When Will New Jersey Legalize Sports Betting?

In early 2020, New Jersey voters will decide on whether or not to legalize sports betting. If passed, the bill will allow professional and collegiate sportsbooks to set up shop in the Garden State and offer Nevada-style sports betting. The vote is officially known as “Question 7.”

The measure was introduced in February 2020 and will be on the ballot alongside other state races such as governor, attorney general and the House of Representatives. It requires 60% of the vote to pass. Currently, only Pennsylvania and Delaware allow for legal sports betting in the U.S.

Why Is Sports Betting Legal In Some States But Not Others?

Pennsylvania and Delaware both passed their sports betting laws in the early 2000s. One of the main reasons why these states decided to legalize sports betting was to boost their economies. The legislation in both states provided for generous tax subsidies, in addition to licensing and regulating the activity.

However, not all states were willing to follow suit. Michigan, for example, decided against legalizing sports betting in the state because of concerns over public safety. The state also doesn’t want to give rival bookmakers a run for their money. Similar to Michigan, New York also rejected a proposal to legalize sports betting in the state, arguing that it would be difficult to police game-fixing incidents. Most recently, West Virginia also rejected a sports betting expansion bill. The state’s Democratic governor, Jim Justice, cited the potential for abuse in his veto message.

How Will New Jersey Legalizing Sports Betting Impact The Industry?

The passage of Question 7 would mark the first major step toward establishing a legal sports betting market in New Jersey. Currently, all bets placed on sporting events are considered illegal under federal law. However, if passed, the bill will establish regulated sportsbooks that could offer patrons a safe and secure way to bet on their favorite teams and athletes.

The proposal would also give professional sports teams and leagues the option of authorizing individual bookmakers to set up shop in their states and advertise their services. Furthermore, the legislation would allow college sportsbooks to operate on campus, providing students with an additional location to wager on games.

The decision by New Jersey to legalize sports betting will undoubtedly impact the industry. Like any other emerging market, the industry will have to adapt to new regulations and consumer demands. The state’s decision to legalize sports betting also presents an opportunity for legal U.S. and offshore bookmakers to set up shop in the state and offer a wider variety of bets and promotions.

When Will New Jersey Legalize Sports Betting?

New Jersey will hold its primaries on April 28th, with the general election following on June 2nd. However, it is unclear whether or not the measure will pass in its current form. If it does, it will be one of the first major legislative victories for the sports betting industry. The bill needs to win by a wide margin to ensure that it actually takes effect. It is currently ahead 52.6%-47.4% in the polls.

Voters in New Jersey will also decide on whether or not to allow casino gambling in the state. If the legal sports betting proposal does not pass, there is no reason to believe that casino gambling will be approved either. The odds of approval for casino gambling are currently listed at less than 10%, according to most survey outlets.