New York & New Jersey ready for Online Gambling

Written by Gambling News on January 12, 2012. Posted in News

Following the recent US Department of Justice has ruling on the Federal Wire Act both the states of New York and New Jersey are legally ready for online gambling. Nomura Securities Gaming analyst, Harry Curtis says that there will be further changes in other states’ legislation allowing online gambling as it is a source of revenue by means of taxation.

Curtis added that the States of Nevada, California and Illinois could well be the first ones to approve online poker. This all came about following a ruling by the US Department of Justice on the Interstate Wire Act of 1961. This law has been preventing online gambling in its entirety but the recent ruling has indicated that is applicable only to sports betting. 

All of this has come after the DOJ aggressive shut down of the biggest Online Poker sites in the USA and the deaprture and closure of many online casino brands that took players from the USA.

Roger Gros, publisher of Global Gaming Business, says that as a result, many States are vying to introduce online poker laws so that they can offer it through their own lottery system, without the involvement of the federal government. In 2011, New Jersey collected $2.6 billion from lottery tickets. Very soon, New Jersey and New York’s legislature will engage in bills re online poker and other gaming matters.

Gros said that Nevada and California are even thinking of having a joint poker room, in order to have a huge billion making betting pool. He says that this would not be a problem for state lotteries because they are already running multi-state games, such as Mega Millions and Powerball.State lotteries certainly have an advantage in this area as they are already operating online and have all of the building blocks in place to ensure smooth running of any online gambling that does become legal.

All that remains is now for the Federal government to adopt legislation re online gambling. This however is more difficult than it seems as there are so many special interests involved.

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