Nj Sports Gambling License

There is a NJ sports betting trend, and there are no signs of it slowing down.

The trend we are referencing is the amount of money being wagered on a monthly basis, with the latest all-time high being October’s $803 million. More than 92% of those wagers were made via mobile apps.

The Legalized Games of Chance Control Commission Bingo and Raffle License Process Instructions New Jersey allows certain types of gaming by specific types of non-profit organizations. Pennsylvania charges $10 million for a sports betting license, plus a 36 percent tax rate, by far the highest in the land. New Jersey’s rate is 8.5 percent (13 percent for online), while Nevada is 6.75 percent. Delaware’s sportsbooks are operated by the state’s lottery. Keep in mind though that a bet winnings tax applies to online sports betting. In 2018, sports betting became legal in New Jersey under Governor Phil Murphy. As a result, bet winnings are now subject to the New Jersey Gross Income Tax. NJ Sports betting taxes apply to all institutions and all bet winnings are taxable and need to be reported. New Jersey sportsbooks took over $748 million in legal sports wagering for the month of September, a new record both for the state and for any state in the U.S. The total beat New Jersey's previous record, set in August, by 12%, with over 90% of the total bet online.

Besides being a New Jersey record, it’s the biggest monthly handle ever reported by any legal US sports betting jurisdiction, Nevada included.

The New Jersey Division of Gaming Enforcement released October numbers earlier today.

NJ sports betting revenue came in at $58.5 million, good enough for a 26.1% year-over-year increase.

Here’s a closer look at a few of the other highlights.

NJ sports betting isn’t slowing down

For the year, New Jersey has taken in more than $4 billion in bets, and the last three months have a lot to do with it.

Just look at the numbers.

• August handle: $667.9 million
• September handle: $748.5 million
• October handle: $803 million

So out of the $4 billion, more than 50% of the wagers have been placed over the last three months.

Clearly, the shift in the pro sports calendar as a result of the COVID-19 stoppage is having a lasting impact. Remember, all four major pro sports were sidelined during the months of April, May and June.

They slowly started returning in July, but things really didn’t get rolling again until August.

Now, with NFL betting season in midseason form, the industry is showing no signs of slowing down.

FanDuel + Meadowlands still dominating

Once again, there were no surprises regarding the market leader. The Meadowlands Racetrack crushed the field with $29.8 million in revenue.

Out of that total, $29.3 million came via online.

It’s NJ Gambling Sites’ understanding that the bulk of this number can be attributed to FanDuel Sportsbook. However, PointsBet NJ also operates under the license.

Resorts Digital, which is led by DraftKings Sportsbookand Fox Bet, finished an extremely distant second with $14.6 million. The Resorts-branded app also operates under the license.

Borgata, consisting of BetMGM Sportsbookand Borgata Sports, followed in third with $4.3 million.

In terms of market share, Meadowlands still has the biggest chunk, with 50.8% for October.

NJ sports betting + online casino = winning hand

Looking at the October numbers as a whole, it’s hard to ignore the $93.4 million in NJ online casino revenue.

This is the first time ever that number has crossed the $90 million mark. Fittingly, it comes as the industry is about to celebrate the seventh anniversary of its launch.

Here is why this number is significant. The majority of operators have sports betting and casino platforms integrated in the same app. This means the cross-selling model continues to pay dividends.

Resorts Digital is a perfect example, reporting $21.6 million in internet gaming revenue. Combine it with the sports betting revenue, and the grand total comes out to $36.2 million.

Bally’s Atlantic City, as a land-based operation, only earned $11.5 million in total gaming revenue.

Looking ahead to November revenue

Like previous months in 2020, November’s NJ sports betting revenue will include a couple of interesting twists.

For one, the NBA and NHL regular-season starts are delayed as a result of the much later finishes to their respective seasons.

Right now, the majority of the spotlight belongs to NFL and college football betting.

The Masters is the wild card. The PGA Tour major, which typically follows March Madness betting, is making an extremely rare fall appearance.

This is the first time the event is being played in November. Plus, NJ sportsbooks are going all out for Masters weekend.

Then there is the NBA Draft, which is usually held every summer. This year’s version is taking place Nov. 18, but it’s unlikely to attract a significant amount of wagering.

However, DraftKings is offering odds on everything from the No. 1 overall pick to player draft position to school specials.

But here’s the bigger question: Is the $803 million record here to stay, or will New Jersey be looking at its first $850 million month?

New Jersey Sports Betting

New Jersey has won the fight to legalise sports betting in the USA!

Sports fans in the state had long agitated for a regulated sports betting industry, with billions of dollars being punted with illegal offshore gambling sites annually, and the Supreme Court’s decision to strike down the Professional and Amateur Sports Protection Act (PASPA) effectively paved the way.

This means NJ residents can now legally wager online with one of many betting sites, which includes some of the biggest names in the global gambling industry, as long as they have partnered with a local casino.

Top legal NJ betting sites 2020

Nj Sports Gambling License Renewal

Pointsbet: An Australian-founded company that has pushed into the NJ market, among other areas in the US, that has quickly established itself as a popular option for sports betting fans. Read our Pointsbet NJ review.

Caesars: One of the most respected gambling brands in the US, now has its own sport betting product, which includes both retail betting and online wagering. Caesars is a top option for NJ sports bettors. Read our Caesars review.

Nj Sports Gambling License Requirements

DraftKings: While DraftKings was initially about fantasy sports, the company has progressed through to being a sports betting option through their partnership with Resorts Casino & Hotel and Hollywood Casino. Read our Draftkings NJ review.

William Hill: One of the oldest betting brands in the world, William Hill has partnerships with Monmouth Park, Ocean Resort and the Tropicana, on top of a physical presence at NHL team the New Jersey Devil’s headquarters, the Prudential Center. Read our WilliamHill NJ review.

Golden Nugget: Regularly leads all-comers in terms of money spent at a single betting handle in New Jersey. It’s easy to see why the Golden Nugget Casino sportsbook is so popular, with a state of the art of the land-based betting facility and a top-notch online betting portal. Golden Nugget sits comfortably among the top NJ online betting sites. Read our Golden Nugget review.

Betstars: Owned by giant gambling company The Stars Group, Betstars has got an outstanding reputation in New Jersey. Boasts arguably the slickest interface out of all the betting options in the state. Is partnered with Resorts Casino in NJ. Is expected to rebranded to FOX Bet in the coming months. Read our Betstars review.

FanDuel: One of the most popular fantasy sports sites in New Jersey, FanDuel is now diving headfirst into sports betting, with their site already drumming up some interest in the state. Has a partnership with Meadowlands Racetrack. Read our NJ Fan Duel review.

PlayMGM: A highly visible brand in the USA, PlayMGM has launched an online sportsbook servicing the regulated betting market in NJ. PlayMGM betting has a physical base at the Borgata Casino, but it’s their online arm that has already gained a solid following. While sports betting is covered extensively, PlayMGM does not have any horse racing betting available. Read our PlayMGM review for further information.

New Jersey online sports betting

New Jersey became the first state in the USA to license sports betting in 2018, when they successfully overthrew the professional and Amateur Sports Protection Act, which was the legislation which outlawed sports betting across the country.

New Jersey was at the forefront of a fight to legalise sports betting in the USA. The home of Atlantic City long been advocated to regulate an industry that Nationally had been estimated to be worth close to $200 billion annually.

But from May 14, when the Supreme Court handed down its ruling, sports betting became legal in the state with this allowing legislators to create a regulated environment. It also was a test case for other states, who are now able to legislate sports betting.

Several of the USA’s biggest sporting organisations, including the National Basketball Association, National Football League and the Major League Baseball have indicated they would prefer a Federal approach to gambling, rather than a patchwork of laws across the country.

Prior to the Supreme Court verdict, betting sites in New Jersey were not covered by law. This means you could bet with offshore betting sites without the fear of repercussion from authorities.

Now upwards of 10 betting sites have launched servicing the New Jersey area, with these including UK giants like Bet365 and William Hill. Most of the regulated betting options also have downloadable iOS and Android apps.

Another of the best parts about betting in New Jersey is that all of the online betting sites have got sign up or bonus bet offers available, which is a great way for players to pad their bankroll.

While the online sports betting industry is still so young in New Jersey, there are constant changes, including new sportsbooks being launched regularly, with some of them being from the biggest gambling companies in the world.

Feature of NJ sport bettings sites

• Sports betting free bets
• Watch sports live via online sportsbooks
• Betting promotions surrounding the big events like the NBA and NFL

Online casinos in New Jersey

It is perfectly legal to gamble with online licensed in New Jersey. The catch is they must be associated or partnered with various land-based casinos.

This means it’s illegal to wager with offshore casinos while in the borders of New Jersey, and you must play with casinos licensed by the New Jersey Division of Gaming Enforcement.

These laws were introduced in February 2013 by Governor Chris Christie and enacted in November 2013.

Our top 3 legal casinos for New Jersey are:

Golden Nugget Casino: Has won North American Casino of the year several years in a row. Has great customer service, quick payouts, many deposit methods and over 450 games.

www.CaesarsCasino.com: Gives all new customers a deposit bonus up to the value of $300 and has some other great promotions available. Customer support is 24/7 while payouts generally take between 3-5 days.

www.betfaircasino.com: One of the most well known gambling brands in the world. Has partnered with Golden Nugget Atlantic City to be granted permission to operate in New Jersey. Payouts are quick and there is a good game selection.

Online poker in New Jersey

Online poker falls into the same category as online casinos in New Jersey, meaning you are free to wager with online sites associated with a land-based casino in the state.

PokerStarsNJ: The biggest poker brand in the world couldn’t wait to get into New Jersey. As you would expect the product runs flawlessly and the banking is first rate. All new customers get $30 free no deposit bonus.

How to fund gambling accounts in New Jersey

While sports betting online has traditionally made deposits hard to do, the newly-regulated industry has made this significantly easier, with payment blocking that afflicted offshore sites now a thing of the past. These days you can use things like your credit and debit cards and web wallets like Neteller to fund your casino and sports betting accounts.

Deposits at NJ betting and casino operators usually include:

• Visa
• ACH
• MasterCard
• Prepaid Card
• Neteller
• PayNearMe Cash
• Cash At Casino

* Cash at casino allows you to fund your online account at the casino associated with the site you wish to gamble at.

Major sports teams in the New Jersey area

New Jersey may not have its own NBA or NFL team but there are several of these teams heavily supported in the area. Various college teams from the state are also heavily supported.

NHL: New Jersey is represented by the Devils in the NHL with the team currently in the Metropolitan Division.

NFL: The New York Giants and New York Jets are heavily adopted by people living in New Jersey, with the big apple around 1.5 hours from the heart of New Jersey. The NFL, which culminates in the Super Bowl, is one of the biggest sports betting events in the USA with all of the top NJ betting sites covering this competition. Read our NFL betting guide to find out more about the top-flight American football competition.

Minor League Baseball: The Lakewood Blue Claws are a minor league team affiliate with the Philadelphia Phillies that play in the Class A South Atlantic League. Trenton Thunder are also based in NJ and play in the American League East. The New Jersey Jackals are also based out of Passaic County, New Jersey and feature in the minor leagues. The Somerset Patriots are another pro baseball team in the area that feature in the Atlantic League of Professional Baseball.

Major League Soccer: The New York Red Bulls play in the American professional soccer league, with the team based in Harrison New Jersey. They are a member of the eastern conference.

One of the best ways to follow the New Jersey professional or semi-professional sports teams is via the New Jersey Star Ledger, the no.1 print news publication in the state.

Gambling laws in New Jersey

New Jersey became the first state in the USA to license sports betting in 2018, when they successfully overthrew the professional and Amateur Sports Protection Act, which was the legislation which outlawed sports betting across the country.

This lead to new legislation being introduced in New Jersey which allows sports betting operators to partner with a land-based casino or gambling venue to deliver both retail and online wagering.

It also paved the way for other states in the USA to legalise sports betting, with more than five others following the lead of New Jersey.

One of the biggest sticking points with punters in New Jersey has been the demand from the NJ Division of Gaming Enforcement that you hand over you Social Security Number when betting online.

The NJ Division of Gaming Enforcement announced towards the tail-end of 2019, it would allow betting sites to begin accepting bets on esports, a pursuit that had previously been disallowed.

About the NewJerseySportsbet.com team

Sports betting is in the blood of the team of NewJerseySportsBet.com and we take great pride in presenting accurate and timely information about the online sports betting and gambling industries. We also only employ people who understand the landscape in this USA state which has been a leader in getting sports betting legalised in the USA.

Nj Sports Gambling License Plates

We are always looking for new contributors, both in paid and unpaid positions, and you can reach us via our contact us page, to enquire about these positions.