Submitted by rsteel on
Sports bettors everywhere are pinching themselves after an underdog victory came through in a backdoor cover that caught the industry by surprise.
As of Monday, sports betting is legal in a state other than Nevada - and we're not just talking about parlays.
New Jersey Governor Chris Christie's office issued a statement on Monday making the news official and Attorney General John Hoffman has filed a motion in US District Court asking it to clarify the injunction on sports betting made in February of 2013.
"Based on the arguments of the sports leagues and the United States Department of Justice, the 3rd Circuit has already ruled that New Jersey can carry out sports wagering as described in today's statewide directive," the governor's office wrote in a statement. "The motion simply would clarify and formalize that authority and give clear guidance to casinos and racetracks waiting to open a sports pool in New Jersey."
The question everyone is asking now is: When will betting be available in the state?
Dennis Drazin, an attorney and advisor to the New Jersey Thoroughbred Association, which leases Monmouth Park from the state, told me Monday afternoon he expects it to be within 30 days.
Sen. Ray Lesniak, who has led the way in New Jersey's sports betting fight, Tweeted Monday night that we'd see sports betting offered in New Jersey no later than early November.
William Hill US has a sports bar already set up at Monmouth race track and they signed a deal in May of 2013 to be the exclusive sports betting partner to Monmouth if it ever became legal in the state.
"We are reviewing the Attorney General's directive and the motion filed in U.S. District Court," William Hill U.S. CEO Joe Asher said in the statement. "Obviously, this is a significant development. Like others, we recognize that legalized sports betting is inevitable, and will be a good outcome for customers, states and the sports leagues. In light of our significant investment at Monmouth Park, we are happy that it appears racetracks and casinos in New Jersey will be taking sports bets sooner rather than later."
It's likely no coincidence the legalization news comes on the same day Gov. Christie convened a gaming summit in Atlantic City, which will see casinos fall from 12 to just eight when the Trump Plaza closes its doors on Sept. 16.
It is my humble opinion just like what we experienced a number of years ago with the vast expansion of casinos we will begin to see sports betting on individual games legalized in most states as govenments continue to looks for alternative ways to increase revenue.
Sports leagues watch as the NFL developed into the juggernaut they are because it is so popular to bet on. They want a piece of this and all that remains is for them to figure out how they can get a slice of the huge pie. Adam Silver was recently quoted as saying it is inevitable that sports betting on NBA games is imminent across the U.S. legally.
Stay Tuned people the times of trying to figure out which method to make deposits and withdraws especially in the U.S. will be coming to an end. It is only a matter of time.