BUSINESS

Gov. Christie approves exchange wagering

TAGs: exchange wagering bill, Governor Chris Christie

gov-christie-approves-exchange-wageringEver since the bill for online gambling went to New Jersey Governor Chris Christie’s office late last year speculation has been mounting as to whether the bill will go through and open up intra-state in the home of MTV reality show Jersey Shore.

One of those at the forefront of the fight for regulated betting, iMEGA chairman Jim Brennan Jr, was in London just this past week but back home it seems like Christie was using that time to make his decision over the future of exchange betting in the state.

According to eGR, Christie yesterday signed Senate bills S-2229 and A-2926 to legalize exchange wagering and single-pool wagering in the state.

Christie said in a statement: “These measures represent the next steps in following through on my administration’s commitment to securing a strong, independent, self-sufficient horse-racing industry in New Jersey. We are providing new tools to help the industry implement new strategies, generate additional revenue and capitalize on interest in horse racing around the state.”

The bill entitled A-2926 would allow the New Jersey Sports and Exposition Authority to sign a contract with a betting exchange provider in order to provide this type of betting in the state. The news will alert Betfair who will be champing at the bit to sign a deal before anyone else gets in, and are well placed after already getting one signed in California late last year.

As far as Senator Ray Lesniak’s bill goes, there’s still some time left for Gov Christie to decide on it; 20 days to be exact, and when it happens you can be sure that we’ll have the news right here on the tablog.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com