Tuesday, 23 April, 2019

New Jersey Gov. Phil Murphy: No timetable to act on sports betting

EditorialeSportsGaming      Could eSports Benefit From Legalized Sports Betting?
        By Jose EditorialeSportsGaming Could eSports Benefit From Legalized Sports Betting? By Jose"AWPerative Alvarez
Cary Erickson | 11 June, 2018, 16:29

Yesterday, the NJ senate approved a regulation to allow casino and online sports gambling.

In New Jersey, which successfully challenged the federal ban, lawmakers hope to have a bill signed by the end of this week that resolves competing proposals to allow sports betting at casinos and horse racing tracks. This includes passing the necessary legislation that licenses those venues and companies that will be authorized to take the bets, the regulations that will govern them, the amount of taxes that will be paid to states, and possible fees to sports leagues.

However, GAN has moved to allay concerns over the matter, saying that it has investigated the issue with its clients and does not now expect any impact on its plans to launch sports betting.

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

The first full day after New Jersey legislators approved a bill to legalize sports betting began with no one actually offering it yet.

Republican state Sen. Declan O'Scanlan says language was dropped from the bill that prohibited any sports betting facility from opening until the bill is signed.

Technically, casinos and tracks are free to take bets now.

A sample of eSports betting odds
Game On! Legislature Approves Sports Betting in New Jersey

Drazin said only Murphy signing the measure Friday or him telling the track it's OK to proceed would change that.

This small but important step on the pathway of regulatory reform in the USA sports betting and igaming market, shows the preparedness of GVC to take an active part in the development of the sector. But his office said it plans to conduct a "thorough review" of the legislation. Some lawmakers have estimated that wagering could yield as much as $100 million during the first year, but the state treasurer, Elizabeth Muoio, has put it much lower, at $13 million. This Thursday has been chosen as the day on which the Senate and the Assembly hold their voting for the needed framework of the new sector. "Longstanding practice in Nevada where sports betting has been legal for decades only prohibits Golden Nugget from accepting wagers on the Houston Rockets".

New Jersey lost numerous battles along the way but it has won the war, and New Jersey sports betting has just about arrived.

The governor posted on Twitter that he plans on signing these bills into law Wednesday. Right after the decision, former New Jersey Gov. Chris Christie summed up this logic when he stated, "New Jersey citizens wanted sports gambling and the federal government had no right to tell them no". It was not clear whether he would discuss the sports betting bill there. The bill would allow Atlantic City casinos and racetracks, including Monmouth, the Meadowlands and Freehold Raceway, to offer sports betting.

A clause to allow Golden Nugget Atlantic City to participate was added to the bill Thursday.

The National Collegiate Athletic Association, National Basketball Association, National Football League and Major League Baseball, collectively the NCAA, sued the governor of New Jersey at the time, Christopher Christie.

Most states are eager to legalize sports betting because it would generate revenue through taxing the industry. He previously voiced support for sports betting before the details of an actual bill were written.

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