The U.S. Supreme Court will hear legal arguments next month in New Jersey's quest for legalized sports betting.
Advocates are optimistic the state will win its case.
Lobbyist Bill Pascrell the Third believes the state's chances of success are better than ever.
Congressman Frank Pallone is also confident, but as a backup he's working on a measure that would allow all states to legalize sports betting and online gaming.
"It's already happening now. It's like a half-a-trillion-dollar industry illegally under the auspices of organized crime right now. Why should we let organized crime do this and make money when we could create we estimate something like 150,000 jobs around the country."
Dennis Drazin is CEO of the company that operates Monmouth Park horse racing track. He says it could start taking wagers on sporting events within weeks of a favorable ruling from the Supreme Court.
"Sports betting is survival for us here at Monmouth Park. We believe that New Jersey's market is about $10 billion a year. Factors can change depending upon how the court rules, but we believe Monmouth Park's share of that market is about 10 percent of the entire state."
Professional sports leagues oppose allowing New Jersey to offer betting on their games.