NJ Online Sports Betting Could Launch as Early as Next Month

NJ Online Sports Betting Could Launch as Early as Next Month

NJ could become the latest US state to legalize and regulate online sports betting, as early as next month.

There is strong bipartisan support for the measure, with Governor Phil Murphy (D) keen to see it pass. The bill has already been passed by the Senate and is currently awaiting a vote in the Assembly.

Industry experts believe that New Jersey could generate up to $500 million in annual gaming revenue from online sports betting, if it is legalized. This would make it one of the most lucrative states in terms of gambling revenue.

The American Gaming Association (AGA) believes that legalizing and regulating online sports betting would create 30,000 jobs nationwide, as well as generate billions of dollars in economic activity.

New Jersey’s move to legalize online sports betting comes amid a broader trend of states moving to liberalize their gambling laws. In May this year, the US Supreme Court struck down a federal ban on sports betting, paving the way for individual states to legalize and regulate the activity.

Since then, a number of states have moved to do so, including New Jersey, Delaware, West Virginia, Mississippi and Pennsylvania. There are now 13 states that have legalized some form of sports betting.

NJ Could be the Next State to Offer Legal Online Sports Betting

On Monday, November 26th, 2018, the New Jersey Senate passed a bill that would legalize sports betting in the state. The vote was 26-15, and the bill now heads to the Assembly for a vote. Once it is passed there, it will head to Governor Phil Murphy’s desk for his signature.

This is big news for New Jersey, as it would make them the second state in the country (after Delaware) to offer legal online sports betting. The bill would allow Atlantic City casinos and racetracks to offer sports betting, as well as online and mobile betting.

Governor Murphy has said that he supports the bill and believes that it will bring in much-needed revenue for the state. It is estimated that legal sports betting could generate up to $500 million in annual revenue for New Jersey.

Opponents of the bill say that it could lead to gambling addiction and other problems, but supporters believe that it will be regulated tightly enough to avoid these issues.

NJ is already one of the most popular states in the country for gambling, so it makes sense that they would be one of the first to legalize online sports betting. If this bill is passed by the Assembly and signed by Governor Murphy, then NJ residents will be able to bet on football, basketball, baseball, and all other major sports online.

When Will NJ Have Online Sports Betting?

The Garden State legalized land-based sports betting in June of 2018, but there is still no word on when NJ will have online sports betting.

Since the state has already completed the process of legalizing and regulating sports betting, it is assumed that online betting will be up and running in no time. There are a few kinks that still need to be worked out, such as who will be able to offer online bets (the casinos or a new entity?) and how tax revenue will be dispersed. But all in all, things are moving along smoothly and it’s only a matter of time until NJ residents can place wagers from the comfort of their own homes.

It was announced in late October that DraftKings would be partnering with Resorts Casino Hotel in Atlantic City to offer online sports betting. This is big news for both companies, as DraftKings is one of the biggest players in the daily fantasy sports market and Resorts Casino Hotel is one of the largest casinos in Atlantic City. It’s not clear yet when online betting will go live, but it’s expected to happen in early 2019.

There are also rumours that MGM may enter into a partnership with Caesars Entertainment to offer online betting within New Jersey. This would give MGM a foothold in both the land-based and online gambling markets. At this point, nothing has been confirmed, but stay tuned for updates!

In the meantime, you can read up on all the latest NJ sports betting news at PlayNJ.com.

NJ Poised to Launch Legal Online Sports Betting in Near Future

Since the US Supreme Court overturned a federal ban on sports betting last month, several states have been moving quickly to legalize the activity.

New Jersey is among the states most poised to launch a legal online sports betting operation in the near future, as state lawmakers approved a bill on Monday that would regulate and tax the industry.

Republican Governor Phil Murphy is expected to sign the bill into law, and state officials say they could have a regulated sports betting market up and running within two months.

“This is about ensuring New Jerseyans are able to make well-informed decisions about what games they want to wager on and geographic restrictions will be in place to ensure bets are placed locally,” said Democratic Assemblyman John Burzichelli, one of the primary sponsors of the bill.

Under the proposed legislation, casinos and racetracks would be allowed to offer sports betting, but online betting would be limited to those 21 years or older. Sports bets would only be allowed on games involving New Jersey teams or collegiate teams playing in New Jersey.

The new law would also levy a 10 percent tax on gambling revenues from sports betting, which is expected to bring in $13 million in its first year.

Many other states are also moving quickly to legalize sports betting following last month’s Supreme Court ruling. Delaware became the first state to allow full-scale sports betting last week, while Rhode Island and West Virginia are among the states that have passed bills this month legalizing some form of sports betting.

New Jersey Could be One Step Closer to Offering Legal, Online Sports Betting

In May of this year, the United States Supreme Court repealed a federal law that had outlawed sports betting in all but four states. This move has paved the way for other states to legalize and regulate sports betting within their borders.

Last week, the New Jersey state legislature approved a bill that would legalize and regulate sports betting within the state. The bill now awaits the signature of Governor Phil Murphy, who has previously expressed his support for legalized sports betting. If signed into law, New Jersey would become the fifth state to offer legal, online sports betting.

There are some restrictions on what types of bets could be placed under the proposed bill. For example, bets on college games would not be allowed, and bets on high school games would only be allowed if they involve New Jersey teams.

The bill also includes provisions to help protect consumers and ensure that gaming is fair and honest. These provisions include requirements that casinos post signage stating that gambling is not permitted by persons under 21 years of age, and that gaming employees complete training on responsible gaming behaviors.

Governor Murphy is expected to sign the bill into law in the near future. Once it goes into effect, New Jersey residents will be able to place legal wagers on sporting events through websites and mobile apps operated by casinos in the state.