According to a Marketwire report, Christie didn't completely dismiss the thought of online gambling when he vetoed a bill pushing to legalize the online activity. This small window of opportunity could help online gaming sites such as Zynga (NASDAQ: ZYNGA) , who practically taught everyone on Facebook how to play cards through Zynga Poker.
Even though New Jersey would only become the third state in the U.S. to legalize online gambling if all went as planned, reports also suggest the benefits could be worth billions of dollars.
There are several reasons as to why Internet gambling could be the next big thing. According to Tech Addiction, the top five reasons are as follows:
- Gamblers can play in the comfort of their own homes - no need to go to a casino.
- New players can learn how to play with step-by-step tutorials without feeling embarrassed that they do not know the rules (as compared to traditional casinos).
- Online gambling websites offer exciting, modern interfaces that may be especially appealing to younger players and / or those who enjoy video games.
- New players can initially bet with "play money" which eases the transition to making wagers with real money.
- Online gambling (especially online poker) tournaments have produced champions who go on to televised poker tournaments - thus becoming idols for those who wish to do the same.
Meanwhile, Zynga's stock has been on a rise, currently trading at above $3.67. February has proven to be a good month for the company. At the end of January, the stock was trading at $2.66, and has been on the go ever since. Zynga stock hasn't seen high trading like this since September 2012, when it it was priced at $3.24 a share.