New Jersey One Step Closer To Sports Betting

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New Jersey itself is expected to pull in between $12 million and $17 million in the first full year of operation, according to legislative estimates. Borgata and MGM officials would not comment on the sports betting legislation as it affects the company's basketball team. Lesniak predicted the track will start taking bets at 5 p.m. Friday, assuming the bill is signed by then. But we want to make sure we do it right.

You will not be allowed to bet on high school sports, and college sports have a stipulation, CBS2's Steve Overmyer reported.

State Senate President Stephen Sweeney originally included language in the bill that would keep casinos and tracks from accepting bets until Murphy signed the measure into law, putting a regulatory structure in place.

Monmouth Park, for its part, had said that it had hoped to open sports wagering on Friday, should the governor sign the bill in the short term.

New Jersey One Step Closer To Sports Betting
New Jersey One Step Closer To Sports Betting

The delay comes amid a debate over the state's budget, in which sources told The Star-Ledger the bill could become a bargaining chip.

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

ATLANTIC CITY, N.J. (AP) — A sports betting bill that's expected to get final approval on Thursday could help keep four Atlantic City casinos in the game. Internet betting would begin 30 days after the rest of the law takes effect.

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.

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On May 15, Monmouth Park racetrack voiced its plans to begin taking wagers on sporting events starting May 28, two weeks after the Supreme Court's landmark ruling allowed states to make their own regulations on the subject. "Additionally, the bill does not require casinos or the regulator to notify sports leagues of potential match fixing or other improper conduct". A clause to allow the Golden Nugget to participate was added to the bill Thursday. One of the provisions directly impacts the Golden Nugget, which is owned by Tilman Fertitta, who also owns the Houston Rockets.

Under the change, the Golden Nugget could still take bets on sports including football, baseball and hockey, but not basketball.

Three of the professional sports leagues were not happy over the lack of "integrity fee" payments they say would help them police betting patterns and called for better information sharing.

Gov. John Carney had the honor of placing the first bet, wagering $10 on the Philadelphia Phillies to beat the Chicago Cubs on Tuesday night.

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Despite the desire of Atlantic City casinos and state racetracks to begin taking bets Friday morning, it's uncertain when the Democratic governor will let them.

The bill would allow casinos and racetracks to offer land-based wagering immediately.

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. Now, any state is free to adopt laws legalizing it, and analysts expect most to do so.

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