New Jersey lawmakers introducing bill to legalize sports betting

[FONT=&quot]TRENTON, New Jersey --[/FONT]
[FONT=&quot]New Jersey lawmakers are scheduled to make some key decisions as they race to legalize sports betting after winning a case in the U.S. Supreme Court.[/FONT]

[FONT=&quot]Lawmakers in the state Senate and Assembly are scheduled Monday to take up several measures that would authorize sports betting.[/FONT]

[FONT=&quot]They'll have to work out differences among the various proposals and make important decisions on how much the activity should be taxed.[/FONT]

[FONT=&quot]New Jersey won a Supreme Court case last month overturning a federal law that limited sports betting to only four states. Individual states are now free to pass laws legalizing it, if they desire.[/FONT]

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Al Leiter needs to shut up.

http://www.pahomepage.com/news/lawmakers-facing-key-decisions-on-sports-betting-rules/1217227189




Lawmakers facing key decisions on sports betting rules


TRENTON, N.J. (AP) - Professional sports leagues came out swinging Monday against New Jersey's sports betting law, largely because it doesn't compensate them for keeping watch for corruption.

But, state lawmakers brushed back those concerns, telling the leagues that such payments aren't going to happen.

New Jersey lawmakers are facing some key decisions Monday as they race to legalize sports betting after winning a case in the U.S. Supreme Court.

Members of the state Senate and Assembly are taking up a bill that would authorize sports betting.

Officials from Major League Baseball, the NBA, and the PGA Tour testified against the proposed bill. They say the leagues need the integrity fee payments, as well as additional tools like information sharing and real-time data controls to make sure betting is conducted honestly.

But, they stopped short of threatening to sue to block the law, saying they hope to bring about their desired changes through negotiation.

The integrity fee does not exist in Nevada.

Bryan Seeley, a former federal prosecutor who now serves as Senior Vice President and Deputy General Counsel for MLB, said his office was created due to a sports betting scandal: the 1919 World Series that was intentionally lost by the Chicago Black Sox in league with gamblers.

"Any law to authorize and regulate sports betting must put consumer safety and sports integrity first," he said in prepared testimony. "It must recognize that without our games and without a product that fans can trust, sports betting cannot exist. "

Dan Spillane, Senior Vice President and Assistant General Counsel for the NBA, said sports betting is a unique industry, "which builds its product entirely on another business (i.e., a sports league), imposes substantial risks on the other business, and requires the other business to spend more to protect itself, all without providing compensation or a voice in how the underlying product is used."

But Ralph Caputo, a Democratic Assemblyman and former Atlantic City casino executive, unleashed a high, hard one at the sports leagues, barely disguising his anger over their legal opposition that led to the case making it all the way to the U.S. Supreme Court.

"You guys are in it to make money," he said. "This is hypocrisy. Nine years of fighting the state of New Jersey, and you come here? It's disgraceful. Just a suggestion: You may want to write a check to the state of New Jersey for $9 million for all the money we lost" fighting the league in court.

Former New York Yankees and Mets pitcher Al Leiter said the bill would pose enormous pressure on major and minor league players to make shady bets on their own games, particularly in the low-paid minors.

"You're making $1,100 a month, and the Borgata (casino) has a product that says Leiter will throw a first pitch ball. And I threw a lot of them in my career. So my buddy says, 'Just throw a ball on the first pitch, you're not throwing the whole game.'"

The bill approved by the Assembly committee set the tax rate for casinos at 8 percent, with an additional 1.25 percent payment that would be used to help Atlantic City pay down its debt. The 1.25 percent add-on fee for tracks would be split among the host community and the county in which the track operates. Internet bets would be taxed at 13 percent.

New Jersey won a Supreme Court case last month, overturning a federal law that limited sports betting to only four states. Individual states are now free to pass laws legalizing gambling, if they desire.

New Jersey lawmakers hope to have a final bill passed and signed by the end of this week in their race to be among the first states to offer sports betting at casinos and racetracks following the court ruling. But, Delaware appears poised to be first, planning to take sports bets starting Tuesday.

Dennis Drazin, president and CEO of Darby Development LLC, which runs Monmouth park, said he hopes to start taking bets on Friday if the Legislature approved a bill the day before.

In addition to the Monmouth Park, Meadowlands and Freehold Raceway tracks, the bill would also make the former Atlantic City Race Course, in Mays Landing, eligible to offer sports betting - if it were to reopen. It closed in 2015 and needs significant work.

Lmao@ bringing up the 1919 world series & Chicago Black Sox.......is this clown kidding?

Baseball players back then had to work a job as well as play ball......most players didn't make jack sh*t back then......no comparison to what players make now a days.

Biggest lies told by leagues today in NJ sports betting hearing, ranked:

1. No way you can set lines without official data.

2. Sportsbooks will take half million dollar bets on in-game bets via mobile devices.

3. DOJ was a litigant in the US Supreme Court case.


Patrick Everson ...

"These guys with the leagues just find more ways to make themselves sound completely ignorant. Vegas setting and moving lines all day, every day, a seamless machine. And nobody is taking half-million-dollar bets on IN-GAME mobile-app wagering"

"One industry insider says his books' in-game mobile-app limits are under $1,000. He said other sportsbook operators have quite a bit higher limits, depending on the customer, but nowhere near $500,000"

The Computer Group said:

In addition to the Monmouth Park, Meadowlands and Freehold Raceway tracks, the bill would also make the former Atlantic City Race Course, in Mays Landing, eligible to offer sports betting - if it were to reopen. It closed in 2015 and needs significant work.

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The race course would be dynamite, its like a 10 minute ride for me

The Computer Group said:

Lmao@ bringing up the 1919 world series & Chicago Black Sox.......is this clown kidding?

Baseball players back then had to work a job as well as play ball......most players didn't make jack sh*t back then......no comparison to what players make now a days.

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They are just trying to justify getting a piece, you know for integrity reasons . LOL

Betallsports said:

They are just trying to justify getting a piece, you know for integrity reasons . LOL

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I've always thought of New Jersey as New York (Lite)...LOL

With some of the Umps still in the game how can they push integrity

when they gladly accept bad performance that effect the game outcome daily

New Jersey Senate passes sports betting bill unanimously ... Now heads to full vote on Thursday and then to Governor’s desk.

Bring back turf racing at atlantic city

https://www.google.com/amp/s/www.cb...ature-expected-to-approve-sports-betting-law/



New Jersey legislature expected to approve sports betting law


New Jersey's proposed sports betting law is heading down to the wire, with final legislative approval expected on Thursday. But it's anyone's bet when Gov. Phil Murphy might sign it and the cash can start changing hands.

Despite the desire of Atlantic City casinos and state racetracks to begin taking bets Friday morning, it is uncertain when the Democratic governor will let them. He previously voiced support for sports betting before the details of an actual bill were written.


Three weeks ago, New Jersey prevailed in a Supreme Court case that struck down a federal law limiting sports betting to just four states. Now, any state is free to adopt laws legalizing it, and analysts expect most to do so. A report this week by Eilers & Krejcik Gaming predicted that only six of the 50 states will not have approved sports betting by 2023.


Following anticipated passage in the state Senate and Assembly on Thursday afternoon, the bill would go to the governor's desk. Monmouth Park Racetrack has been particularly vocal in its desire to begin taking bets on Friday, hoping to cash in on anticipated large racing crowds this weekend.

The bill would allow Atlantic City casinos and racetracks including Monmouth, the Meadowlands and Freehold Raceway to offer sports betting. A provision also would allow it at the former Atlantic City Race Course if that facility were to reopen.

The bill set the tax rate for casinos at 8.5 percent, with an additional 1.25 percent payment to help market Atlantic City. The 1.25 percent add-on fee for tracks would be split among the host community and the county in which the track operates. Internet bets would be taxed at 13 percent.


Internet betting would begin 30 days after the rest of the law takes effect.

The measure also is full of clauses that would help at least four casinos offer sports betting even though they or their owners have ownership ties to professional sports teams. It would benefit the Borgata and three casinos owned by Caesars Entertainment.

The bill would ban casinos or executives who own professional sports teams from offering sports betting, theoretically counting out Borgata owner MGM because it also owns the WNBA's Las Vegas Aces. But under a clause in the bill, MGM would be approved because the team generates less than 1 percent of its total annual revenue.

Joshua Harris owns the Philadelphia 76ers and the New Jersey Devils and would get in under a clause allowing those who own less than 10 percent of a casino or gambling company to participate in sports betting. Harris' Apollo Global Management owns less than 10 percent of Caesars Entertainment, which in turn owns Harrah's, Caesars and Bally's.

Still on the bench would be the Golden Nugget. That casino is owned by Texas billionaire Tilman Fertitta, who also owns the NBA's Houston Rockets. He could get a sports betting license provided he sells the basketball team within a year — something he has not shown any public interest in doing.

Saw a Tweet that the Golden Nugget will be allowed to book sports in AC with exception of the NBA.

Sports betting in New Jersey: Inside Monmouth Park

No NJ wagering till Governor Murphy signs bill. He's waiting because he wants some concessions by the legislature. Meet the new boss same as the old boss. Murphy is Chris Christie Jr.

JackStraw77 said:

No NJ wagering till Governor Murphy signs bill. He's waiting because he wants some concessions by the legislature. Meet the new boss same as the old boss. Murphy is Chris Christie Jr.

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..

We won't get fooled again..!!

https://www.google.com/amp/s/www.legalsportsreport.com/21046/betfair-nj-and-ny-sports-betting/amp/



Betfair US Inks NJ, NY Sports Betting Deals; FanDuel ‘Very Likely’ To Be Used As Primary Brand


As New Jersey sports betting neared reality on Thursday, a new deal came down that would impact both NJ and New York.

Betfair US — the American arm of European bookmaker Paddy Power Betfair — announced it had “reached long-term agreements for retail and online/mobile sports betting with Meadowlands Racetrack in New Jersey and Tioga Downs in New York.”

The news came as an NJ sports betting bill headed to the desk of Gov. Phil Murphy. If that bill is enacted soon, Meadowlands could have a land-based sportsbook up by mid-July, Betfair US told Legal Sports Report.

Inside the Betfair deals with Meadowlands, Tioga Downs
The deal gives Betfair a sports betting presence in two different states — one that is on the cusp of legal wagering, and another whose immediate future is murky.

Jeff Gural, chairman of Meadowlands and Tioga Downs, made a move that makes a lot of sense for his two tracks.

“Sports betting is a great opportunity for Meadowlands and Tioga Downs,” Gural said in a release. “We went through a diligent process and reviewed several options to provide customers with the best sports betting experience possible. In the end, Betfair’s world leading products and experience proved the best choice. We are eager to get started with our partners, with whom we have had a long relationship for racing with TVG, on this exciting venture.”

“We could not be more excited to partner with Jeff Gural and his partners for sports betting in New Jersey and New York,” Levin said in the release. “Meadowlands Racetrack has the potential to be among the best, if not the best, sports betting venues in the US. Combining these premier facilities with the global sports betting prowess of Paddy Power Betfair is a great match and will enable us to bring an unparalleled sports betting experience to customers in the northeast.”

TVG is an online horse betting site that is a part of Betfair US. PPB also recently announced it was acquiring US daily fantasy sports site FanDuel. Clearly, the plan will be to use that company’s database of users to give it a leg up in the nascent US sports betting market. That deal is supposed to close in the third quarter of this year.

“We didn’t just start on day one,” Levin told LSR about its sports betting plans, after the announcement came down. “We’ve been working for quite some time under the assumption that this would be the outcome.”

FanDuel important in Betfair plans
FanDuel is not a minor part of the plans in these two states and beyond. According to Levin, it’s “very likely” that FanDuel will be deployed as Betfair’s primary brand across the US. That means we could be seeing FanDuel-branded sportsbooks in the two states in question.

TVG will remain as the primary brand for horse betting.

Of course, none of this is official until the acquisition goes through.

Meadowlands and Betfair
The first and more important piece of the deal — at least initially — is the Meadowlands.

The harness-racing track is located in East Rutherford, NJ, just miles outside of New York City. It’s right by MetLife Stadium, the home of the New York Giants and New York Jets.

Its location should make it a force to be reckoned with in New Jersey sports betting market. With New York only a “maybe” on legalizing sports betting in the short term, this will be the closest location for New Yorkers to wager right now.

Betfair already has the technology to offer online and mobile wagering, but it’s also possible the FanDuel brand could be deployed as a sportsbook. Betfair also operates an NJ online casino under the license of the Golden Nugget in AC.

The state could be a day away from legal land-based wagering, if Murphy signs the bill, or longer if he waits to do so. Online wagering can take place 30 days after the law’s enactment. So the Betfair deal will likely kick in quickly, here.

Levin said Betfair will “have online [sports betting] ready by the start of NFL.”

Status of NY sports betting and Betfair
Betfair is also getting in on the ground level of a potential NY sports betting industry, as well.

Tioga Downs is located in Nichols, NY, one of New York’s four commercial casino facilities. It has a hotel, horse racing and a casino floor featuring slots and table games.

Tioga is especially well-situated in New York for sports betting. If the bills under consideration pass, the commercial casinos would be the primary licensees, and other entities would act as “affiliates.” Commercial casinos are already authorized to have legal sports wagering under the laws that created them. But it’s not clear the state will move forward without a bill that allows other gaming facilities (tracks, off-track betting, tribal casinos) in the state to follow suit.

Time is short for NY to pass a bill, as less than two weeks remain in the legislative session. Here’s the latest on the situation in Albany.