New Jersey Legislature Sends Online Gambling Bill To State Assembly

November 27th, 2010 – by Glen Farmer

On Monday, a vote was held by the New Jersey State Senate that would legalize intrastate online gambling. The vote was won 29 to 5, and is the first step in creating a framework that would allow online gambling sites to be operated by the state’s casinos.

These online gambling ventures, which could hold poker rooms and casino games alike, would be based on servers within the casinos in the state. Only New Jersey residents, and possibly In

The successful vote in the Senate must be followed by a successful vote in the New Jersey State Assembly. With 80 members in the assembly, the bill will have to pleas 41 or more assembly people.

Under the Unlawful Internet Gambling Enforcement Act, each state has the right to decide on whether or not online gambling would be legal in their state. New Jersey would be the first to introduce legislation specifically allowing online gambling.

From a federal standpoint, the United States would earn an estimated $70 billion in tax revenue over ten years from online gambling. The ban on online gambling effectively costs money, though some is brought in from the chronic cash seizures that are drawn from accounts that correlate to online gambling.

The date for the vote in the Assembly is expected to be in 2011.

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