Put those New Jersey jokes on hold, folks. According to a press release, New Jersey’s General Assembly today voted in favor of legalizing sports betting. The 58-17 vote (with one abstention), if passed as law, will make betting on professional sports legal in the state of New Jersey. That would include the popular gambling meca of Atlantic City for those of you who aren’t too sure of your American geography.

So why the sudden change? Would last weekend’s Super Bowl have anything to do with the passing of this bill? (Vegas Super Bowl wagers totalled over $100 million and another $10 billion was wagered on worldwide.)

“There are multiple dividends for New Jersey if sports gambling were to be provided at Atlantic City’s casinos,” said Legislation Assebmlyman Nelso Albano (D-Cumberland/Atlantic/Cape May). “Atlantic City’s casinos again lost out as bettors flocked to Las Vegas. We need to ensure Atlantic City stays on the cutting edge and has a competitive advantage against the new wave of gambling offerings in other states.”

Revenues in the Atlantic City casinos dropped nearly 6 percent in 2007 to $4.92 billion, the first year revenues decreased since casinos were established in the resort city in 1978. (The Daily Journal)

You can bet that many, many sportsbooks and blogs will be following this story closely…