New Jersey Issues Sports Regulations, Will Not Require In-Person DepositsBy Brett Smiley | Published: June 13, 2018 at 3:50 pm
On Thursday both Monmouth Park in Oceanport, and the Borgata Hotel Casino & Spa in Atlantic City will take their first legal wagers — at 10:30 a.m. ET and 11:00 a.m. respectively, with the first ticket expected to be punched by Murphy.
NJ Sports Betting Operators, Partners and Licensees Now Have Regulations as New Jersey Sports Wagering Set to Begin on Premises and Later Online.
According to the documents, the DGE will be responsible for approving sportsbook technology and for regulating the operation of sportsbooks in the casinos and at racetracks.
The main document is a to-be-expected dense 51-pager that will require further combing, but below are some highlights.
(1) Permission to go:
13:69N-1.17 Transactional waiver to immediately commence sports pool or online sports pool operations (a) a casino may submit a request to the Division for the immediate commencement of sports pool or online sports pool operations. Such request shall include the initial license fee of $100,000, payable to the Casino Control Fund.
EXCLUSIVE: Here's a first look at the betting sheets for Monmouth Park sports book, which opens Thursday at 10:30 am. World Cup soccer, U.S. Open golf, NASCAR, UFC. Dizzying array of options. And we're adding more so keep checking back https://t.co/SWWUnIcN4L pic.twitter.com/LiLxcII6dO
— Steve Edelson (@steveedelsonapp) June 13, 2018
(2) The tax rates:
(3) And from the headline, depositing customers will not have to register in person:
That’s how Nevada currently operates. New York, if the sister bill passes before June 20 (another story), will not require in-person deposits either, a customer convenience that will allow licensed casinos to better compete with offshore sportsbooks and encourage migration from those markets.
Why is this flagged? As far statutory as construction, the bill is a bit vague on this point. It says “An operator shall accept wagers on sports events only from persons physically present in the sports wagering lounge; through self-service wagering machines located in its facility as authorized by the agency issuing the sports wagering license; or through an online sports pool. A person placing a wager on a sports event shall be at least 21 years of age.”
Grand Opening! Legal sports wagering begins 10:30am tomorrow in the Monmouth Park Sports Book by William Hill. Vegas-Style Betting Menu: bet your favorite teams, prop bets, parlays, future wagers and more! pic.twitter.com/khvXFEdJJW
— Monmouth Park (@MonmouthPark) June 13, 2018
Keep in mind that the operative law prohibits online wagering for 30 days.
(4) This is important for DraftKings and FanDuel (acquired by Paddy Power Betfair), both of which have partnered with to-be brick-and-mortar licensees (from the DGE’s FAQ handout):
(5) Finally, some restrictions:
It’s hard to predict at this time how the permanent regulations will differ from these, but certainly the ensuing nine months will be instructive and allow for some adjustment.