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The Senate Budget Committee in New Jersey has paved the way for a measure that would ultimately legalize online gambling for state residents. State Senator Ray Lesniak (D-Union) is behind the bill that would make online poker, sports betting and casino games available to some 8.7 million people from the comfort of their own homes. New Jersey is the 11th most populous state in the U.S. If a country, its population would be the 90th largest in the world, ahead of Israel, Denmark, Finland, Norway and Ireland, all of which are lucrative online gambling markets.
Lesniak has said that full implementation of online gambling would bring an estimated $350 million in annual revenues to the state.
The Internet gambling bill also includes a provision for the racing industry, which is vital to New Jersey’s economy.
A percentage of the amount of tax generated by online gambling will go directly towards the horse racing industry, including augmentation of purses.
“We want to thank Senator Raymond Lesniak [D-Union] for his sponsorship of S490 and his leadership in clearing this latest legislative hurdle with one of a series of bills that emerged from the testimony we presented before the senators and assembly members who participated in this past summer’s gaming summits,” said Tom Luchento, president of the Standardbred Breeders & Owners Association of New Jersey.
“We feel that the senate leadership, including Senator Lesniak, Senator Paul Sarlo [D-Bergen, Essex & Passaic] and Senate President Stephen Sweeney [D-Salem, Cumberland & Gloucester], heard our concerns and have hammered together a legislative package that will help to generate the funding we need to secure racing’s future in New Jersey.”
- Christopher Costigan, Gambling911.com Publisher
