State Sen. Raymond Lesniak, D-Union, was proposing legislation to expand Internet gambling in New Jersey before it had even begun. First, he proposed allowing international online gambling companies to operate in New Jersey, where their credibility among gamblers would presumably be boosted by being subject to the state’s strict licensing requirements.
Then, at the urging of state Sen. Jim Whelan, Lesniak amended the proposal to require that the companies operate out of Atlantic City. (Lesniak’s original proposal also required the companies to contribute to a fund that would raise $20 million a year for the state’s horseracing industry – with Lesniak, there’s always something involved for the racetracks.)
But now, Lesniak and Whelan have teamed up on a far simpler and more sensible bill: It would allow any casino licensed in New Jersey and its Internet gambling affiliate to offer interstate and international online gambling to any gambler in a state or nation that allows such wagering. Currently, in New Jersey’s fledgling intrastate online gambling industry, the casinos and their partners can take bets only from people physically in the state.
All equipment used to conduct interstate and international gambling would have to be located within the territorial limits of Atlantic City, under the Lesniak/Whelan bill.
So obviously, the measure would greatly expand New Jersey’s online gambling market – to the direct benefit of the Atlantic City casino industry.
This a far better approach than Lesniak’s earlier attempts at expanding Internet gambling and giving it the credibility it needs to thrive in the United States.
The bill also requires all payment processors for Internet bets to be licensed as casino-service industries, a move designed to convince banks to allow their credit cards to be used for online gambling. Several major financial institutions, wary of federal law, have been hesitant to approve online gambling transactions. Knowing that they are doing business with a payment processor licensed by the state of New Jersey should alleviate those fears.
The Legislature should move quickly to approve this bill. It’s a straightforward measure with a large upside for the state and Atlantic City. With a population of 9 million, New Jersey’s intrastate online gambling market is already significantly larger than the markets in the two other states where it is allowed – Delaware and Nevada. And letting N.J. casinos take interstate and international bets online would be, as Lesniak says, “the $30 billion Big Kahuna.”
This is a reprint from pressofatlanticcity.com. To view the original, click here.
