Hard-working Americans may no longer need to buy a plane ticket to sin city to lose their kids’ college savings: Online gambling is now legal in Nevada, and may soon be available nationwide. Nevada unanimously passed an emergency measure to legalize gambling in the state and open up opportunities to enter legal compacts with states for their own residents.
“Today I sign into law the framework that will usher in the next frontier of gaming in Nevada,” said Governor Sandoval after he signed bill AB114.
Nationwide online gambling was previously banned by the Federal Wire Act until a court of appeals declared that the restriction only applies to sports betting. So, aside from excluding the handful of citizens that would have gone big on Seabiscuit, the new law permits Nevada to develop partnerships with other cash-strapped states looking to cash in on online gaming.
The law was rushed through under emergency procedures to beat New Jersey to the punch, which has also been eyeing a similar law. “As to our competitor, New Jersey, they should be accustomed to following Nevada,” joked Sandoval.
Get ready for a heated national debate over online gambling and a chaotic gold rush of business looking to exploit what is sure to be a very lucrative new market.