New Jersey’s Gambling Sportsbook
The internet has opened up the world of gambling sportsbooks. In New York, retail sports betting is available in upstate casinos, but there are no online gambling options. But that doesn’t mean there aren’t any opportunities for betting on sports. The state could announce the opening of nine new sportsbooks as early as next week. In Kansas, the lottery-style betting is available in all casinos. However, it is illegal to bet on professional sports on the Internet.
The first gambling sportsbook opened in New Jersey in June 2019, and it has been a huge success. The sports wagering industry is booming in the state, and the casino powers have secured an “early start” over other online-only operators. Despite the popularity of the sport, legal sportsbooks do not have much of a market. In fact, stand-alone mobile and online sportsbooks are unlikely to find a niche in the market.
In New Jersey, gambling sportsbooks aren’t legal at tribal casinos, but the state has legalized the activity in June. The state’s 20-plus tribal casinos have the right to operate a gambling sportsbook, and the casinos’ monopoly could be threatened by new entrants. But a separate legal framework must be put in place to ensure that sportsbooks are operated legally. There are many obstacles, but the first step is gaining a foothold.