Panel holds hearing on NJ sports betting bill

(AP) - New Jersey's casinos and horse racingindustry are endorsing a nonbinding referendum that would askvoters to support legalizing professional sports betting.Representatives told a Senate

TRENTON - (AP) - New Jersey's casinos and horse racingindustry are endorsing a nonbinding referendum that would askvoters to support legalizing professional sports betting.

Representatives told a Senate committee on Monday such gamingwould help Atlantic City compete with gaming in neighboring statesand would boost the state's economy.

Even if voters approve the question in November, the state musttry to repeal or overturn a federal law limiting legal sportsbetting to four states. Nevada, Delaware and two other states haveexemptions.

One consultant has estimated that sports betting could become a$10 billion-a-year industry in New Jersey, generating nearly $100million a year in tax revenues for the state.

Supporters say the state is missing out on tax revenue becausemany fans bet illegally with bookmakers on sports games.

advertisement | advertise on News 12

Trending Video

Forecast: Nor'easter packing fierce winds, rain 1 New Jersey Weather Forecast
Authorities say 25-year-old Nathan Price fatally shot 21-year 2 Police seek suspect in Newark murder
Jersey Shore braces for nor'easter 3 Jersey Shore braces for nor'easter
Chopper 12 over house linked to Ft. Lauderdale 4 Chopper 12 over house linked to Ft. Lauderdale suspect
5 New Jersey Sportscast, Jan. 18

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE