Land-based gambling, online gambling, and online poker are all legal in New Jersey, a state in which many believe that there should be legalized sports betting. For the past six years, there has been a battle to legalize sports betting in the Garden State, which was blocked by the courts in August last year. The sports betting industry in the United States is estimated to be worth $150 billion.
U.S. Supreme Court to Hear NJ Appeal
There is, however, some hope that the law may change. The United States Supreme Court has agreed to hear New Jersey’s appeal in October.
Sports betting is a large industry that continues to thrive illegally. There are a few states that have legal sports betting including Nevada, Delaware, Montana, and Oregon. The states that have legalized sports betting bring in large revenues from the gambling that takes place on sporting events.
Legalizing Sports Betting Creates Revenue
The executive director of the Levenson Institute of Gaming, Hospitality and Tourism at Stockton University, Rummy Pandit, commented on the news, noting: “This is really a big deal for New Jersey, specifically Atlantic City.”
Pandit further noted: “There’s a significant illegal market that’s going on in the nation today, and legalizing this is only going to help. When you get this new segment coming in, this is not just going to be gaming revenue. This is also going to be non-gaming revenues that will be driven from rooms and accommodation, occupancies, food and beverage, entertainment, other amenities will also start to increase by the increased volume of people.”
When New Jersey held a vote regarding legalized sports betting in 2011, there was almost a two to one margin of voters who wanted legalization. Depending on the Supreme Court’s decision, New Jersey could be heading for legal sports betting.
Governor Chris Christie Optimistic
Ted Olson will be representing New Jersey at the Supreme Court. Olson has a good winning percentage in the Supreme Court, inspiring confidence in those who are working towards legalized sports betting in New Jersey.
Governor Chris Christie said: “So, I’m very optimistic… Again, if the Supreme Court goes the other way, I don’t know what our options are but we’ll have to make that evaluation at the time. But the fact that the Supreme Court granted cert in this case is a very good sign for sports betting having a future in New Jersey. I’m encouraged by it. We’re not declaring victory, but at least we’re in the game, and that’s where we want to be.”
