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-- Sports Gambling |
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- Overview
See also
* Casino-Hotel Profiles * Bally's * Borgata * Caesars * Golden Nugget * Hard Rock * Harrah's * Ocean Resort * Resorts * Tropicana On May 14, 2018, the US Supreme Court issued its decision in the case of Murphy v. National Collegiate Athletic Association in which it held that a federal law enacted in 1992--the Professional and Amateur Sports Protection Act (PASPA) which essentially limited sports betting to Nevada--was unconstitutional. In a 6-3 decision, the Court's majority opinion written by Justice Samuel Alito, Jr., (a New Jersey native), found that the 1992 law violated the 10th Amendment, which defines the relationship between the federal and state governments, by ordering the states to take certain actions beyond the scope of federal authority. “Congress can regulate sports gambling directly," Justice Alito wrote, "but if it elects not to do so, each State is free to act on its own. Our job is to interpret the law Congress has enacted and decide whether it is consistent with the Constitution. PASPA is not.” The Court's decision dismissed a lawsuit brought by five sports leagues, including the National Collegiate Athletic Association, to enjoin the implementation of the New Jersey sports gambling law which the state had enacted in 2014. The case arose as a result of a series of actions by New Jersey--including a referendum, a constitutional amendment and subsequent legislation--to challenge the prohibition of sports gambling, which was viewed by the state's struggling casino and race track sectors as a key component of future growth. By January 2023, a total of 33 states offered some form of sports betting; 19 offered full mobile betting with multiple options, 4 had limited mobile betting options, and 9 had only in-person sportsbooks. One analyst estimated that annual US sports betting revenue could grow to $11.3 billion in 2025.. Shortly after the Supreme Court's action, which reversed lower federal court decisions against enforcement of the New Jersey law, New Jersey racetracks and casinos quickly began to obtain licenses to establish sports gambling operations at their facilities, as well as through online applications. During the first year of sports gambling, New Jersey recorded some $3 billion in sports bets, and in September 2021 New Jersey became the first state to record just over $1 billion in sports wagers for the month. More than 90% of the $1 billion in bets were placed online, according to the state Division of Gaming Enforcement, with nearly $93 million in wagers placed in person at New Jersey casinos and racetracks. .As of 2023, New Jersey has 25 sports gambling licensees. Despite the state's early start, new competition soon emerged from other states. In January 2022, for example, New York State commenced sports gambling, which quickly surged to overtake New Jersey in betting handle and revenue, New York ended its first year of legal sports betting by setting an all-time annual handle record of $16.2 billion, easily surpassing the previous yearly high of $10.9 billion set by New Jersey in 2021. According to the Division of Gaming Enforcement, New Jersey Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $763 million for the 2022 calendar year, reflecting a 6.5% decline when compared to $815.8 million for the prior year period. Online sports betting made up 98% of New Jersey's gaming revenue in December 2022. Total Gaming Revenue, including in-person and online betting, reported by casinos, racetracks, and their partners was $5.21 billion, reflecting a 10% increase from $4.74 billion reported in the prior year. Since sports gambling was legalized in 2018, New Jersey bettors have bet $33.7 billion on sports—a total higher than even Nevada's $28 billion in the same time span and the highest of any state in the nation, according to Legalsportsreport.com, which tracks wagering around the country. Calls to the state’s gambling helpline have nearly tripled since 2018, reaching more than 27,000 last year, according to the Council on Compulsive Gambling, which some analysts attribute at least partly to a surge in sportsbook advertising. Sports books collect money from bettors who usually place wagers on single games or on longer-shot, but there are also higher-payout parlays, such as wagering on the team which will win the championship of major professional leagues at the end of the season. Bettors also can place bets on more specific outcomes, like how many complete games a pitcher will throw or touchdowns a quarterback will complete. The books make profits by taking in more in bets than they pay out in winnings. According to a research report, the weekly fantasy sports operators FanDuel and DraftKings are the industry leaders in total US market shares. Legacy casino companies, most notably MGM’s brand, BetMGM, and Caesars Casino & Sportsbook, also have grown rapidly. In April 2021, Caesars Entertainment announced completion of its acquisition of William Hill PLC, the veteran British-based bookmaking firm, for approximately $4 billion, with its intention to sell William Hill's non-US assets. With the acquisition, Caesars announced that it would be operational in over 20 US jurisdictions. * Murphy v. National Collegiate Athletic Association, Oyez.com * NJ Sports Wagering Law, P.L. 2018, c. 33 * Global Gaming Business Magazine * New York Sets All-Time State Sports Betting Handle Record of $16.2 Billion, 1/11/2023, Covers.com * Sports Wagering Gross Revenue Information, Division of Gaming Enforcement, NJ Department of Law & Public Safety * Center for Gaming Research, University of Nevada, Las Vegas * US Sports Betting Revenue & Handle, 1/20/2023, LegalSportsReport.com * NJ Sports Wagering Law, Division of Gaming Enforcement * NJ made itself a sports betting king. Gambling addiction is soaring, 1/20/2023, APP.com (subscription) * Council on Compulsive Gambling of New Jersey 800gambler.org Governor Murphy places first legal sports bets in New Jersey on June 14, 2018 at the Monmouth Park Sports Book by placing two $20 bets, one on Germany to win the World Cup, and the other on the New Jersey Devils to win the Stanley Cup
LICENSED SPORTS GAMBLING -- Casino-Hotels
(features Sports Bar with over 40 TVs, also offers six betting stations available to Hard Rock Online Sports Betting guests)
-- Racetracks
Government
* Division of Gaming Enforcement, New Jersey Department of Law & Public Safety * Casino Control Commission, State of New Jersey * Casino Reinvestment Development Authority Media and reference * NJ Sports Betting, LegalSportsReport.com * NJGamblingWebsites.com * Legal US sports betting sites January 2023, LegalSportsReport.com * eGamingReview * Casino Association of New Jersey * CasinoConnectionAC.com * American Casino Guide, New Jersey Online Casinos
* Center for Gambling Studies, School of Social Work, Rutgers University |
Easter Sunday 1904 crowds on Atlantic City boardwalk in film by Thomas Edison
Postcard circa 1890 Image: NewJerseyAlmanac.com
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