The governor of New Jersey, Chris Christie has vetoed an online gambling bill earlier this month but he stated a few changes that he wants to see happen in the bill before he signs it. Last Tuesday, the governor dealt another winning hand to online gambling operators by stating that he is not going to waste any time and he will not hesitate in signing the intrastate internet gambling bill. This bill is being amended and if it meets the demands that he stated when he vetoed it; he will certainly sign it on the same day it is presented to him on his desk. He made that statement during a public gathering.
The staffers are currently working on applying the demands of the governor to the bill and the draft of these amendments are expected to be presented to the Senate and House sometime in the upcoming week. This intrastate internet gambling bill is being driven by Raymond Lesniak, the State Senator. Both houses are planning to pass the bill and to have it ready on the governor’s desk by the 26th of February.
The state of New Jersey is not the only American state that is hoping for a legalized internet gambling market. Many companies in Silicon Valley in the San Francisco bay area are hoping for the same. These hopes came as a result of the fading of the laws that prohibit real money wagering. This could mean that online gambling in the U.S could pretty much be the next $1 billion industry.
The gambling industry in the United States is currently controlled by a small number of land based casinos and powerful Indian casinos. There are numerous gambling developers in Silicon Valley and other parts in the US who are generating revenue overseas and they would want to turn their attention to the US and make money in their home country. According to numbers, internet gambling has generated almost 32 billion dollars in yearly revenue overseas, which is nearly equal the casino market of the US.