“The U.S. Supreme Court decisions opens the door for all 50 states to authorize and regulate single-game sports wagering,” an article in Press of Atlantic City reads. “Prior to Monday's ruling, only Nevada was allowed to accept bets on single games.”
Atlantic City is reportedly waiting on Trenton, N.J. to act and make the betting legal. Once that happens, casinos will be required to have a regulatory framework prior to accepting any sports wagers.
The legal age to bet in New Jersey will remain 21-years-old, but online betting will be allowed according to specific wording in the proposed legislation, which speaks of a tax rate for online wagering.
According to the article, out-of-state wagering may be possible in the future, but “remains to be unseen.”
Another article published by the Press of Atlantic City suggests the exact date when legal sports betting will be allowed in Atlantic City is unknown, but legislators are working quickly to make it happen.
“We want to move quickly to capitalize on New Jersey’s advantages on this opportunity,” State Senate President Steve Sweeney wrote in an email. “The specific schedule still has to be set and we have to coordinate with the Assembly, but I expect to have the sports-betting bill approved by the Senate at our next session on June 7 so that sports gaming can be up and running as soon as the governor signs the bill.”
Sweeney is a primary sponsor of the bill to authorize and regulate sports betting at New Jersey casinos and racetracks.
The U.S. Supreme Court declared last Monday that the federal ban on making sports’ wagers was unconstitutional.
Assembly Majority Leader Louis Greenwald, D-Burlington, Camden, told reporters Tuesday there’s no reason in delaying legislation.
“From a business perspective, we should want to get this up and running quickly,” he’s quoted as saying in the article on Tuesday evening. “We’re not reinventing the wheel here. We have strong gaming houses and institutions in New Jersey already.”
New Jersey has spent the last seven years in a court battle aimed at legalizing sports betting at its casinos and racetracks, to help boost the industries. The court battle has reportedly cost taxpayers about $9 million.
The federal ban on sports wagering has been upheld for the last 26 years, so Sweeney claims this latest decision by the U.S. Supreme Court is a victory for New Jersey and the future of Atlantic City’s casinos and racetracks.
Atlantic City has faced closures of multiple casinos over the last five years, putting the city in a financial hole that nearly spiraled into bankruptcy. But things are looking up, with two new casinos on the horizon where sports wagering will certainly be viable. Sports betting is also expected to revitalize New Jersey’s racetracks, which have been struggling for the last few years.
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