The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
The meteoric rise of sports betting in New Jersey since its legalization has caught the eye of many. As a pioneer, the Garden State has laid down the blueprint for other states to follow. Let’s take a deep dive into the metrics, legislative decisions, and the overall influence of New Jersey’s bold move.
Continue reading A Look at New Jersey Online Sports Betting Revenue
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.