The bill will be on a 10-year trial basis, and Christie also "raised the taxes on the Atlantic City casinos' online winnings from 10 to 15 percent."
Nevada and Delaware were the only other states to have legalized online betting, but they are notably smaller in population than New Jersey.
"This was a critical decision, and one that I did not make lightly," Christie added. "But with the proper regulatory framework and safeguards that I insisted on including in the bill, I am confident that we are offering a responsible yet exciting option that will make Atlantic City more competitive while also bringing financial benefits to New Jersey as a whole."
The move will bring added revenue to the state, and also (hopefully) attract new gamblers to the physical casinos spread across Atlantic City. Comps such as free hotel rooms, tickets to shows, and meals and drinks can be accrued online and then redeemed in person.
Governor Christies' full speech:
I am pleased to say that today I signed New Jersey's Internet Gaming Bill, opening the way for new opportunity to bolster our efforts to continue the revival of Atlantic City, its casinos and entertainment offerings. This was a critical decision, and one that I did not make lightly. But with the proper regulatory framework and safeguards that I insisted on including in the bill, I am confident that we are offering a responsible yet exciting option that will make Atlantic City more competitive while also bringing financial benefits to New Jersey as a whole. I want to thank the sponsors for working quickly to include my recommendations to improve the bill.
Written by: Andre Yoskowitz @ 27 Feb 2013 12:23
