Monmouth Park: Not taking sports bets Thursday

Monmouth Park’s William Hill Sports Book | Equi

Monmouth Park’s William Hill Sports Book | Equi

The first full day after New Jersey legislators approved a bill to legalize sports betting began with no one actually offering it yet.

DE was the first state to legalize full-scale sports betting, including single-game wagers, since the Supreme Court's decision that states, not the federal government, should determine whether it is legal.

BC-US-Sports Betting-NJ, 3rd Ld-Writethru, 533New Jersey governor: No timetable to act on sports betsAP Photo NYHK302Eds: Updates with additional quote from Murphy explaining why he won't be rushed.

That means betting will technically be allowed to begin as soon as the state Legislautre passes the bill, which would determine how how the Garden State regulates and taxes sports betting online and in person at casinos and tracks.

Monmouth Park in Oceanport had discussed being ready to accept bets as soon as Friday at 5 p.m.

There is a condition to this, of course, which claims that sports events on an global level in which players under the age of 18 are a small part of the participants are still going to be able to see bets being placed. The NBA, MLB, and PGA recently claimed that if sports betting is legalized on a state level, they would want to receive some 0.25 percent of every wager placed on their games as a so-called integrity fee.

The company plans to use the proceeds to strengthen its software engineering resources in order to better serve existing customers in the country.

The legislation passed on Thursday sets the tax rate for sports bets at casinos at 9.75 percent on gross revenue, with a portion of the money earmarked for the promotion of Atlantic City casinos.


Murphy has publicly said he supports sports betting, but it's still unclear when he'll act on the bill. "During the Super Bowl or the NACC Tournament, in Las Vegas you can't get a hotel room and Atlantic City is a ghost town". The offerings at Delaware's three casinos include bets on professional baseball, football, hockey, basketball, soccer, golf and auto racing.

The High Court justices spent years reviewing the Professional and Amateur Sports Protection Act, which prohibited states from authorizing, licensing, regulating and controlling sports gambling.

Should Murphy sign the bill, Monmouth Park, as well as Atlantic City, at least at the Borgata, which is owned and operated by MGM and has experienced sportsbook director Jay Rood involved in the mix, are planning to roll out full-scale sports betting on Friday. The 1.25 percent add-on fee for tracks would be split among the host community and the county in which the track operates. There would be an 8.5-percent tax applied to businesses operating at brick-and-mortar facilities, whereas those who operate online would have to pay a 13-percent tax to the state. Internet betting would begin 30 days after the rest of the law takes effect.

Still on the bench would be the Golden Nugget casino, which is owned by Texas billionaire Tilman Fertitta, who also owns the NBA's Houston Rockets.

But the New Jersey Racing Commission put the state's three racetracks on notice that they need to wait for the governor's approval.

NY might not be too far behind New Jersey, Overmyer reported.

The bills moved out of committee in both chambers on Monday.

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