|Online Casino News|
Congressmen Frank Pallone (D) and Frank LoBiondo (R) are the men behind this bipartisan effort. As part of their collaboration, they have delivered a letter to their fellow politicians, asking for support for their bills. Both men have a longstanding reputation within the government, which should bring in a decent amount of backing.
“New Jersey has been clear about its intent to host sportsbetting,” LoBiondo writes. “Legalizing sportsbetting would strengthen Atlantic City in the face of stiff competition, giving it an additional edge to attract visitors and critical tourism dollars.”
“Sportsbetting is widely supported in the state of New Jersey,” added Pallone, “but federal law stands in the way of considerable revenues that will undoubtedly benefit the state.”
Currently, sportsbetting is prohibited under the Professional and Amateur Sports Protection Act of 1992. In order to circumvent this law, HR 3081 would grant an exception to the Garden State. Should this come to pass, HR 3797, as previously mentioned, would then allow other states to pass their own laws on the matter.
As always, money has become a huge motivating factor in these talks. According to iGaming Business, the implementation and taxation of sportsbetting in New Jersey could bring in “billions” of dollars. Voters have already shown considerable support for the idea, coming out in favor of a statewide referendum which allows wagering in casinos and at racetracks.