2020_11_betinvest.gif
2020_11_betinvest.gif
2020_11_betinvest.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2020 AffiliateCon
NEWS 8 June 2018

New Jersey's full-scale sports betting bill awaits Governor’s approval

By Harrison Sayers

The State of New Jersey’s legislatures has approved a bill that would legalise sports betting wagers to be accepted by the state’s casinos and racetracks.

Both the New Jersey Assembly and the Senate voted unanimously to approve the bill, voting 73-0 and 37-0 respectively, reflecting the opinion that full-scale sports betting is required in the state to improve tax revenue and public funds.

The bill would see New Jersey become the second state in the US to offer full-scale sports betting after Delaware following the US Supreme Court’s decision to repeal PASPA.

Atlantic City casinos and the Monmouth Park Racetrack will be excited at the prospect of finally being able to accept full-scale sports wagering at their venues, and eventually online 30 days after the other regulation are in place with a high 13% tax rate for such wagers.

The tax rates in the bill also include an 8.5% fee for casinos wagers, with an additional 1.25% add-on intended for promoting and marketing Atlantic City, or in the racetracks instance the add-on fee would be used to benefit the local communities which they are in as well as the county as a whole.

However, it’s not great news for everyone as US professional and collegiate sports leagues have been unable to influence the bill, as it does not contain measures surrounding sports integrity fees which they have been requesting. The leagues also failed to acquire measures which would have made casinos and the state regulators share real-time data with them.

The bill will now be passed to the state Governor Phil Murphy. If he gives his approval and signs the bill, operators will be able to begin to accept wagers on sports betting and end New Jersey’s long wait for full-scale sports betting.

RELATED TAGS: Online | Land-Based | Sports Betting | Legal & Regulatory | Casino
2020_9_relax.gif
GI FRIDAY: WEEKLY NEWSLETTER
THE GI HUDDLE PODCAST
NEW! #006 - LISTEN NOW
Gaming Industry Conferences (22:37)
#005 - LISTEN NOW
The role of gambling media (27:11)
#004 - LISTEN NOW
What is the role of a Gambling regulator? (29:09)
#003
The Future of Gambling Sponsorship in Sport (30:50)
MUST READ
IN-DEPTH 16 March 2020
Is there an ideal RTP rate?
READ MORE
PREMIUM CONNECTIONS
Legal and Jurisdictions
Digital Isle of Man
VIEW PROFILE
Systems and Software
BetConstruct
VIEW PROFILE
Systems and Software
Finnplay
VIEW PROFILE
Industry Awards
Global Gaming Awards
VIEW PROFILE
Systems and Software
NSoft
VIEW PROFILE
PR and Marketing
ActiveWins
VIEW PROFILE
Systems and Software
BBIN
VIEW PROFILE
Affiliate
1xPartners
VIEW PROFILE
Systems and Software
Newgioco Group
VIEW PROFILE
Systems and Software
Efbet
VIEW PROFILE
Payments
Zimpler
VIEW PROFILE