New Jersey, Governor Corzine and Sports Betting a Hot Topic
One of the hottest discussions from this past week (and surely heading into this week) is the decision by New Jersey's Governor Jon Corzine to jump on the bandwagon to legalize sports betting in that state.
Gambling911.com was well aware that Corzine sat on the fence the past few weeks regarding this issue but understood he was close to joining forces on this issue. Ultimately a decision by Delaware's Governor to legalize sports betting there pushed New Jersey's Governor over the edge.
Corzine, a Democrat seeking a second term as governor of New Jersey, called Delaware's sports betting plans "a serious threat to both the casino and horse racing industries" in his state.
"If one state is allowed is allowed to legalize betting on sports events, all states should be allowed the same opportunity," Corzine said in a statement, adding he will join a lawsuit state Senator Raymond Lesniak filed to overturn the federal law.
Corzine said the lawsuit, filed in March and also supported by two horse racing groups and the Interactive Media Entertainment and Gaming Association, argues that the federal law "unconstitutionally regulates commerce and discriminates against states where sports betting is forbidden."
If the ban can be overturned, Lesniak has said he would like to authorize it at casinos, racetracks and off-track betting establishments, in addition allowing people to place bets online and by phone.
The national recession has hit Atlantic City especially hard with The Borgata reporting nearly a 17 percent drop in revenue, followed by Harrahs Operating Company Inc with an almost 16 percent fall. The Trump casinos (of which there are three in Atlantic City) have filed for bankruptcy protection.
Lesniak said: "Sports betting in the United States is unregulated, untaxed and illegal." The Democratic senator added the federal ban simply shifts the business overseas, sometimes to organized crime.
Jagajeet Chiba, Gambling911.com
