Future of Sports Betting in New Jersey: Top NJ Sportsbooks

New Jersey Legal Sports Betting Overview

New Jersey Legal Sports Betting Overview

NJ Sports Betting Law Details

Status

  • Retail Sports Betting Launch Date: June 14, 2018
  • Online Sports Betting Launch Date: August 6, 2018
  • Licensed Sportsbooks: Barstool Sportsbook, bet365, BetMGM, BetPARX, BetRivers, Betway, Borgata Sportsbook, Caesars, DraftKings, FanDuel, FOX Bet, Fubo, Golden Nugget, Hard Rock Sportsbook, PlayUP, PointsBet, Prophet Exchange, Sporttrade, SuperBook, Tipico Sportsbook, Unibet, VIE Sportsbook, WynnBET
  • Legal Wagering Options: Futures, moneylines, parlays, point spreads, same game parlays, teasers, totals
  • Legal Gambling Age in NJ: 21+
  • Sports to Bet On: NFL, NBA, MLB, NHL, MLS, MMA, tennis, golf, boxing, motorsports, cricket, European soccer, college sports betting (no in-state teams)
  • Permitted Banking Options: American Express, Discover, Mastercard, PayNearMe, PayPal, Play+, Skrill, Visa, casino cage cashier, online bank transfers
  • New Jersey Gambling Regulator: New Jersey Division of Gaming Enforcement

New Jersey has played a pioneering role in the legalization of sports betting in the United States. Former Governor Chris Christie’s appeal of the Professional and Amateur Sports Protection Act of 1992 (PASPA) to the US Supreme Court paved the way for other states to legalize betting, breaking Nevada’s near-monopoly. Governor Phil Murphy signed bill A 4111 in June 2018, legalizing sports betting in the state.

Currently, there are 23 online sportsbooks in New Jersey, all of which must partner with one of the nine land-based casinos in Atlantic City. Additionally, there are 11 retail sportsbooks in the state, with nine located in Atlantic City casinos. New Jersey’s monthly sports betting handle consistently exceeds $1 billion, making it the state with the largest overall betting handle in the US as of June 2022.

New Jersey Online Sportsbooks Compared

New Jersey offers a wide range of options for sports bettors with its 23 sportsbook operators. To help you choose the best betting site for your needs, we’ve compared the top New Jersey sportsbooks in several key categories:

Best Mobile App – DraftKings

If you prefer betting on the go, DraftKings is the best choice with its mobile app. The app is available on both Apple and Android devices and offers excellent connectivity and an easy-to-use interface. It also provides mobile-exclusive features like event notifications and live streaming.

Best Welcome Bonus – PointsBet

PointsBet offers the best welcome bonus in New Jersey. With this promotion, bettors have the opportunity to wager up to $2,000 risk-free. If you lose, the sportsbook will provide you with free bets equal to your stake. Any profits from these free bets can be withdrawn, giving you a chance to boost your winnings.

Best for Competitive Odds – Caesars

Caesars stands out with its generous odds, particularly in props and European soccer markets. The sportsbook also offers daily odds boosts on major league sports like the MLB and NBA, providing bettors with excellent value.

Best for Market Coverage – VIE Sportsbook

For those interested in eSports betting, VIE Sportsbook is the ideal choice. It offers a wide range of eSports markets, including popular games like Counter-Strike: GO and Dota 2. In addition to eSports, VIE Sportsbook covers 30 sports, providing a diverse range of options for bettors.

Best for Beginner Bettors – DraftKings

If you’re new to sports betting, DraftKings is the perfect platform. The sportsbook provides helpful guides and explanations of different betting types and wagering on various sports. Its user-friendly website design and straightforward navigation make it easy to put your newly acquired knowledge into practice.

Best for Payout Speed – FanDuel

FanDuel stands out with its fast withdrawal process. While most sportsbooks process withdrawals at similar speeds, FanDuel often completes e-wallet withdrawals instantly. However, initial withdrawals with new payment methods may require additional identity checks, which could result in slightly longer processing times.

NFL Betting Guide

Access all our NFL content in one place, including live markets, schedules, tips, and scores.

NBA Betting Guide

Find our favorite sportsbooks and pick up top NBA betting tips with our complete guide.

MLB Betting Guide

Everything you need to help you wager on the MLB, from odds and lines to prop bets and futures.

How Does New Jersey Compare to Other States?

Market Coverage

New Jersey allows betting on professional sports in the US and internationally, decided by the New Jersey Division of Gaming Enforcement (NJDGE). The state also introduced eSports betting in July 2021, accepting up to $100 wagers on these events. Unlike other states, New Jersey does not allow betting on in-state college teams or college teams playing games in New Jersey, with the aim of protecting young athletes from the pressure associated with sports betting.

Competitive Odds & Prices

New Jersey sportsbooks offer similar betting odds to those in other states. With 23 sportsbooks in the market, bettors can find the best odds by comparing betting lines from different operators.

Gambling Revenue

The NJDGE taxes all sportsbook revenue at 14.25%, lower than several other major betting states such as Pennsylvania (36%) and New York (51%). Despite the lower tax rate, New Jersey has emerged as the largest betting market in the US, with an overall handle of $27,165,357,939 as of June 2022. The revenue generated from this betting handle is also significantly higher than in other states.

Betting Taxes

According to the Internal Revenue Code, sportsbooks must pay a 0.25% excise tax on their betting handle. Additionally, sportsbooks must pay a $50 fee for every employee involved in accepting bets. Bettors who win more than $600 must report their taxes to the IRS using a W-2G form. Sportsbooks may hold up to 24% of betting winnings for federal tax purposes. Bettors are also required to pay a state tax of 3% to New Jersey, irrespective of their residency, if they won wagers while in the state.

How to Place a Bet in New Jersey

If you’re new to sports betting in New Jersey, follow these simple steps to get started:

  1. Select a New Jersey sportsbook from our recommended list.
  2. Download the sportsbook’s app or visit their website.
  3. Create an account by providing your personal information.
  4. Make your first deposit and redeem any available welcome bonuses.
  5. Browse the sportsbook’s markets and select your desired wager.
  6. Add your selection to the bet slip, choose your stake, and place the bet.
  7. Verify your identity before making a withdrawal.
  8. Follow the sportsbook’s instructions to complete the withdrawal process.

Banking Methods Available in New Jersey

New Jersey offers a variety of payment methods for sports bettors. These include bank cards like Visa, Mastercard, American Express, and Discover, as well as e-wallets like PayPal and Skrill. Some sportsbooks also accept online bank transfers, PayNearMe, and payments made at the casino cashier. Retail sportsbooks allow cash payments at partner land-based casinos or using the PayNearMe card at participating retailers like 7-Eleven and CVS.

Who is Not Eligible to Bet in NJ?

In accordance with New Jersey sports betting laws, certain individuals are prohibited from betting. These include professional and college sports team staff, coaches, and athletes; individuals with access to non-public information that could influence sports events; and anyone with a stake in a sports team. Referees, employees of sports leagues, and individuals voluntarily excluded from gambling activities are also not eligible to bet.

Latest New Jersey Sports Betting Updates

Online and retail sports betting are legal and regulated in New Jersey. Retail sportsbooks launched in June 2018, while online sports betting became available in August 2018. eSports betting is also regulated and accepted for events approved by the NJDGE.

Current Sports Betting Status in New Jersey

Online and retail sports betting are legal and regulated in New Jersey. There are 11 retail sportsbooks at partnered casinos in Atlantic City, as well as 23 online betting sites offering a wide range of professional sports and college sports (excluding in-state teams).

Timeline for Sports Betting in New Jersey

  • July 2021: New Jersey introduces regulated eSports betting.
  • August 6, 2018: DraftKings launches the first online sportsbook in New Jersey.
  • June 14, 2018: Caesars at Monmouth Park becomes the first retail sportsbook in New Jersey.
  • June 11, 2018: Gov. Murphy signs A 4111, legalizing sports betting at licensed land-based casinos and horse racetracks and allowing online sportsbooks to apply for licenses.
  • May 2018: The US Supreme Court strikes down PASPA, allowing states to legalize sports betting.
  • June 2017: The US Supreme Court agrees to hear New Jersey’s argument for legalizing sports betting.

New Jersey Sports Betting Background

New Jersey has been at the forefront of sports betting legalization in the US. Former Senator Bill Bradley was responsible for the enactment of PASPA, but it was ultimately New Jersey that brought the case to the US Supreme Court for repeal. Initial challenges to the law began in 2009, with subsequent attempts in the District Court and the introduction of legislation to legalize sports betting on professional sports at licensed locations. New Jersey faced opposition from major US sports leagues, but eventually succeeded in having PASPA struck down in May 2018.

Future of New Jersey Sports Betting

No significant changes are expected in New Jersey’s sports betting laws, as the state has already legalized most forms of sports betting. However, there is the potential for new sportsbooks to enter the market in the future.

New Jersey Responsible Gambling Resources

To assist individuals struggling with gambling-related issues, New Jersey provides several resources:

  • Council on Compulsive Gambling of New Jersey – Offers a 24/7 helpline and live chat for assistance, as well as access to self-tests, meetings, and support for friends. Contact: (800)-522-4700
  • Gamblers Anonymous – Organizes meetings and virtual meetings for problem gamblers, and provides hotline numbers and a recovery program. Contact: (855)-222-5542
  • New Jersey Division of Gaming Enforcement (NJDGE) – Offers a self-exclusion program to protect individuals from problem gambling. Sports bettors can sign up for this program to prohibit themselves from accessing any online sportsbook in New Jersey or betting at retail sportsbooks.

Who Oversees Sports Betting in New Jersey?

The New Jersey Division of Gaming Enforcement (NJDGE) is responsible for regulating sports betting in the state. Sportsbooks must meet the NJDGE’s standards for player safety and responsible gambling measures to receive a license. The NJDGE Director determines the percentage of license fees that go towards responsible gambling services annually, which includes organizations like the Council on Compulsive Gambling of New Jersey.

Frequently Asked Questions (FAQs)

Is betting legal in New Jersey?

Yes, sports betting is legal in New Jersey. Bettors can use online sportsbooks or visit retail sportsbooks at Atlantic City casinos to place bets.

Who governs sports betting in New Jersey?

The New Jersey Division of Gaming Enforcement (NJDGE) regulates sports betting in the state and sets standards for player safety and responsible gambling measures.

How old do you have to be to bet in New Jersey?

You must be at least 21 years old to place legal bets in New Jersey. Retail sportsbooks and online sportsbooks both enforce this age requirement.

When did sports betting launch in New Jersey?

Retail sports betting was introduced in June 2018, while online sports betting became available in August 2018.

What sportsbooks are legal in New Jersey?

There are 23 online sportsbook operators licensed in New Jersey, including Barstool Sportsbook, BetMGM, Caesars, DraftKings, FanDuel, PointsBet, and WynnBET.

Do I have to pay taxes on betting winnings in New Jersey?

Yes, all gambling winnings must be declared to the IRS. If your winnings exceed $600, you must report them using a W-2G form.

Can you play DraftKings in New Jersey?

Yes, DraftKings Sportsbook is available for betting in New Jersey. It was the first online sportsbook to launch in the state.

Can you play FanDuel in New Jersey?

Yes, you can use the FanDuel desktop site or mobile app to place bets in New Jersey. There is also a FanDuel sportsbook at the Bally’s Atlantic City Hotel & Casino.

Can you play BetMGM in New Jersey?

Yes, BetMGM is available for betting in New Jersey through its app and online platform.

Can you play Caesars in New Jersey?

Yes, Caesars offers online sports betting in New Jersey, in addition to its retail locations. It accepted the first in-person sports wagers in the state.

Can you play TwinSpires in New Jersey?

No, TwinSpires is not available for betting in New Jersey.

Which sportsbooks will be available in New Jersey in the future?

While the New Jersey sports betting market is already competitive, there is still potential for new operators to enter the state in the future.

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Doug I. Jones

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