Legislation sponsored by Senate President Steve Sweeney, Senator Jeff Van Drew and Senator Vin Gopal that would authorize and regulate sports gaming in New Jersey gained the approval of the Senate today.
The bill, S-2602A-4111, would put in place the regulatory framework to allow casinos and racetracks to take bets on professional sports competitions and college events that don’t take place in the state or include a New Jersey team. Licensed “sports pool” operators would also be allowed to accept wagers online.
The Senate vote was 37-0. Also approved by the Assembly 73-0, the bill now goes to the Governor.
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The legislation would authorize the Division of Gaming Enforcement and the Racing Commission to expedite the licensing process so that New Jersey can act quickly to capitalize on the state’s leadership position and competitive advantages. The bill grants regulators emergency rule-making authority that allows them to issue temporary licenses as soon as the bill becomes law. The legislation sets a 30-day delay for online bets in order to set regulations.
New Jersey has a 40-year history of experience with casinos and gaming officials have been working in preparation for the favorable Court decision.
“New Jersey has led the way on sports betting and we will now capitalize on our decisive Supreme Court victory by putting in place a vibrant sports gaming industry,” said Senator Sweeney. “We can now seize the opportunity with a new sector of gaming that will help create jobs, generate economic growth and be an important boost to the casino industry and horse racing.”
The Supreme Court’s landmark decision striking down the Professional and Amateur Sports Protection Act was the culmination of a seven-year legal fight by New Jersey to allow wagering on sporting events. poker indonesia The state twice enacted sports gaming laws and gained voter approval through a public referendum but had to fight the deep-pocketed opposition of the major sports organizations.
“Sports betting is a major step forward for horseracing in New Jersey, providing a significant financial boost to an industry that is so important to the state,” said Senator Gopal. “The thoroughbred industry, horse farms and horseracing have long been an important part of the state’s economy, quality of life and our identity. We want to see it thrive with the infusion of economic activity that sports gaming will bring.”
Under the bill, casinos would receive their licenses from the DGE while racetracks and former racetracks would receive their initial licenses from the Racing Commission, but subsequent license renewals would be managed by the DGE, which would be the sole agency to regulate the sports pool operators.