New Jersey Gov Approves New Betting Exchange But Not Internet Gambling

Last week, New Jersey Governor Chris Christie signed two bills into law. The bills  (A-2926 and S-2229) has been passed by the New Jersey congress in January as a package designed to stimulate the casino and betting economy of Atlantic City, the Eastern United States’ land-based gambling hub.

Although the bills signed into law effectively legalize exchange betting, setting up a new peer-to-peer wagering platform, they don’t yet include the Internet gambling bill that was passed as part of the casino redevelopment package.

That’s ominous; it suggests that Christie doesn’t support the Internet gambling law.

All the same, iMEGA Chairman Joe Brennan Jr is called Christie’s move an important first step in creating an American igaming hub.

Brennan had previously stated that he felt New Jersey was positioned very favorably to become the American center of online gambling regulation.

“By endorsing the exchange wagering bill, Governor Christie is showing the kind of leadership that can turn New Jersey into the centre of iGaming in the US,” Brennan stated in a news release. “Hopefully, exchange wagering will become one part of a suite of iGaming offerings that NJ-based firms can offer to state residents, and eventually, the rest of the country.”

“Sponsored by New Jersey General Assembly Democrats Craig Coughlin, John Burzichelli and Annette Quijano, A-2926 has been designed to boost interest in horseracing in the state and permits the New Jersey Racing Commission to issue a licence to the New Jersey Sports and Exposition Authority that would allow it to operate a betting exchange,” the news release further explained.

“These measures represent the next steps in following through on my administration’s commitment to securing a strong, independent and self-sufficient horseracing industry in New Jersey,” Christie’s statement continued. “We are providing new tools to help the industry implement new strategies, generate additional revenues and capitalize on interest in horseracing around the state.”