Have I ever mentioned how awesome Chris Chrsitie is?
Associated Press: “New Jersey Gov. Chris Christie signed a bill Tuesday legalizing Internet gambling, hours after the state legislature passed a revised bill that made the changes he wanted. They included setting a 10-year trial period for online betting, and raising the taxes on the Atlantic City casinos’ online winnings from 10 to 15 percent.”
Both Nevada and Delaware have already signed similar laws. This is a complete no brainer. We all gamble… constantly. Just look at all the blogs and Twitter accounts like this one that constantly talk about weekly picks or prop bets, etc. It happens. And it doesn’t all happen by flying out to Vegas every weekend. We know bookies. Or use offshore gambling websites. But either way, there is a substantial revenue stream that is going out of this country and untaxed. You can’t stop it. So regulate and tax it. Marijuana is the same concept… but that is another blog post.
We are still about a year away in my estimation… maybe more. A start date needs but in the books and then all the casinos need to build out the infrastructure and systems to handle processing all the winnings our readers will be raking in. I’m a big fan of this move. Well done Christie… well done.