Today, Governor Phil Murphy signed a law making it legal to bet on sports in the state of New Jersey. NJ is the second state to legalize sports betting since the Supreme Court ruled that states could legalize sports betting. Of course, the headlines, New Jersey Legalizes Sports Betting was not unexpected considering its close association with gambling.
Delaware took the honor as being the first state to legalize sports betting since the Supreme Court Ruling. However, New Jersey racetracks and casinos believe they will start taking sorts bets by the end of the week.
Furthermore, Monmouth Park racetrack plans on becoming the first location to accept sports betting. This is because they will start taking professional and college sports bets on Thursday at 10:30 AM. Of course, not all casinos and racetracks will be able to take sports bets by the end of the week.
A Big Day for the Garden State
“Today, we’re finally making the dream of legalized sports betting a reality for New Jersey.” said Governor Murphy. In a statement he also said that “This is the right move for our state and will strengthen our economy.”
Bill S2602/A411 allows people over 21 to bet on sports on the internet or in licensed locations in New Jersey. However, online sports betting will not be allowed for another 30 days. The Bill had actually passed last week but did not become law until it was signed today by Governor Murphy.
On an interesting note, New Jersey does not allowed betting on college events taking place in New Jersey. Furthermore, betting on a college team located in New Jersey is also not allowed.
Sports Betting Software companies all agree that NJ is the reason the Supreme Court Decided to overturn the federal ban. In fact, NJ has been trying to legalize sports betting for seven years. In addition, their effort cost of $9 million in taxpayer money.
On a side note, the Golden Nugget in New Jersey may not be able to offer sports betting. This is because the owner, Tilman Fertitta also owns the Houston Rockets. Thus, anyone who owns 10% or more of a sports team is not allowed to operate a sportsbook in NJ.