Published On: Tue, Jun 12th, 2018

New Jersey Officially Legalizes Sports Betting

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Phil Murphy

New Jersey Governor Phil Murphy finally signed the highly publicized ‘Sports Betting’ bill into law yesterday, in order to legalize all types of sports betting within the state’s boundaries after a relentless seven-year legal battle against the federal law of PASPA.

 

According to the stipulates of the PASPA, all the states in the United States, except four, were legally prohibited to carry out any form of sports betting. However, the Garden State launched a lawsuit to overturn the PASPA in a bid to pave the way for the remaining states to handle their individual sports betting laws of their own free will. According to the experts, a majority of the states are now likely to legalize sports betting within their borders in the wake of the Supreme Court’s decision of rejecting the PASPA.

 

According to a report published by a local media house, the sports betting bill had received a green signal from both the legislative chambers in the state last Thursday. In addition to this, a large number of local casinos and racetracks in New Jersey had also geared up to kick-start their betting season as soon as the sports betting bill was signed into law by Governor Murphy.

 

The race track in Monmouth Park has had its exclusive sports bar called William Hill up and ready to begin its operations ever since it opened back in 2014. However, the operator was faced with a prolonged wait until the Supreme Court ruled in favor of overturning the PASPA.

 

According to the local media, the Monmouth Park was even contemplating going ahead with the sports wagering procedures even before the governor put his John Hancock on the bill. In the report, it was revealed that owing to the delay in the legalization of the sports betting bill, the operator was missing out on huge opportunities of making money through famous betting events such as the World Cup, the Yankees vs. Mets Subway Series, the NBA tournament, and the Belmont Stakes.

 

After signing the highly anticipated Sports betting bill on Monday, Murphy remarked that he was thrilled at the prospect of attracting new business for their Atlantic City casinos and racetracks and boosting the state’s financial prospects in the long run. He further added that legalizing sports wagering was the most suitable move for the Garden State as it will help revive their economy like never before.

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