Nevada has become the first state in the nation to approve on-line gambling. Bills rarely move this fast through the Nevada legislature, but this one is worth billions of dollars in potential revenue.

by Ky Plaskon

The Assembly and Senate each unanimously approved the online gambling bill also known as 'interactive gaming.' And just two and a half hours later, Governor Brian Sandoval signed it into law. 

It takes effect immediately and gives Nevada a jump on New Jersey which is expected to be the next state to get into online gaming. It also allows other states to partner with Nevada, but the rules for compacts have yet to be worked out.

The fee for a license to operate online gambling in Nevada is now a half million dollars.