Here’s what you need to know about online sports betting in New Jersey. Just a month later, New Jersey became one of the first states to make sports betting legal. Signed off in 2018, the Supreme Court declared the Professional and Amateur Sports Protection Act (PASPA) of 1992 was unlawful. However, it took another 18 years before sports betting was allowed for online players across all sports. Gamblers were able to place a bet on horse racing using online portals as early as 2000. “Importantly, mobile sports betting allows regulated sportsbooks to better compete and push out the predatory and pervasive illegal market,” AGA senior vice president Casey Clark said in a statement.New Jersey was one of the first states in the US to take online gambling to its heart.

According to the AGA’s annual national survey of bettors in the United States, almost 7 million Americans will place a bet with a bookie, up 13% from 2020 while nearly 11 million gamblers will bet at a physical sportsbook, which is up 58% from 2020. But as New York goes legal, $1 billion in revenue will be taken from the illegal sportsbooks. PointsBet USA CEO Johnny Aitken said in a statement that getting a license to take mobile sports wagers in New York is a milestone for the company because it will be doing business in “one of the largest and most important markets in the United States.”ĭespite 32 states now having legal sports betting markets, illicit sports betting is still alive and well. He sees having a footprint in the state as “vital to ensuring nationwide leadership in sports betting and iGaming over time,” Greenblatt said in a statement. (The operators are required to pay a $5 million annual fee to the casino that houses its servers.)Īdam Greenblatt, BetMGM’s CEO, says they are happy to have been awarded a mobile sports betting license. The servers need to be in one of the state’s four commercial casinos by law. The next step in the regulatory process is for the winners to find a facility to house the servers and the New York State Gaming Commission will need to approve those locations.

There is no formal timeline for the program to launch, but in May state lawmakers hoped to award licenses by January 1 and expect that gamblers will be able to place bets by the 2022 Super Bowl. “We believe New York represents one of the most attractive sports betting states given its population, wealth/income, and sports culture,” a note published by Macquarie reads.

New jersey sportsbook license