Online sports betting is poised to make up a significant portion of New Jersey’s now legal sports betting industry. According to a new report by consulting firm Eilers & Krejcik Gaming, New Jersey’s revenues from sports gambling will surpass Nevada’s as early as 2021. The report projects that New Jersey’s gaming industry will reap $442 million that year, while Nevada will take in $410 million.
In support of New Jersey’s rapid success, the report cites the state’s highly-competitive online sports betting sector, which is predominated by cutting-edge product as well as competitive pricing and promotions; very high rates of black market recapture; and opportunities for cross-selling between online sports betting and online casino gaming.
New Jersey Online Sports Pools
In an impactful ruling, the Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992 (PASPA) last May. The federal law prohibited sports gambling in most states, including New Jersey. Governor Phil Murphy signed legal sports betting into law on June 11, 2018. While online wagering technically became legal a month later, platforms have been slow to come online, largely due to the regulatory hurdles.
Under New Jersey’s sports wagering law, businesses cannot simply launch an online sportsbook. Rather, casinos and racetracks must obtain a sports wagering license and must have a brick-and-mortar “sports wagering lounge” within their facility to also be able to offer online betting. In addition, each sports wagering licensee may provide no more than three individually branded sports wagering websites.
The New Jersey Division of Gaming Enforcement must sign off on agreements between racetracks or casinos and Internet sports pool operators. Further, Internet sports pool operators must obtain a permit to conduct an online sports pool.
To date, four business partnerships have satisfied all of the requirements and can now accept sports wagers online. DraftKings Sportsbook is partnering with Atlantic City’s Resorts Casino & Hotel, FanDuel Sportsbook has partnered with the Meadowlands Racetrack, and William Hill has teamed up with Monmouth Park racetrack. Meanwhile, Borgota, which is owned by MGM Resorts International, launched its own playMGM app. Borgata was one of only two sportsbooks to take wagers on the first day of New Jersey sports betting. The Golden Nugget expanded its partnership with the PlaySugarHouse NJ online casino to include sports wagers.
For businesses looking to enter New Jersey’s legal sports betting industry, we encourage you to work with a knowledgeable New Jersey business and gaming attorney who can help you navigate the regulatory framework. As with any other new industry, there is a wealth of opportunity, as well as many traps for the unwary.
If you have any questions, please contact us
If you have any questions or if you would like to discuss the matter further, please contact me, Ashley Brinn, at 201-806-3364.
Supreme Court and Title VII: Implications for Reverse Discrimination
Earlier this month, the U.S. Supreme Court issued a decision in Ames v. Ohio Department of Youth Services vitiating the so-called “background circumstances” test required by half of federal circuit courts.1 The background circumstances test required majority group plaintiffs pleading discrimination under Title VII of the Civil Rights Act to meet a heightened pleading standard […]
Special purpose acquisition companies (better known as SPACs) appear to be making a comeback. SPAC offerings for 2025 have already nearly surpassed last year’s totals, with additional transactions in the pipeline. SPACs last experienced a boom between 2020–2021, with approximately 600 U.S. companies raising a record $163 billion in 2021. Notable companies that went public […]
Short Form Merger: Streamlining the Process for Businesses
Merging two companies is a complex legal and business transaction. A short form merger, in which an acquiring company merges with a subsidiary corporation, offers a more streamlined process that involves important corporate governance considerations. A short form merger, in which an acquiring company merges with a subsidiary corporation, offers a more streamlined process. However, […]
Tariff Response Options for Small Businesses Facing Financial Distress
The Trump Administration’s new tariffs are having an oversized impact on small businesses, which already tend to operate on razor thin margins. Many businesses have been forced to raise prices, find new suppliers, lay off staff, and delay growth plans. For businesses facing even more dire financial circumstances, there are additional tariff response options, including […]
Common Causes of Partnership Disputes and How to Resolve Them
Business partnerships, much like marriages, function exceptionally well when partners are aligned but can become challenging when disagreements arise. Partnership disputes often stem from conflicts over business strategy, financial management, and unclear role definitions among partners. Understanding Business Partnership Conflicts Partnership conflicts place significant stress on businesses, making proactive measures essential. Partnerships should establish detailed […]
Businesses Are Facing Financial Headwinds—A Practical Guide
*** The original article was featured on Bloomberg Tax, April 28, 2025 — As a tax attorney who spends much of my time helping people and companies who have large, unresolved issues with the IRS or one or more state tax departments, it often occurs to me that the best service that I can provide […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
