Great progress for S-490
On Monday, November 22, 2010, only two weeks after it met the committee’s approval, a New Jersey State legislative proposal S-490 will face Senate. This particular bill currently stands a good chance at making the State the first in the USA to legalise online gambling.
According to the bill, intrastate internet gambling should be legalized, which will bring up to $350 million per year to the State, and also help remove the need for State subsidization of New Jersey racecourses.
"People in other states would not be able to participate in such gambling - federal interstate laws make it illegal,” said Senator Jim Whelan D-Atlantic to the media, adding: "But with the revenue potential of online gambling, other states could soon follow New Jersey's lead. We're hoping to be the first state for this, but we won't be the last.”
"The Internet is not a new phenomena, but it wasn't around in 1978. The Internet is the reality now, and this is a chance for us to adjust to that reality," Whelan explained.