Gambling industry insiders, politicians and punters in New Jersey, home of the decrepit Atlantic City, are hungry for legal sports betting. The internet betting in United States is a source of tax revenue and the power that comes with it. The legalization of betting in the state will be put to a residents’ referendum in November.
Under current United States gambling laws, intrastate sports betting is only permitted in a handful of states. In the early 1990’s the federal government passed a law forbidding any additional states from legalizing sports betting. New Jersey politicians were told at that time to either pass a law allowing sports betting or accept the prohibition. New Jersey politicians, never known for their intelligence or foresight, declined to legalize sports betting when they had a chance.
Today, sports betting is banned in New Jersey, and a new referendum could put an end to the prohibition. The state lawmakers already expressed their support for the legalization when the proposal by Sen. Ray Lesniak, received widespread support in both chambers.
If the voters successfully approve the referendum, the state will be able to start discussions with federal authorities a way to bypass the federal law. New Jersey Constitution needs to be updated to allow any kind of sports betting including betting on college, amateur or professional sporting or athletic event.
Several sources claim that the betting market in the state could bring as much as $200 million for the struggling sewer that was once the mighty Atlantic City. The Casino Association of New Jersey already started its campaign to gain the voters’ approval of the measure.
President of the Casino Association of New Jersey, Robert Griffin, told United States gambling news: “This November referendum, if passed, would provide an important step in the continuing process towards overturning the federal sports betting ban. If the referendum is passed & if the federal ban is subsequently overturned, legal sports betting would provide an economic boost for Atlantic City & the entire state of New Jersey.”
Various industry insiders suggest that the referendum has a very good chance of reaching a positive result. Back in April this year a Fairleigh Dickenson University survey poll found that 53 percent of respondents were in favor of legalized sports betting, while 30 percent were against the measure.