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Sports and Online Gambling Bill up for debate in New Jersey Legislature

The June 20, 2023, By Bernard Lamothe

The State of New Jersey has been trying to find a way to counteract the ailing economy in general, and to find ways to reap new revenue from taxes, most notable from the casinos in Atlantic City.

The State of New Jersey has been trying to find a way to fill its empty coffers, and to raise the tax revenue from its Atlantic City casinos. Several suggestions have been put forth, with several options seeming more viable than the rest. One of them is in the field of online casino gambling and sports betting, two revenue sources that have until now been underutilized.

State Democrats have put forth a proposal to hold a public vote this autumn. Several legislators have submitted their own online gambling legislation, and opposition has been met with across the board. Not only are the existing racetracks seeking to hold on their monopoly, and to get a piece of the pie. But there has been new and unexpected opposition to online casino gambling.

Atlantic City’s 11 casinos have been seriously under performing throughout the recession, and legislators are grasping at straws for additional tax revenue. Having been decimated by recession and out of state competition, the 11 casinos have been floundering.

The possibility of regulated New Jersey Online Gambling is looking bleak, but the odds, despite how slim, are posted. Voters may ultimately have some say in how the wind blows over this issue.

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