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NJ Takes Step Towards Legal Sports Betting - 07-05-09 |
July 5 - Governor Jon Corzine of New Jersey carried out what he promised to do and submitted a motion to support a lawsuit to legalize sports betting in the majority of states in the country.
The lawsuit was filed by the Interactive Media Entertainment and Gaming Association (iMEGA) together with Senator Ray Lesniak and will essentially lift the ban on sports betting in 45 states, including New Jersey.
Last month, Corzine noted his intention to support the lawsuit and he carried out his promise by submitting a motion over the weekend.
The motive behind Corzine's move is his fear that New Jersey is being economically deprived by being left out of the sports betting industry, along with other states. A number of states in the US, namely Delaware, Montana, Oregon and Nevada are not obliged to ban sports betting under the Professional and Amateur Sports Protection Act, know as PASPA.
"Today's filing sends a clear message that we will not sit back and allow the selective prohibitions of this law to deprive New Jersey from the economic benefits sports betting can generate," said Corzine. "We must do everything in our power to ensure both the casino and horse racing industries in New Jersey remain competitive, especially during the national economic recession."
Lesniak and iMEGA are hoping to have it ruled that PASPA is unconstitutional, and if this goes through, New Jersey will begin proceedings to allow its casinos and betting institutions to introduce sports betting.
Governor Corzine has argued that up to $100 million could be generated in tax revenues and that the state's residents could spend up to $10 billion on their sports betting each year.
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