Atlantic City Casinos May Soon Go Online For Betting For State Residents

June 4th, 2010-  By Bryan Cross

New Jersey could see some changes in the near future if the state Senate has anything to say in relation to online gambling in the state.

Games such as blackjack, craps, baccarat,  and others that are readily available at Atlantic City casinos may be available to play legally online.

This week, the Senate Wagering and Tourism committee introduced a bill to the floor that would let Atlantic City’s 11 casinos in the area formulate websites for residents of the state of New Jersey to play and bet online.

The state would be in charge of the regulation of the websites and incur a 20 percent revenue tax of all 11 casinos sites.

Sen. Ray Lesniak is the sponsor of the new bill and stated that the bill he believes would have 500,000 residents of the state participating in the online gambling, and around $150 million a year.

“This bill will provide an astounding number of revenues and jobs for the state of NJ for our casinos who are struggling and for reinvestment in Atlantic City,” remarked Lesniak.

Currently, Federal law does not allow for government to regulate online gambling through state lines.  However, those in the gaming industry have said to state lawmakers that online gambling run by the government could soon be readily available across the world.

“Establishing intrastate Internet gaming for state residents will enable New Jersey to funnel new and existing online players into sites licensed through Atlantic City’s casinos, capturing previously lost tax revenue and offering New Jersey casinos a new channel for driving traffic to the resorts,” said William Pascrell III, who is a lobbyist for online gambling.

If this is able to come full-circle, New Jersey Online Casinos could see a huge revenue stream come through for them, and potentially expand the Atlantic City gambling industry that has struggled of late.

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