According to a report, New Jersey Senator Jim Whelan is in support of the implementation of exchange wagering and expanded internet wagering in the state

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An article on gamblingcompliance.com cites Whelan as saying that he is anxious to get legislation which would legalize exchange wagering in the state moving forward.

Whelan was cited as making the comments after the second session of the State of New Jersey's Summit on Gaming last Friday. The report states that an exchange betting bill passed the New Jersey Assembly by a 78-0 vote in late June.

When asked whether the decisions regarding exchange wagering in the State of California have prodded New Jersey into action on the subject, Whelan was quoted as saying, “I’m as motivated as I can be (to pass exchange wagering). I don’t need California to motivate me.”

The article also cites Whelan as saying that exchange betting is only one part of a solution which should include internet gambling and online sports wagering to help resuscitate New Jersey’s gambling industry.

The report concluded with quotes from Christiansen Capital Advisers of New York City head honcho Eugene Christiansen, who was quite frank when he stated that there will be pain associated with whichever plan the State of New Jersey wishes to head forward with.

“There is going to be a lot of pain in this situation,” Christiansen was quoted as saying. “If you do nothing, there will be pain. There will be pain in Atlantic City. There will be pain the racing industry.

“If you do something, there will still be pain,” Christiansen said. “This is a difficult set of problems. It does not admit of simple solutions.”

(With files from gamblingcompliance.com)

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