New Jersey on track for online gambling start

The Division reports that casinos submitted additional information it requested by last Friday's deadline so that regulators can evaluate their applications to begin online betting. Nine of the city's 12 casinos have acknowledged lining up partners for internet gambling, and a tenth is widely rumored to have selected a partner as well.

Online gambling is designed to give the struggling casinos new revenue, though there are worries some of the in-person business will simply migrate to computers, leading to casino job losses.

The biggest winners in the expansion of online gambling in New Jersey may be the struggling Atlantic City casinos. The AC casinos have not rebounded from the 2008 economic recession, and are looking forward to taking their brands online.

"If New Jersey can meet that November 26th deadline, it would provide a huge boost for Atlantic City casinos," said analyst Neal Sommerson. "Heading into a holiday weekend with a new product to offer the millions of residents that will be home on vacation, should provide casinos with a decent opportunity to put up strong revenue numbers out of the gate."

New jersey is one of three states that have created online gambling regulation laws over the past two years. Nevada has already launched their first online casino in BETA mode, with a hard opening of other casinos expected to come in the next few weeks. Delaware has also regulated the industry.

Lawmakers in New Jersey and Nevada have left the door open for pooling their players should federal laws change. Currently, there are no federal online gambling regulations. Legislators have been pushing for law changes at the federal level before too many states authorize the activity on their own, leaving the federal government without a piece of the gambling revenue generated in these states.