USA Gambling

Recently, The New Jersey Assembly passed the bill to legitimize the online casino industry within their jurisdiction. This is the very first state in the US to do it. For the law to be possible, the NJ Governor signed a bill within 45 days and vetoed it. The law went back to the legislation and if the bill is not signed by the Governor, it will become a law in the New Jersey.

What is it for NJ and the US in general?

For the state of New Jersey, this will help in getting good revenue for the state so that they could create jobs that are needed by the people. That is just one aspect of it. With this legalization of online gambling, other states could follow suit and create a bill that is of a similar kind to the NJ one. There are tons of services that are being cut down and legalizing casinos online could be a good alternative to create a balance. This is also good news for existing land based casinos to implement their own online branch. Some casinos in Atlantic City are already experiencing the financial drought and with this new law, it could help them in creating a new channel for finances to flow.

US Department of Law: A challenge

Because of the UIGEA Act as well as the Wire Act, there is some road blocks that needed to be crossed so that the online gaming can become a legal activity. Until this time, Barney Frank is still pushing for making online gaming a legal act but this bill is still pending. The House however is in control of the Republicans so it might take a whole for the legislation of Frank to be considered. It is also necessary to reiterate that the Wire Act is specifically for sports betting which was not part of the NJ Bill.

Hitting 2 birds with one stone

According to a press release, a certain senator from the Committee on Finance made a proposition to pay for this new health care reform and make the casino online a legal act. This amendment will ensure that tax revenues from the gambling sites are directed to paying for the reform on health care.

Another Congressman passed a bill for the legalization of the said online activity called the Internet Gambling Regulation and Tax Enforcement act. This act can be applied on corporate, individual as well as licensing fees for activities related to gambling online. This is said to create a multibillion revenue an so if this bill is passed, players from the US can already play with no fear and they could also make contributions to the healthcare.