New Jersey Sports Betting Laws

sports betting

Some sports leagues want to monetize sports betting by making legal sportsbooks pay for league data. They argue this is necessary to maintain integrity of the games. However, only two states – Illinois and Tennessee – have passed laws requiring legal sportsbooks to collect data. The NHL and NFL have also suggested this legislation.

Legalization of sports betting in New Jersey

New Jersey is among the first states to legalize sports betting. The state’s Division of Gaming Enforcement (DGE) has been working with sports wagering operators to make sure the industry remains fair and transparent. The DGE is coordinating with the NJRC to ensure sports wagering operators are fully compliant with state gambling laws.

Despite widespread opposition from major sports leagues and the NCAA, New Jersey has fought to legalize sports betting. The NBA has publicly come out in favor of legal sports betting in the state. Other major sports leagues are likely to be supportive of the legalization of sports betting.

Legalization of sports betting in other states

Sports betting is gaining ground in other states, including New Hampshire, which has legalized sports betting since 2019. It became the second New England state to legalize gambling in the new year. In 2021, residents of the Granite State placed $239 million in bets, an increase of 87% year-over-year.

The US Supreme Court struck down a federal law banning sports betting outside of Nevada, and more than 30 states have approved sports betting. BestOdds, a sports research firm, says there are signs that sports betting is on the way in other states.

Markets for sports betting in New Jersey

Most online New Jersey sportsbooks accept both credit and debit cards. However, some financial institutions may flag the use of debit cards as an inappropriate payment method. The main difference between credit and debit cards is that credit cards transfer funds instantly, while debit cards must be paid later. Additionally, credit cards can sometimes charge fees for cash advances.

New Jersey sports betting markets have flourished since the legalization of sports gambling in 2018. With an increased number of retail sports betting websites and sports betting apps, New Jersey has quickly become a betting mecca in the U.S. Sports betting handle in the state continues to increase and many companies are bringing improved online sports betting apps to the state.

Promotion of camaraderie among bettors

The increasing popularity of sports betting has resulted in an increased risk of problem gambling among the population. Problem gamblers report higher media exposure and are more likely to agree that they have gained social norms related to sports betting. This phenomenon may be exacerbated by the influence of significant others in a person’s life. To counter this trend, policy interventions might be necessary.

In order to measure the impact of sports betting on camaraderie, researchers created a scale to measure it. Those with higher scores on this scale had a more positive attitude toward sports betting than those with lower scores. Moreover, all significant results from the overall subjective norms scale were also found for the friends and family subscales. However, since the two scales were highly correlated with one another, the researchers chose to report the overall scale instead.