Federal Bill in Senate
The Harry Reid bill to legalize and regulate online gambling in the USA is all but dead. It is our view that it has a less than 10% change of becoming law during this lame duck session of congress. The chances over the next 2 years are basically less than 1% since the Republicans will be in control of the House of Representatives for the next 2 years.
The bill that is set to regulate online gambling in the state of New Jersey is set for a final vote on January 6, 2011. If it is passed by the Assembly on that date it will then go to Governor Chris Christie’s desk for final approval. About a week ago a committee called the Regulatory Oversight and Gaming approved the bill with a 5-0 vote and if that is any indication this bill has a great shot at passing. The bill is currently in the Assembly Budget Committee and it’s our indication that it will pass this committee with ease.
One big new addition to the New Jersey bill is the addition of a provision not allowing non-USA residents to play on the New Jersey regulated market. This essentially totally closes off the market to only residents of New Jersey.