Latest News

New Jersey Online Poker Bill Moves Forward

Dec 9, 2010
Author: Susan Arnold
New Jersey Online Poker Bill Moves Forward

A key New Jersey Assembly committee has passed a dozen different bills related to the state’s gambling and horse racing industries, including a bill that would legalize online gambling for residents of the state.

The bills, in general, received broad support from both Democrats and Republicans in the state legislature. The bills are expected to be voted on by the entire Assembly before the end of the year, after which they would go to the desk of Governor Chris Christie. For his part, Governor Christie has not voiced objections to online gambling or the other measures being considered, though he has questioned the legality of online gambling.

The online gambling bill would do some very specific things, and would not change the online gaming situation for most of the United States. The bill would allow the creation of websites that would provide online gambling, including poker, to only New Jersey residents. According to the latest version of the bill, neither out-of-state residents nor international players would be permitted to play on these sites.

The bill would also set tax rates for the operators of these sites. The tax rate would be set at 15% on Internet gambling revenue. According to State Senator Ray Lesniak, who supports the bill, an economic analysis predicts that the bill would generate $210-$250 million in annual gross revenues.

About $30 million in tax revenue would then be used to fund purses for the state’s horse racing events, which would remove that burden from a similar fund that is currently taken from Atlantic City casinos. This would help solidify the position of the horse racing position, while removing a burden from the struggling Atlantic City gambling sector. Eventually, the fund would be eliminated and funded by off-track betting.

Supporters believe that the series of bills are likely to be signed into law by the end of the year. Other bills in the package include the creation of an Atlantic City Tourism District, new regulations for the casinos in the city, and incentive packages that will encourage horse breeders and trainers to remain in New Jersey.

Online Poker News Monthly Archive
MONTHLY ARCHIVE - 0
January
February
March
April
May
June
July
August
September
October
November
December
MONTHLY ARCHIVE - 2007
January
February
March
April
May
June July August September October November December
MONTHLY ARCHIVE - 2008
January February March April May June July August September October November December
MONTHLY ARCHIVE - 2009
January February March April May June July August September October November December
MONTHLY ARCHIVE - 2010
January February March
April
May
June July August September October November December
MONTHLY ARCHIVE - 2011
January February March April May June July August September October November December
MONTHLY ARCHIVE - 2012
January February March April May June July August
September
October November December
MONTHLY ARCHIVE - 2013
January February March April May June July August
September
October
November
December

Newsletter Signup - Get 10 free poker tips as well as our newsletter April 23, 2014

GO