New Jersey Governor Chris Christie (pictured) has conditionally vetoed a bill that would legalize and regulate intrastate online gambling within his state’s borders. Despite the word “veto,” however, this could be good for poker players, as it paves the road for his eventual signature.

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A “conditional veto” is not an out-and-out rejection of the bill. A better term might actually be “conditional approval,” as it indicates the Governor accepts the vast majority of the bill, but wants to see some of it amended. The New Jersey Legislature then has the opportunity to make the appropriate edits and send it back to the Governor’s desk for signature.

Christie’s objections were outlined in 31-page veto statement. The most significant change he wants to see is online gaming revenues taxed at 15% rather than the 10% the bill suggests currently. For comparison, brick-and-mortar casinos are taxed at 8% of gross revenues.

He also wants this to be a trial period of sorts for intrastate online gambling, requesting the law to “sunset” after 10 years. That does not mean that internet gaming would just go away after a decade, though. Instead, this initial run would give “future leaders the perspective and opportunity to revise and renew internet gaming as appropriate.”

Christie also wants to see more money earmarked for problem gambling services.

“With these goals in mind, I have concluded that now is the time for our State to move forward, again leading the way for the nation, by becoming one of the first States to permit internet gaming,” Christie wrote in the statement.

Immediate reaction in the poker community is that none of Christie’s conditions should be significant hurdles for the state legislature to overcome. John Brennan, a journalist for NorthJersey.com, Tweeted, “NJ state Sen Lesniak predicts revised online gaming bill will pass in Trenton in ‘a matter of weeks’ after Gov conditional veto.”

State Senator Raymond Lesniak (pictured), co-sponsor of A2578, told The Press of Atlantic City, “It’s a big day in Atlantic City.”

Rich TheEngineer Muny, Vice President of the Poker Players Alliance, posted on Two Plus Two, “[The Governor’s conditional veto] looks very good for us.”

“An Act Authorizing Internet Gaming at Atlantic City Casinos under Certain Circumstances,” which was passed by both the General Assembly (A2578) and Senate (S1565) in December, allows not just poker, but also casino gambling, to be offered over the internet. All equipment must be located within a secure area of an Atlantic City casino and all wagers placed online would be considered to be placed in Atlantic City.

All players must be at least 21 years old and located within state borders. The law allows for the possibility of people from out of state playing on New Jersey gambling sites, but only if their participation does not violate Federal or state law.

In addition to taxes, internet gaming operators will have to pay at least $200,000 for their initial license and no less than $150,000 for each annual renewal. They will also have to pay $150,000 each year to the State General Fund.

As for when online gambling would officially become a reality in New Jersey, there is no set date, but it should be this year. The legislation states that games could not be offered sooner than 90 days from the date the bill is signed into law, but also no later than six months. Thus, if it passes through the legislature in “a matter of weeks” and is signed by Governor Christie shortly thereafter (of course, we don’t know if it would actually be a quick turnaround), we could be looking at anywhere from four to possibly eight months before the virtual cards are in the air in New Jersey.

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