New Jersey May Legalize Online Gambling

There are a lot of changes going on in the gambling market right now. If you watch the market, you are going to love what is happening if you enjoy wagering. There are plenty of choices for you to pick from too. One of the issues though is that gambling is not available legally online. The fact is that the US gambling public wants to wager online. This is evident because of the huge tax revenue dollars people are wagering at offshore companies. They are pushing for gambling now and that means that US legislators are trying to come up with ways to offer legal online gaming. Right now though the UIGEA is still in effect. The UIGEA of course is what stands right now and it is the prevailing law. The UIGEA of course banned online gambling by targeting financial institutions. It put the task of policing transactions related to gambling in the hands of the banking system. Bank owners never asked for the task and it created a big expense to them, as they have to scrutinize all transactions and deny gambling- related ones. Though the US legislators who allowed the UIGEA were striving to ban online gambling, it never worked. Like all other instances in US history of prohibition, people worked around the laws.  They quicly diverted their gambling to offshore companies, thus pushing billions of dollars out of the country.

Now that New Jersey is in trouble due to the struggling Atantic City market, their legislators are looking for supplemental ways of bringing in gambling. Online gaming may be the solution. The online gambling market is a $3-billion market right now and showing no signs of waning in the future. In fact, experts are noting that the market should double in value in the next three to four years. This is why New Jersey Legislators are so close to debating legalizing online gambling. Most likely they are going to be the first state in the US to legalize online gambling.