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It might not seem like big news at first glance, but the fact that Las Vegas might actually be moving behind New Jersey in gambling relevance in the world is a news story of epic proportions that will be germane for decades to come. And it’s not simply because of the land-based casino hotels and resorts people frequent, but this story also involves the Internet and its powerful ability to change the winds.

Ever since the Bush administration hit the road and the new Obama administration has been looking for a swarm of tax revenue, Congress have been working hard to tweak gambling legislation. The goal, obviously, is to create a new stream of tax income via online gamblers and their propensity for playing. And it has lead to the Intra-State Internet Gambling Bill, which the Senate will vote on shortly.

If passed, this brings about a complete changing of the guard. New Jersey was one of the original 11 states banned from Internet gambling – so was Nevada. The new ISIG bill will allow casino operators to set up online versions of their live games.

All Atlantic City casinos will have no download casino versions for iPhones and Blackberry devices, and legitimate websites set up for another stream of revenue and another avenue residents of New Jersey can use to gamble.

Sure, it’s only a bill allowing AC to operate online, so how does it affect Las Vegas?

Vegas won’t experience any negative decline at first, but perception will be reality. People have all but stopped going to AC and have opted for Vegas because Sin City is “in.” It’s a perception that Vegas is the cooler place, offering more to visitors. Now it’s Atlantic City in line to have this title, as the tolerant and expanding gambling city of the new millennium.

There’s also an immediate increase in New Jersey in terms of production. There are an estimated 50,000 jobs created in the first year, and an added $7 billion of revenue to a state that desperately needs it. NJ will be considered the hub of America’s gambling industry, both offline and on, and will reap the kinds of rewards Vegas has for decades.

This bill may also be the first in a line of tolerant state bills that allow for, at the very least, more online gambling activity. So things are starting to change for gambling lovers out there, and it’s starting with New Jersey.