Gov. Christie okays sports betting

Published: 8:52 AM EST Jan 18, 2012

Governor Chris Christie also took out his pen Tuesday and signed a new bill that would legalize sports betting, but there's a major hurdle to clear before the first bet can be placed.

The new bill would legalize betting on professional and collegiate sporting games at the Atlantic City casinos and the state's four horse tracks.

Voters signaled by a 2-to-1 margin in a nonbinding November referendum they want sports betting to be legal.
Next is a court battle against a federal law banning sports betting in all but four states. Proponents say New Jersey's law would reclaim millions of dollars from illegal bookies, and give Atlantic City another attraction to bring visitors to the casinos.