Murphy signs sports betting into law

Sports betting expected to begin Thursday

Mike DeNardo
June 11, 2018 - 4:30 pm
Delaware launches the country's first full-scale sports betting operation outside of Nevada as people roll into the Casino at Delaware Park in Stanton, Del. to wager their bets.

Suchat Pederson/The News Journal via USA TODAY NETWORK

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TRENTON, N.J. (KYW Newsradio) — New Jersey has become the third state in the nation to allow sports betting, now that Gov. Phil Murphy has signed a gambling bill passed by the legislature last week.  

As expected, Murphy signed a bill authorizing sports betting at Garden State casinos and racetracks as well as online.  

"Today, we're finally making the dream of legalized sports betting a reality for New Jersey," he said in a statement. "Our casinos in Atlantic City and our racetracks throughout our state can attract new business and new fans, boosting their own long-term financial prospects. This is the right move for New Jersey and it will strengthen our economy."

Licensed casinos and racetracks can also apply to operate an online sports pool 30 days after the bill is signed.

The move comes a month after the U.S. Supreme Court sided with New Jersey, in a decision that allowed states to legalize sports gambling. 

Last week, Delaware joined Nevada in allowing sports gambling, and now New Jersey adds itself to the list.  

So how soon can New Jersey players place their bets? A statement from the Borgata in Atlantic City said the casino expects to begin accepting sports bets "as soon as required regulatory approvals are in place." 

The New Jersey Racing Commission will meet Wednesday to review regulations, where the governor will be able to ratify the commission's decision and licensed racetracks can apply for a temporary waiver to begin sports betting.

The Monmouth Park racetrack reportedly expects to begin taking sports bets on Thursday.

Officials estimate $13 million could be generated in the first year from state tax revenues.