With summer fast approaching, thoughts turn to spending more time outside with friends and family. Few activities bring people together quite like playing sports, especially when the games are important. Whether you’re a diehard fan or just enjoy the competition, nothing connects people like rooting for their favorite baseball, football, or basketball team.
If you’re looking to take advantage of sports betting in New Jersey, then read on! Most states in the United States allow for legal sports wagering, but New Jersey is one of the few that actually requires you to be physically present to place bets. However, the odds of getting arrested for sports wagering in New Jersey are pretty low – if you keep all of the state’s strict rules in mind.
Find A Place To Bet
The first step to enjoying sports betting in New Jersey is finding a place to do it. There are a variety of legal betting spots throughout the state, from parlors located in high-traffic areas to remote rural counties where betting is not yet legal. You can research and choose a location that best suits your needs.
Since 2014, New Jersey has allowed for online wagering through the licensing of companies like DraftKings and FanDuel. If you are a serious sports fan, you can take advantage of these services and place bets on games that are happening outside of New Jersey (and throughout the US, for that matter). If not, you can still enjoy the thrill of watching games live without risking too much money.
Know The Risks
Like most other states, legal sports wagering in New Jersey is not without its risks. Just because the state allows it does not mean that all the dangers associated with illegal gambling have disappeared. There are still legal concerns such as underage gambling and problem gambling. These are just some of the more common dangers that you need to be aware of before participating in sports wagering.
Underage gambling is fairly common. While New Jersey does not allow teenagers to gamble, parents frequently help their children sneak into online sports betting sites to bet on games that they love. Problem gambling is also a common occurrence among those who regularly place large sums of money on sporting events. This type of gambling can lead to serious financial problems. If you are worried about a family member or a friend becoming a problem gambler, then you should not let them participate in sports wagering, as it is definitely a form of gambling that can become habit-forming.
Stay Within The Law
Most states in the US have gaming controls and restrictions in place to protect their citizens from underage gambling and other illegal activities. New Jersey, being one of the most populated states in the country, has a particularly high number of legal concerns. One of the most restrictive laws in the state is the ban on remote gaming. This means that casinos and other types of gambling are strictly prohibited in New Jersey. If you get caught up in the thrill of gambling and decide to place a wager on an illegal site, the chances of getting caught and prosecuted are pretty high.
You also need to stay within the law when placing bets. If you are under the age of 18, then you should not participate in sports wagering. If you are over the age of 18 but under the age of 21, then you need to obtain a sports wagering license from the state. Even then, you must remain within the law when placing bets. If you get arrested for sporting wagering in New Jersey, you can expect to see some serious jail time. However, the arrest rate for those who engage in the practice is so low that you may not even have to spend a night in jail.
Learn The Lingo
While in most cases, the odds are in your favor when betting on sports, the language of sports can be tricky. For example, if you are betting on the Yankees and they lose, you will typically hear someone say that they “popped the trunk.” This means that they are not going to get all of their money back, but rather they are going to “get lucky” and win some as well. Other confusing terms that you may hear include “dog,” “heat,” and “push.” Knowing the lingo can help you determine which bets are winning and which are losing, making it easier for you to place winning bets in the future.
Another interesting peculiarity of sports wagering in New Jersey is the state’s use of taxation. Unlike most other states, New Jersey taxes the proceeds of sports wagering. This is done through a combination of taxes and fees that are tacked on at the end of each game. For example, if the total earnings from wagering on a single game is $100, then you will be taxed 10% on that amount and the site that you bet on will charge you another $10 for handling fees.
The taxes and fees that are associated with sports wagering in New Jersey are all fairly standard and do not vary that much from state to state. However, since New Jersey is the only state that taxes the outright earnings from wagering, there is an interesting jurisdictional conflict that sports fanatics should know about. If you are looking for a state that does not tax sports wagering, then you should look to Nevada, Montana, or Oregon. Otherwise, New Jersey is a great place to be a sports fan!
Ensure that you obey all of the rules and regulations in New Jersey. This is especially important if you are located in a remote area and do not want to risk getting into trouble. In these situations, it is better to be safe than sorry, especially if you are placing bets on sporting events that you cannot fully understand. If you get a chance, it is also a good idea to visit a local sports book or online sports betting site and get to know the rules and regulations first-hand before participating in the exciting world of sports wagering. Just remember: with a little bit of research, proper planning, and the ability to follow the rules, you can have fun and make money at the same time!