Now, aggressive marketing campaigns from out-of-state gaming interests have become a real and present danger to Atlantic City. With one of the state’s most important industries in the crosshairs, it is imperative that we seize this unique opportunity.”
Atlantic City casinos have been under mounting pressure from rival casinos owned by Native American tribes north of New York City specifically Foxwoods Hotel & Casino in Connecticut. The move would boost the entire New Jersey economy.
“Sports betting already exists in New Jersey, but only the criminals are enjoying the profits,” said John Burzichelli . “Legal, carefully regulated sports wagering would bolster both Atlantic City and the state. New Jersey should go all-in.”
“Sports fans put billions of dollars on the line every year, regardless of its legality,” said Moriarty. “A legal Atlantic City-based sports book would ensure bettors are not fleeced or put in harm’s way.”
If approved by New Jersey voters already tolerant to gambling, Atlantic City casinos would be regulated by the states Casino Control Commission and able to accept walk up sports wagers solely on professional sports.
The casinos would not be able to offer wagering on collegiate sports.
Add comment February 9th, 2008