SportsProf

(Hopefully) good sports essays and observations for good sports by a guy who tries (and can sometimes fail) to be a good sport.

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Monday, May 19, 2008

Should There Be Legalized Sports Betting in New Jersey

State Senator Ray Lesniak, political patron to one-time Governor Jim McGreevey, thinks so.

He wants the state to challenge a Federal law that limits sports betting to four states, most prominent among them Nevada. So far, Governor Jon Corzine's office has declined comment.

Corzine made a mint helping run Goldman Sachs, the investment bank that specialized in, of course, legal investments and speculation. So, it would stand to reason that the governor would support this challenge, given that New Jersey has huge unfunded pension obligations, an aging population and is almost out of moves when it comes to find ways to raise revenue.

Watch this one -- the stakes are high, and New Jersey smells the money.

The odds are that they'll take action.

So that, at the end of the day, their casinos can take the action.

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