New Jersey Pushes Sports Betting Regulations

New Jersey Pushes Sports Betting Regulations
The battle between lawyers for the state of New Jersey and legal representatives of the major US sports leagues over the legality of the state's plan to regulate sports betting continues, but it's obviously not enough to deter the Garden State from introducing the necessary regulations. Namely, this week the New Jersey Division of Gaming Enforcement published regulations for sports betting in the New Jersey Register, thereby enabling qualifying gambling operators in the state to apply for $50,000 sports pool licenses from January 9. As tempting as this opportunity may be for gambling industry players, there's a lot to consider, including the necessary substantial investments in equipment and infrastructure and the variable nature of politics and legal outcomes. This movement is crucial for state racing companies and Atlantic City, which may finally see a financial boost after years of fighting competition and a weak economy. Still, one of the battling sports associations, the NCAA does not plan to come to peace with this novelty – it announced on Oct. 15 that it would find new hosts for five championships scheduled to be held in New Jersey this year.
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