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This week the justices of U.S. Supreme Court declined to hear the appeal from the state of New Jersey on a case that would make New Jersey the second U.S. state to allow legal sports betting inside its land based casino and horse tracks.

(Win McNamee/Getty Images)

If there is one thing that legal online gambling in New Jersey has shown us thus far, it is that residents in the Garden State have an appetite for gambling. Per the New Jersey Division of Gaming Enforcement's May press release, the newly-launched online gambling industry alone has generated over $53 million dollars. In addition to online gambling revenue, the land-based Atlantic City casinos have generated over $1 billion dollars in revenue.

But with all the casino and poker gaming taking place, one form of gambling is missing in New Jersey, sports betting. This should come as no surprise however, as Nevada is currently the only state in the country that allows legal and regulated sports betting. Although, if Senator Raymond Lesniak and Governor Chris Christie have their way, this may soon change with New Jersey becoming the second U.S. state to allow sports betting at regulated land based casinos and tracks.

The history of sports betting in New Jersey

In November of 2011 a voter referendum was approved by a 2-1 margin that would allow sports betting in New Jersey. Shortly thereafter, in January of 2012, Governor Chris Christie signed the legislation that would allow the state's casinos and racetracks the ability to offer wagering on professional and college sports.

Since then, however, proponents of legal sports betting in New Jersey have been fighting an uphill battle. The NCAA, NBA, NFL, and NHL came together to file a federal lawsuit against the state of New Jersey, citing the Professional and Amateur Sports Protection Act of 1992.

The athletic leagues won this case in February 2013, and the dream of New Jersey offering legal sports betting was put on hold.

After losing the initial case, as well as an appeal in the 3rd circuit court of appeals, Governor Christie and Senator Lesniak brought the issue to the United States Supreme Court. Unfortunately, this week the justices declined to hear the case, allowing the lower court ruling to stand.

Although Governor Christie seems to have given up the fight and moved on, Senator Lesniak has vowed to continue his efforts. Lesniak has already introduced a bill that would essentially repeal old state laws, and allow private companies to have sports wagering operations without state regulation.

The senator seems quite confident he can get this passed. Lesniak was recently quoted saying:



"I expect that the U.S. Justice Department will refrain from intervening, as they have with Colorado and Washington when those states legalized marijuana," he said. "I plan on placing my first bet at Monmouth Racetrack on Sept. 8 for the Giants to beat the spread against the Lions on 'Monday Night Football."

3 reasons why legal sports betting in New Jersey makes sense

New Jersey voted for it - The simple - and most obvious - reason New Jersey should allow legalized sports betting is because of the voter referendum that "we the people" passed in 2011. New Jersey residents voted by a decisive measure that they want to bring sports betting into the Garden State.

Associations such as the NFL and NCAA should not be allowed to trump individuals' freedoms in a blatant effort to protect their special interests and profits.

It's already taking place - Sports betting, and a great deal of it, is already taking place in New Jersey. Unfortunately, all these wagers are being placed on offshore websites, or through unscrupulous bookies, resulting in zero revenue for the state's coffers.

In the digital age, almost every sports enthusiast can tell you their favorite team's odds to win, or what the spreads and lines are for almost every major sporting event. With sports betting already prevalent in New Jersey, the tax revenue is there for the taking.

Atlantic City needs more revenue sources - Although online gambling has helped bolster the overall revenue numbers coming out of Atlantic City, the boardwalk casinos are in dire need of additional revenue sources.

New Jersey Senate President Stephen Sweeney said it best this week when he stated, "the economic impact that sports wagering can have on New Jersey is far too important to simply shrug our shoulders and move on. New Jersey has been held hostage by this unfair law and the national sports associations long enough."

What’s next for the sports betting movement in NJ?

Although the battle may have been lost, the war is not over. I fully expect New Jersey’s legislators to respect the people's decision, and work diligently to get a bill passed that would allow sports betting.

Not only is it important for the people's decision to be honored, it may be equally important for the sheer survival of Atlantic City as we know it. With the broad support coming from New Jersey legislators for legalized sports betting, I’ll put the odds at 3-1 that we’ll see our first sports bet in the Garden State within the next 12 months.