Time to double down on gambling domains? NJ passes legislation to license, regulate online gambling

Online Poker

It might be time to start looking over those gambling domains in your portfolio. 

Today, New Jersey approved online gambling legislation in what PokerNews calls, “…an historic day for online poker”.

New Jersey became the first state to pass legislation to license and regulate online poker Monday as the State Assembly voted 63-11 to approve a bill that would permit Internet wagering for New Jersey residents through hubs based at Atlantic City casinos. The State Senate had passed the bill 29-5 in November.

The legislation now will go to the desk of Gov. Chris Christie. He has 45 days to sign it into law, conditionally veto it (returning it to the legislature for changes) or veto it absolutely. If no action is taken during the 45 days, the bill automatically becomes law. Gov. Christie hasn’t taken a public stance on this bill but he has made it a priority to improve the revenue stream for Atlantic City, so it is not believed he would veto it.

If 2010 was any indication of the demand for gambling domains with Slots.com selling for $5.5 million, 2011 might be even better.

Gambling.com is up for sale, and positive news like this can only help its chances of selling for a record-breaking price of $20 million or more.

And it’s not just online Poker that was approved, as PokerNews points out, “The bill allows not only for poker to be offered online but also casino games and other forms of gambling.”

It looks as if one of Calvin Ayre’s 2011 predictions has already happened, but what it means for instituting online gambling at the federal level, won’t be known anytime soon.

Over at Calvin Ayre, a large “Victory” image is gracing the home page of the website.  Peter Amsel writes, “How ironic is it that New Jersey, the butt of so many jokes as a backwater bastion of big hair and unrefined tastes, especially when compared to their supposedly cutting edge neighbors in New York City, would prove to be the trendsetters here?”.  In the comments section, Calvin Ayre left a note saying, “…so far my predictions from last year and this are all unfolding as outlined”

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