Jon Corzine Still Has Support From Betting Market

One incumbent who appears to be in trouble is New Jersey Governor Jon Corzine, a Democrat. Seeking re-election in November, Corzine has fallen behind Republican challenger Chris Christie.

The Intrade.com market currently gives the Republican candidate a 55.0% chance of becoming Governor of the Garden State, while Corzine has a 45.0% probability of being re-elected.

New Jersey last elected a Republican Governor back in 1997. Right now the market points to 2009 being the end of this particular drought for the GOP.

This could hurt New Jersey's attempts to legalize sports betting and potentially bring the activity online.  Corzine recently offered his support following a lawsuit filed by The Interactive Media Entertainment & Gaming Association on behalf of the state to legalize sports betting.  Corzine believes legalized sports wagering can help pump in millions for the state economy.

"Delaware's entry into sports wagering and table games is a serious threat to the both the casino and horse racing industries in New Jersey," Governor Corzine said. "We must do everything in our power to stay competitive. We simply cannot afford to sit back and let neighboring states press an unfair advantage against us anytime, and certainly not in the midst of this global economic crisis."

But Corzine may be out of the picture before Election Day if the US Justice Department has its way.

Lawyers for the US Department of Justice are asking a US District Court to block New Jersey Gov. Jon S. Corzine (D) from joining a legal challenge to a Federal law preventing his state from offering legal sports wagering, as other states like Nevada and Delaware do.

"The constitutional claims that the Governor seeks to advance do not belong to him; they belong, instead, to the State of New Jersey," read the brief submitted by the DOJ, in opposition to Gov. Corzine's own motion to intervene in the suit, brought by the Interactive Media Entertainment & Gaming Association (iMEGA), NJ State Sen. Raymond Lesniak (D-Union), and the state's horse racing associations.

iMEGA, et al v. Holder, filed in US District Court in New Jersey in March of this year, seeks to overturn the Professional Amateur Sports Protection Act of 1991 (PASPA). That Federal law barred all but four states - Nevada, Delaware, Montana and Oregon - from offering state licensed and regulated sports wagering.

Jagajeet Chiba, Gambling911.com