New Jersey Legislature Passes Sports Betting Bill

Just minutes ago, the New Jersey state legislature approved a measure that would allow casinos, racetracks, and certain restaurants within the state to accept sports bets. The Senate reportedly passed the measure with a vote of 35-2. Now, the bill will go to Governor Chris Christie who will surely sign the bill into law. Christie has been very outspoken on his support of the measure and will likely sign the measure quickly.

The bill will not guarantee that New Jersey will indeed begin taking sports bets. First, New Jersey must go to court to try and win the state an exception to the federal law that bans sports betting in all states with the exception of Nevada, Delaware, Montana, and Oregon.

If the measure passes and the state is successful in getting an exemption to the federal law, casinos and racetracks in the state would be able to take bets on all sports. Up to 12 restaurants and bars in the state would be permitted to take bets on horse racing, but not on other sports. The program will be evaluated after three years for possible expansion.

This bill may have an added benefit of helping to end subsidies to horse racing venues. Gov. Christie has vowed to end those subsidies and the added revenue from race tracks accepting sports bets may help in that cause.