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Place your bets: DE takes sports wagers

11 June 2018

"As legislation evolves in the post-PASPA world, having the capability and flexibility to be able to get to market fast, with proven and compliant technology, is a key advantage for us".

A major bookmaking company has signed a contract to offer sports betting at tracks in New Jersey and NY.

This is a workaround to allow the Golden Nugget to have sports betting, even though it is owned by a pro-team owner, who would have been precluded from obtaining a license in the earlier version of the bill.

Pennsylvania also prospectively legalized sports betting previous year, but it could be months before regulations are in place that would allow sports books to open.

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.

"Sports betting, literally trackside, is a great addition to the excitement that is already being generated during our race weekends", said Dover track president and CEO Mike Tatoian. 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.

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At his Friday appearance in New Brunswick, Murphy said he has had "good conversations" with Monmouth boss Dennis Drazin, but would not say if he directly told him not to open before a bill is signed.

"The governor has always been supportive of New Jersey's right to allow sports betting and he wants to ensure that the proposed regulatory scheme is fair and reasonable".

Lesniak predicted the track will start taking bets at 5 p.m. Friday, assuming the bill is signed by then.

The leagues are seeking payments to help them police betting patterns, and want better information sharing.

At an appearance Friday, Murphy said, "We're not sitting on it", but declined to say when he might act.

The state Senate and Assembly are both scheduled to vote on it Thursday afternoon.

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New Jersey lost numerous battles along the way but it has won the war, and New Jersey sports betting has just about arrived. Murphy has been coy about when he might sign the bill, indicating he might not immediately do so. It was not clear whether he would discuss the sports betting bill there.

Wondering what the holdup is for sports betting to pass in New Jersey? A clause to allow the Golden Nugget to participate was added to the bill Thursday.

NJ casinos, such as Borgata in Atlantic City, appear prepared to follow soon thereafter.

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.

Attention now shifts to Mr. Murphy, who is expected to return to New Jersey later Thursday from an overseas trip.

New Jersey and other states are racing for a piece of the estimated $150 billion spent on illegal annual wagers in the United States, after the top court in May overturned a 1992 law that had banned sports wagering except in a few places, including Las Vegas. Now, any state is free to adopt laws legalizing it, and analysts expect most to do so.

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Place your bets: DE takes sports wagers