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New Jersey Online Sports Betting

gambling-addiction

the staff of the Ridgewood blog

Atlantic City NJ, Many sportsbooks have already been opened for New Jersey residents in the first few months of legal sports betting since June 2018 and more are scheduled in the near future. Hundreds of millions of dollars have already been won, and critically, the state of New Jersey has also collected plenty of revenue to assist in providing better services to the state’s residents.

NJ online Sports Betting Regulations allow for licensed state casinos and horse racing tracks to support land-based, mobile, and online sports wagering and prohibits casinos/racetracks that own a sports team from participation in sports betting. Limitations also exist for potential operators who may have a vested interest in a sports franchise.

The New Jersey sports betting law allows for online and mobile betting anywhere within the state’s borders is protected by geolocation software.

New Jersey’s legal sports betting market is structured in such a way that it allows a number of online brands to compete in the Garden State. Key licenses to operate online sports betting are restricted to the state’s land-based casinos and racetracks. Each key license holder is permitted to establish to three unique sports betting brands online and may partner with external brands.

This effectively means that the maximum number of online sportsbooks possible in New Jersey is a ceiling of 42. New Jersey may not see all 42 spots claimed, however, with new sportsbooks opening regularly (at least 10 more on the cards before the start of 2019-20 NFL season), it may get close.

New Jersey gambling laws serve as a model for many US states. New Jersey has embraced gambling like few other states in the Union. Even before the United States existed, the colony of New Jersey used a lottery to fund the French and Indian War. New Jersey’s contribution to the American Revolution was partially funded by a lottery. Monmouth Park, the Oceanport racetrack at the center of the US Supreme Court decision to repeal the Professional and Amateur Sports Protection Act (PASPA), opened in 1870.

While New Jersey’s legislature banned lotteries in 1844 and all gambling in 1894, gaming never really went away. Churches and other non-profit organizations funded projects through bookmaking, numbers games, and even slot machine betting. In 1939, the state legalized pari-mutuel wagering again. That was followed by the legalization of bingo gaming for non-profit organizations in 1953.

By the time New Jersey legalized a state lottery in 1969 and casino gambling for Atlantic City in 1976, the state was one of the leaders in the American gambling industry. In 1989, Atlantic City was the only place east of Las Vegas which had casino gambling. Much has changed in the 30 years since, but it was New Jersey which led the fight to strike down a federal ban on sports betting. After a 6-year fight, the US Supreme Court struck down PAPSA in the landmark Murphy v. NCAA decision. New Jersey opened the door for sports betting throughout America.

Every licensed casino and racetrack in the Garden State can offer sports betting, provided they are approved to do so. Most importantly for regular casino goers in New Jersey that includes Atlantic City casinos (a total of 6 of the 9 New Jersey Casinos operate land-based sports books), as well as three of the state’s racetracks – Monmouth Park, The Meadowlands, and Freehold Raceway.

The New Jersey sports betting law allows for online and mobile betting anywhere within the state’s borders is protected by geolocation software.

New Jersey’s legal sports betting market is structured in such a way that it allows a number of online brands to compete in the Garden State. Key licenses to operate online sports betting are restricted to the state’s land-based casinos and racetracks. Each key license holder is permitted to establish to three unique sports betting brands online and may partner with external brands.

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