Wednesday, 12 December, 2018

Casino industry trade show to address sports betting ruling

Casino industry trade show to address sports betting ruling Casino industry trade show to address sports betting ruling
Sidney Guerrero | 11 June, 2018, 16:30

One report predicts that 18 states will introduce sports betting bills this year.

Thursday's votes were a mere formality, as the legislature has been planning for weeks to send a sports betting bill to the governor.

"We are delighted to be up-and-running as the first - and now only - provider with a market ready solution for our partners in the new regulatory environment". "He got the bill today, he's gonna review it".

Monmouth Park Racetrack says it won't take any sports bets Thursday night.

"We believe the group's proprietary, omni-channel technology coupled with our extensive U.S. and global operating experience and trading expertise, positions us for long-term success". The move gave states the go-ahead to legalize betting on sports.

It was unclear Thursday evening when facilities in New Jersey, including Monmouth Park, would begin taking bets.

But the New Jersey Racing Commission put the state's three racetracks on notice that they need to wait for the governor's approval.

The case, Christie v. NCAA, was initiated in 2012 after New Jersey voters supported amending the state Constitution to allow sports gambling.

The Assembly voted 73-0 in favor, and the Senate voted 37-0.

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"Sports betting, literally trackside, is a great addition to the excitement that is already being generated during our race weekends", said Mike Tatoian, Dover International Speedway's president and CEO. But the state's efforts were challenged in courts by a consortium of sports leagues, leading to a Supreme Court ruling in May that struck down a federal law that had prohibited most states, including New Jersey, from allowing sports betting.

Lawmakers who have long championed sports wagering were celebrating victory at long last in the state's quest to offer it.

New Jersey lawmakers are rethinking a law that would have banned one Atlantic City casino from offering sports betting.

Legal sports betting began this week in DE, where in-person, casino-based gambling is now available.

Republican state Sen. Declan O'Scanlan said racetracks are technically free to start taking bets immediately, even before a bill legalizing sports betting is signed by Gov. Phil Murphy.

The Dublin-based bookmaker Paddy Power Betfair agreed in May, after the US high-court's ruling, to merge its USA business with fantasy sports giant FanDuel. However, the Golden Nugget casino is excluded from taking bets on the N.B.A. because its owner, Tilman Fertitta, is an owner of basketball's Houston Rockets.

PASPA granted an exception for Nevada, Oregon and DE, and further exempted New Jersey if the state enacted legislation within a year allowing sports gambling.

Most states are eager to legalize sports betting because it would generate revenue through taxing the industry.

West Virginia also passed a sports betting law before the Supreme Court decision, and officials there hope to have sports betting when football season kicks off. That would let the Golden Nugget back in the game. "The bill allows for the creation of non-transparent betting markets that deny sports leagues critical tools to monitor betting activity and conduct integrity investigations".

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