Sports betting: A pool of revenue for Arizona

Doug Mendoza
June 11, 2018

"You're providing less of an incentive to customers to enter or migrate over from a black market to legal and regulated channels", said Daniel L. Wallach, a lawyer from Florida who has followed New Jersey's sports betting efforts.

The market for legal sports gambling in the United States widened significantly on Tuesday with expanded betting in DE, putting legal wagering within driving distance of three major East Coast cities less than a month after the U.S. Supreme Court cleared the way for states to accept the bets. He added, "I want to place the first sports bet in New Jersey if I can, but we want to make sure we do it right". A report this week by Eilers & Krejcik Gaming predicted that only six states will not have approved sports betting by 2023.

No major professional leagues have confirmed their participation in the trade show's sports betting symposium.

Murphy was due to appear in New Brunswick at 11 a.m. Friday at an event about apprenticeships.

The company plans to use the proceeds to strengthen its software engineering resources in order to better serve existing customers in the country.

New Jersey is set to become the second state to legalize sports wagers outside Nevada following DE, where wagering began Tuesday.

A New Jersey lawmaker says a Jersey shore racetrack is technically free to start taking bets immediately, even before a bill legalizing sports betting is signed by Gov. Phil Murphy. "During the Super Bowl or the NACC Tournament, in Las Vegas you can't get a hotel room and Atlantic City is a ghost town".

Three casinos in DE started accepting sports wagers this week. The Borgata in Atlantic City also has said it will begin taking wagers as soon as the regulations are put in place.

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Though the picture remained somewhat unclear Friday, potential and bettors and bookmakers took heart as lawmakers approved legislation to implement New Jersey's long-await sports-betting program.

Fertitta owns the NBA's Houston Rockets, and would have been shut out of sports betting under previous versions of the bill.

The Supreme Court last month struck down a federal law that barred gambling on football, basketball, baseball and other sports in most states. The 1.25 percent add-on fee for tracks would be split among the host community and the county in which the track operates. The bill previously shut the Golden Nugget out of sports betting, but a change allowed it to offer bets on sports other than basketball.

The state can also impose a 13 percent tax on internet sports bets, which could begin 30 days after the law goes into effect.

Adding to the confusion was an action the legislators took before approving the bill: They stripped out a provision that would have prohibited any casino or track from beginning to offer sports betting before the bill was signed.

The commission's letter was sent to Dennis Drazin, Monmouth Park's operator, and the general managers of Freehold Raceway and New Meadowlands Racetrack in East Rutherford. The track has loudly wanted to begin taking bets Friday.

The bills moved out of committee in both chambers on Monday.

Other reports by GizPress

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