New Jersey is all set to become the first state in the US to regulate online casinos. The gambling community is celebrating and waiting patiently for Governor Chris Christie to put his signature on the legislation that would legalize gambling in the state. Unfortunately, these gamblers will have to hang on to their patience for some more time.
With both the Senate and the Assembly having passed the legislation without facing any major hurdles, the path is clear for the Governor to go the whole hog. But Christie is weighing all the options and contemplating if he can handle the immense political pressure that can come along with signing such a path breaking bill. The fact that he will be referred to as the one who set the precedent for legislating gambling in the country must weigh heavily on his mind.
If the Governor does finally sign the law as he is most likely to, he will undoubtedly gain the support of millions of gamblers across the country. This support can come handy if he decides to run for higher office. On the flip side, there is every possibility of losing key supporters within his own party if he signs the legislation. Which way the Governor will move will depend on his future political plans and a final decision about signing the law will not be made in haste, according to political observers.
New Jersey is reeling from the loss of millions of dollars in revenue from the Atlantic City casinos. This city has been hit badly by the flagging economy. The Atlantic City casinos will no doubt receive a tremendous boost if they were allowed to offer online gambling facilities to the gaming enthusiasts of the state. If online gambling gets a legal status, it is estimated that hundreds of millions of dollars would be added to the state budget from tax revenue.