New Jersey Sports Betting Regulations

1. New Jersey Sports Betting Odds
2. New Jersey Sports Gambling Rules
3. New Jersey Sports Betting Regulations Odds
4. New Jersey Sports Betting Sites

• New Jersey Sports Betting Revenue NJ sports betting kicked off on June 14, 2018 with two retail sportsbooks in the state. That number quickly exploded and the market now boasts 19 sportsbook apps and 11 retail books at Atlantic City casinos and North Jersey racinos.
• Sports betting in New Jersey is regulated by the state’s Division of Gaming Enforcement (DGE). With that, New Jersey has regulations that may differ from other states. For instance, the state prohibits wagering on collegiate sporting events that take place in New Jersey or involve a New Jersey college or university team.

New Jersey was the first state in the USA to legalize online sports betting. This change in legislation brought with it a surge in sports bets like the country had never seen before – check out how New Jersey has changed due to relaxed betting laws right here.

The No. 1 contender to New Jersey’s online sports betting dominance finally appears ready to enter the game.

After dismissing the idea for the better part of two years, New York Gov. Andrew Cuomo announced his support of online sports gambling last week. It was one of several policies included in the governor’s annual budget presentation as a way to make up state revenue shortfalls from the coronavirus pandemic.

“New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis,” Cuomo said in a statement to the Daily News.

The governor does not have to look very far for a successful online sports gambling market to convince lawmakers in Albany that taxing legal wagers would help replenish state coffers.

New Jersey will exceed $5 billion in total online sports wagers for 2020, generating more than $40 million in taxes for the state in the calendar year.

December numbers will be released on Jan. 13.

Will New York overtake the online sports betting leader?

Most industry analysts believe that the Empire State’s online sports betting market will surpass New Jersey’s.

“Gov. Cuomo’s embrace of mobile sports betting immediately positions New York to soon lead all other states and generate significant revenue for state coffers,” Sara Slane, an industry consultant and former official with the American Gaming Association, told the Associated Press. “New York, with a population of nearly 20 million, dwarfs any other state with legal betting and should have no problem regularly topping $1 billion a month in wagers.”

The Garden State was an early adopter of online sports betting and quickly became a standard-bearer.

Jane Bokunewicz, coordinator of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University, said, “it was inevitable that other states would follow, especially after seeing New Jersey’s success.” New Jersey was aware that competition would eventually arrive.

“As the market for sports betting continues to develop and expand both within New Jersey and in neighboring states, New Jersey could lose ground in terms of market share, but it will be far from out of the race,” she said. “Sports betting will continue to contribute significant tax revenue to the state even if not at the same levels we’ve been seeing given both New Jersey’s near-monopoly on East Coast online sports wagering and the pandemic.”

Business has been good for NJ

New Jersey lawmakers included online tax rates when they legalized and regulated sports betting in the spring of 2018. The first online operator, DraftKings Sportsbook, started taking wagers that August and eight others followed suit by the end of the year.

New Jersey collected just under $7 million from a 13% tax applied to online sports betting revenue in 2018. Almost 63% of the total sports wagering handle that year was from online action.

In 2019, 84% of the nearly $4.6 billion statewide handle were bets placed via NJ sports betting apps. New Jersey collected more than $31.8 million in taxes from online sports betting revenue.

With Atlantic City casinos and New Jersey’s racetracks closed for part of 2020, taxes from iGaming and online sports betting helped to offset losses. New Jersey collected $39.2 million (through November) from online sports betting. Nearly 92% of the state’s $5 billion sports handle was from online wagers.

Ironing out NY sports betting details

Even as impressive as New Jersey’s tax collections from online sports betting are, Cuomo sees larger numbers for his state. Rather than allow casino operators to conduct online sports betting, Cuomo wants a monopoly operator to run the show and share revenue with the state.

New Jersey Sports Betting Odds

“And I’m not here to make casinos a lot of money. I’m here to raise funds for the state. So we have a different model for sports betting,” he said.

New York state lawmakers, however, do not agree with the governor’s approach. A bill introduced Thursday would allow four commercial casinos and three tribal operators to license two skins each. The bill proposes a tax rate of 12% for online sports betting revenue.

A financial summary of the bill estimates $79 million annually for the state. Cuomo’s budget director suggested that a single-operator system could generate $500 million per year.

Tax collections could drop

Should New York launch an online sports betting market, the state of New Jersey would see tax collections drop.

A sizable percentage of the online sports betting market includes New York residents who are currently crossing state borders to bet in New Jersey. A representative for FanDuel Sportsbook (New Jersey’s most profitable sports betting operator) estimated that 25% of online customers hail from New York. The state’s second-largest operator, DraftKings Sportsbook, did not provide a figure, but it would be reasonable to assume the percentage is comparable.

“The pent-up demand for legal sports betting in New York, and throughout the east coast, has led many New Yorkers to cross state lines for the purpose of wagering with New Jersey sportsbooks. The (FanDuel) sportsbook at the Meadowlands (Racetrack) has perhaps benefitted most from this phenomenon,” Bokunewicz said, before noting that one retail location grosses more than the eight Atlantic City casino sportsbooks combined. “This is an indication of the strength of the New York market.”

Because states such as New Jersey and Pennsylvania have already set up successful regulatory models, New York’s rollout of an online market should happen fairly quickly, she said. But, even with an aggressive launch by New York, the impact to New Jersey may not be immediate.

“Consumers have developed a relationship with New Jersey sportsbooks and may need at least a little persuasion to change over to New York-based books,” Bokunewicz said. “This transition period may be shortened of course by those operators, such as market leaders DraftKings and FanDuel, which will likely operate in both states. These operators could make the transition between states virtually seamless for their established customer base.”

New Jersey saw sports wagering get legalized in the state back in 2018. Over the years, the betting entities have grown in number, leaving players spoiled for choice when it comes to online gambling platforms to choose from. New Jersey was among the states that spearheaded the debate on lifting one of the bans that prohibited sports wagering outside the state of Nevada.

Ever since NJ Sports-betting legalization, this Garden State has transformed into a wagering powerhouse. Today’s read will focus on all matters sports-wagering in New Jersey, providing you with interesting insights that you will absolutely love. Read on!

Tax Rates on Sport Betting NJ

The NJ sports-betting law requires that there is an 8.5% tax charged on revenue generated from sports-betting in the state. A 13% tax is charged on the revenue from land-based casinos and a 14.25% tax charge on revenue from racetrack related sporting venues. While the tax charged on casinos that are land-based in New Jersey are higher than that charged in Nevada, it remains lower than that of states like Pennsylvania, giving NJ quite an edge above the rest.

What are some of the benefits of Lawful Online Sports-Betting in NJ?

While there are several benefits associated with wagering at NJ online sports books that are legal, it all starts with your security and safety as a player. The NJDGE (New Jersey Division of Gaming Enforcement) sees to it that all authorized sportsbooks in New Jersey are not only licensed, but also regulated.

The application process is highly rigorous just to ensure compliance with the existing gambling laws. If any sports book is in violation of the NJDGE stipulated guidelines, then they are liable to paying hefty fines.

Rest assured that the NJDGE exists to safeguard you as a gambler. Even if odds will vary from one sports book to another, this body closely monitors them all, ensuring that you bet in an environment that is not only legal, but also secure and utterly safe. If you go ahead and gamble in an illegal offshore site, you will have yourself to blame as these are not regulated by the NJDGE. As such, it is paramount that you maintain your game play within the state’s borders, where you can count on the protection of the regulators.

NJDGE regulated sports books are highly convenient, allowing you to place your wager from anywhere, provided you are within the state’s borders. It does not matter if you are a NJ resident or not; geo-location technology makes it possible for you to place your bets from any place within the state’s lines. Additionally, NJDGE regulated sports books are available for download both on IOS and Android operated mobile devices, seeing to it that players enjoy gaming on the go.

New Jersey Sports Betting Apps

The state of NJ is dotted with racetracks and casinos from where players can enjoy land-based gaming. In addition to this, players can enjoy gaming online at the comfort of their homes. Below are just but a few of the best New Jersey Sports-Betting Apps:

DraftKings

This was the first online based sports betting site to ever launch in New Jersey after legalization of online sports betting in the state. Its bonus offers, design and speed are just some of the things that make it a favorite for most. Additionally, it boasts an array of betting options, allowing for players to enjoy diverse betting from beginning to end.

William Hill

This sports book is probably best known for its land based sports-wagering establishments globally. However, over the years, it has continued soaring in the online wagering business, living up to its reputation. If you are planning to wager on New Jersey Devils’ events, then it would please you to know that William Hill Sports Book has partnered up with them.

BetMGM

If you are in search of a mobile Application that is not only easy to navigate, but also user friendly, you have to try out BetMGM.one thing that you will appreciate even more with this sports book is its swift cash outs, which allows for bettors to settle their bets even before a game comes to an end. It also features overtime insurance and an array of odd boosts.

FanDuel

If you have ever heard of this one, you know that it is not a basic application. As a matter of fact, it tends to top the list when it comes to players’ favorite sports betting Apps in NJ. To enjoy game play on it, you could just visit the FanDuel website or download the App from either your IOS or Android mobile device. This Application comes packed with numerous wagering options, impressive graphics, tons of incentives as well as an easy-to-use approach.

888Sports

Probably known for its top-notch graphics, 888Sports is a reputable operator that guarantees players safety and security. It can be accessed through Android and IOS operated mobile devices. It features impressive in-play betting options and lots of other popular bets.

PointsBet

You will love this one for the mere fact that its betting choices are out of this world. It brings New Jersey bettors both local and international sporting events to wager on. In addition to this, it features a unique ‘Points Bet’ option which awards players bigger returns whenever they make accurate predictions.

Considerations to make before choosing a NJ Online Sports Betting Site

Bonus offers & Incentives

In New Jersey, it is common practice for online sports books to offer promotions, bonuses and other incentives to bettors. This is because the gambling industry is highly competitive, and each of the operators want you to come on board. As such, be sure to take advantage of all these promotions by choosing a provider that is generous in nature, especially at the sign-up stage. Examples of bonuses include free bets, deposit match ups and welcome bonuses.

Safety

For the best experience, be sure to choose an operator that is regulated and licensed by the NJDGE, which is the Division that runs all matters related to online wagering in the state. The beauty of working with a reputable and legit provider is that your safety and peace of mind are both guaranteed.

Design and Ease of Use

Sport bettors in NJ are spoiled for choice when it comes to online wagering operators to choose from. However, none of these providers are the same; each has its own theme, graphics, design and layout. As such, be sure to look out for the site that best impresses you even in terms of navigation and user-friendliness.

Payment flexibility

All authorized New Jersey-based sportsbooks want you to have a seamless withdrawal and deposit experience. Be sure to work with an operator that is not limited in scope when it comes to matters funds. The more the options you have at your disposal, the easier better it is for you.

Wagering Options & Odds

Depending on the betting choices available, odds usually fluctuate from one site to another. In addition to this, the wagering range differs with some providers having more inclusive options as compared to others. Be sure to do your due diligence and choose a site with a more robust selection.

Types of Incentives, Promotions & Bonuses Offered at New Jersey Sports-Betting Sites

There are several NJ online sports-gambling Apps out there, which means that competition for market is equally stiff. As such, sports books have come up with creative promotions meant to lure bettors into signing up with them, and hopefully remaining loyal. Below is a list of some of the most common incentives:

First-time deposit offer

Upon registering for an account and making your initial deposit, the sports book operator matches this amount either partially or in full. In most cases, this bonus should be utilized within a specific timeframe. Sometimes, online gambling operators in New Jersey are so generous that they give reload bonuses to existing customers!

Risk-free bet

Just for encouragement, your operator of choice will ‘refund’ your funds if you lose on your first bet upon signing up by way of matching the wager you made in your account.

Free bet

This is a random cash bonus! Here, you are either required to make a bet within a specific timeframe or wager with a certain minimum amount to trigger the bonus.

Odds boost

This incentive is done only by a few operators, and it is given on very specific games. For instance, if the NJ Devils appear on an operator’s list at +150 odds in a match against NY Islanders for instance, the sports book may choose to boost the odds to +200 for all the Devil supporters.

Parlay insurance

This incentive is relatively new in the market, and New Jersey Online Sports-Betting entities are embracing it quite well. Here, if you had bet on a parlay, and all your predictions come true except for one, the operator will refund your wager. Most of the time, the parlay should contain a minimum of 4 selections, and the teams in question should be huge favorites.

Loyalty programs

For your loyalty, you will be given a kind of reward by your operator of choice. as a rule of thumb, the more you bet, the higher the reward you scoop. You can get this bonus in the form of points or even cash.

NJ Sports-Betting Choices

Money Lines

Sports books usually set points to a given game. A money line bet involves a player placing his wager based on the points or odds that are set by the operator. For instance, if team A (-150) happens to be playing with team B (+130), then the bettors should wager $100 in order to win $130 if team B wins or $150 to win $100 if team A wins.

Parlay

A parlay bet requires the player to place multiple bets instead of just one. In order to win real cash on such a bet, all your predictions need to be true. It might be risky, but the beauty is that upon winning, the payoffs are quite lucrative. Additionally, the initial bet amount is quite friendly given the high odds.

Spread

Here, the bettor bets on his or her favorite based on pre-set points. If they win by surpassing those points, then the bettor wins some profitable rewards.

Futures

As the name suggests, this is a futuristic kind of bet where a bettor wagers on a player or team, where the results are expected at a later date. A great example here is betting on your favorite team to win in the Super Bowl even before the season has started.

Teasers

With a teaser bet option, you can adjust a game’s point spread. The catch here is that the operator gives you less odds. To keep things interesting, this wager comes in Parlay format. What this means is that a 4-point teaser would require a bettor to make the same adjustment they make on one bet to all the other three bets.

Over/Under

This refers to a bet in which the bettor predicts that the game’s overall score will either be over or under the cumulative points of both teams scores or goals.

Round Robin

If you are more risk averse, then this right here is the gamble you need to consider. Unlike the parlay, a round robin does not require for all your choices to win. Here, the player creates three different parlays, each containing two teams. This is a less risky gamble, and its payouts are considerably less than those of a conventional parlay.

In-game

In play betting has been the new kid on the block for quite some time now. In this type of bet, a player has the luxury of placing their wager even after the game has started. This betting option is highly engaging and exciting as things happen right in the moment!

Major Sport Leagues That I Can Wager on in NJ

Sports Books in New Jersey offer bettors the unique privilege to place their wagers on as many international leagues as their minds allow them to imagine. For football, the major leagues are NCAA, NFL and CFL; for baseball, the MLB takes over; for basketball, the WNBA, NBA, EuroLeague, and NCAA feature; for hockey, NHL; for Soccer, EPL, MLS and English Champions League; for golf, LPGA Tour and PGA tour; for tennis WTA and ATP; for Auto Racing, Formula 1 and NASCAR, and for Martial Arts, UFC. In addition to this, NJ was the first state in the US to allow for wagers on Academy Awards to happen.

What sports can one not wager on in New Jersey?

You are not allowed to bet on any NJ College sports-team or on any College sports-related event that happens in NJ. This means that you cannot bet on Rutgers Basketball, Rutgers football, Seton Hall, Monmouth and Fairleigh Dickinson. In addition to this, players cannot place their wagers on NJ’ High School events that are sports related. Another restriction in NJ Sports-Betting is that interested parties such as coaches, players and referees should not place bets on their own teams.

FAQ

New Jersey Sports Gambling Rules

To wager, all bettors are required to be at least 21 years old

Feel free to visit any land-based casino in the state, or even sign up at an online gambling establishment in the city.

Be sure to look out for the New Jersey Devils (NHL), the New York Jets and New York Giants (NFL)

All casino operators in addition to their 2 defunct racetracks and 3 active ones can apply for online gambling licensing in New Jersey. All online sports books need to be linked to a physical location.

New Jersey Sports Betting Regulations Odds

As at March 2020, NJ has a total of fourteen mobile/online licensed sports books.

The New Jersey Division of Gaming Enforcement (NJDGE) is charged with the responsibility of controlling and regulating the sports-betting as well as casino-gaming enterprise.

New Jersey Sports Betting Sites

As a bettor, you need to be on the lookout for your safety and security above everything else. While winning huge rewards is also important, it should not be at the compromise of your security. NJDGE is in existence for the sole purpose of looking out for your interests as a gambler.
They closely monitor sports books to make sure that they operate while following the stipulated gambling guidelines and regulations. They are in charge of issuing licenses to operators as well. Playing at a site that is licensed by this institution ensures that you are protected and that your payouts get to you as they should.