Things moving pretty fast for online gambling launch in New Jersey

Not so long after Governor Christie approved online casinos in New Jersey, things are moving pretty fast in the state.

Casino regulators are taking every step possible to make sure that they can offer internet gambling quite fast there. They believe that on Thursday, the regulation’s first draft is going to be ready. Experts believe that with such a fanatic pace, the first website might be launched before Christmas.

Nelson Rose, who is a professor at the Whittier Law School as well as a gambling expert, feels that he does not see a reason for the website to be not up and running by the year-end.

He also feels that the online poker legalization might be a successful move for Governor Christie. There are chances that it is going to create immense revenue, which will help in saving Atlantic City.

Last six years have turned out to be a nightmare for Atlantic City, as their revenues have fallen constantly due to the increasing competition from the neighboring states. Again, the recession has also contributed a lot to their cause.

The city’s revenue was at its highest in 2006, when it touched USD 5.2-billion, but things went sour since then. Revenue dropped to just around USD 3 billion in the previous year.

If you go by the budget estimation of Christie, he feels that next year, there might be an increase in gambling revenue by USD 200-million. And most of the increased revenue is going to be contributed by internet gambling.

If you consider his assumption to be correct, he is expecting that internet gambling will be generating USD 1.2-billion in its first year. Some experts believe that this figure might increase with time. However, there are others, who believe that such a figure is not possible to attain, even in the next 5 years.

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