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In 2013 , New Jersey became the first state in the nation to legalize online gaming .
conglomerate of 37 offshore companies was intent on legalizing sports betting , exchange wagering for horses and online gaming across the country and they wanted New Jersey to be the test state .
Republican Chris Christie was running for governor at the time and he campaigned on a promise to legalize sports betting . But Pascrell was backing Democrat Jon Corzine in the race . He told iMega that their conversation would have to wait until after the election .
Then Christie won . Within weeks of the election , Pascrell was in Las Vegas strategizing on how New Jersey could become a player . The battle was fought on many fronts — in the courts , in the statehouse and Washington , D . C .
In Trenton the legislature took action to put a gaming question on the ballot . It asked for voters ’ approval to amend the New Jersey constitution to allow sports betting . Laws were later drafted to allow online gambling . Pascrell even worked with President Obama ’ s Justice Department to release a letter clearing the way . The letter reinterpreted the Wire Act .
New Jersey became known as the first state in the nation to legalize online gaming , launching it in 2013 . At the same time , the state was facing the wrath of the NFL , which brought suit against Gov . Christie to stop sports betting . The battle culminated with a landmark U . S . Supreme Court decision overturning the Professional and Amateur Sports Protection Act of 1992 , known as PASPA , and eliminating Nevada ’ s monopoly on sports betting .
Pascrell downplays his role in New Jersey ’ s success , saying he simply worked “ getting the Republicans and the Democrats to talk to each other ” and the real heroes were Governors Christie , Phil Murphy , state Senate President
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Stephen Sweeney , Lt . Gov . Sheila Oliver , who was speaker of the Assembly at the time , and former Sen . Raymond Lesniak , who sponsored much of the legislation .
All their efforts paid off when New Jersey launched online gaming eight years ago and was permitted to offer sports betting in 2018 . “ We created thousands of jobs and saved the casino industry , which would have been dead on the vine without it ,” Pascrell said .
Pascrell is proud of his role in helping the nascent industry in New Jersey . His expertise has been recognized around the world . He now serves on the Board of Directors of Betegy , a company based in Warsaw , Poland , that provides online sports predictions , vibrant content and data analysis for the gaming industry . He also serves on the Board of Advisors of Gamban , a London-based data company that protects players and prevents gambling addiction . Pascrell is president of North America for A Game Above — a Copenhagen , Denmark company that enhances the customer experience in the gaming industry .
The integrity of the industry looms largely for Pascrell and is reflected in his role as chairman of the board of Yield Sec , a Malta-based company providing the world ’ s first effective tool to monitor , police and enforce the licensed marketplace for betting and gaming . He is also a founding member of the board of Entain ’ s U . S . Foundation , which was created to impact compliance , integrity and responsible gaming in America .
Pascrell ’ s newest endeavor is “ fixed-odds ” betting in horse racing . His client , BetMakers , an Australian publicly traded , horse industry wagering company , is working with Monmouth Park to bring the concept here . It eliminates the changing odds in a race . It ’ s popular in Australia where the annual handle totals $ 25 billion , compared to $ 12 billion in the United States . Pascrell predicts “ the power of fixed odds will save American horse racing .”
Pascrell is working to bring fixed-odds betting to Monmouth Park .