Future Of Atlantic City Gambling Industry Could Lie In Sports Bets

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The Atlantic City casino industry is on life support, and as is the case with any major industry that is struggling in the US, lawmakers are looking for ways to help out. That help in New Jersey could come in the form of sports betting.

The Senate Committee on Government, Wagering, Tourism, and Historic Preservation approved legislation that would call for a referendum on sports betting. The move paves the way for sports gambling in New Jersey to become a reality.

Many states have expanded their gambling options over the past year, and now that almost every state has casinos, the focus has shifted to sports betting and online gambling. States are now looking at those two areas to stay ahead of their neighbors.

The AC casino industry has been hurt not only by the economy in recent years, but also by increased competition. New York and Connecticut have expanded casino gambling, and Delaware may soon follow the lead of Pennsylvania and legalize table games.

That leaves New Jersey to examine sports betting and online gambling. Raymond Lesniak is the sponsor of the sports betting bill, and he estimates that over $100 million in revenue could be generated for the state.

Internet gambling may be an easier sell to lawmakers than sports betting right now. The sports betting bill would require a constitutional amendment, whereas the Internet gambling legislation could proceed without any interruptions in the process.

February 10, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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