Sports Betting Taking Shape in New Jersey

NJ

NJLegislation is moving forward to put the final touches on sports betting in New Jersey.

After New Jersey won their Supreme Court case involving sports betting, legislators were ready to get to work preparing the state to offer the new gaming option. This week a brand new bill popped up and has already moved forward within a committee to see sports betting take shape in the state.

A 4111

The Assembly Tourism, Gaming and Arts committee met today to discuss a bill known as A 4111. According to PlayNJ, the bill replaces A 3911 and will help provide the framework for the sports betting industry in the state. The committee approved the bill and more activity is expected to take place later on today.

The state is in a hurry to pass legislation after SCOTUS ruled against the PASPA allowing every state to offer sports betting if the activity is passed into law. Activity has been taking place across the United States involving sports betting, with states such as Delaware ready to launch gaming this week. To stay competitive, New Jersey will need to get in on the action quickly.

This afternoon, the Senate Budget and Appropriations Committee will be considering their own bill involving sports betting, S 2602. While this bill is being considered, the Assembly bill will be moving on to the full floor where a vote should take place later on this week. The Senate is expected to move their bill forward as well. The goal is to send a final bill to Governor Phil Murphy by the week’s end.

Sports Betting for NJ

The state is abuzz as sports betting will be on offer soon. Sportsbooks are ready to spring into action, including Monmouth Park, which will be ready to take wagers as soon as legislation is in place. Within the new Assembly bill, the industry would be taxed at 8% for sports books that are land-based and a 13% rate for online operators.

While sports betting is coming, there are still things to consider. For one, the state has yet to reveal if they will be charging integrity. Professional sports leagues like the NBA and Major League Baseball all want to see integrity fees paid. Representatives from these groups, including the PGA Tour, were on hand in front of the Assembly committee to seek provisions to be added to legislation to see such a fee paid.

Funnily enough, the NBA and MLB were part of the lawsuit against the state involving sports betting. So, after fighting against the activity, they now want to be paid by the state as they offer sports betting services. Legislators were not open to the idea and it will not be surprising to see New Jersey not including such a fee within their final legislation.

During the meeting, Assembly member Ralph Caputo, asked the leagues before they testified if they were there to ask for an integrity fee and if they were, then they were in the wrong place.  The MLB and NBA also asked legislators to add provisions that would see the Division of Gaming Enforcement work with them on matters of integrity and that the leagues be allowed to create the terms for the data that is used during sports betting.

As the Assembly committee was not considering any amendments to the legislation, the proposed changes by the leagues were not added to the bill.