New Jersey panels advance sports betting law

<p>New Jersey's proposed sports betting law is heading for the finish line.</p>

News 12 Staff

Jun 4, 2018, 11:01 PM

Updated 2,162 days ago

Share:

New Jersey's proposed sports betting law is heading for the finish line.
Committees in the state Senate and Assembly on Monday advanced a bill that would legalize sports betting in the state.
It is on track for final approval on Thursday, and Monmouth Park Racetrack hopes to begin taking bets by Friday if all goes well.
“We are going to be ready, willing and able to go on Friday,” says Monmouth Park president Dennis Drazin.
The bill does not contain an integrity fee payment for sports leagues to help them police betting patterns. Officials of Major League Baseball, the NBA and the PGA Tour testified that they need the fee.
“I do care about my sport. I care about all sports. I don’t want the sports to become what we view as ‘WWF,’ you know?” testified former New York Mets and Yankees pitcher Al Leiter.
Democratic Assemblyman Ralph Caputo told the sports leagues to pay for the state’s legal bills.
“You might want to issue a check for $9 million to the state of New Jersey, just for a show of good faith and maybe estimate all the tax revenue we lost over seven or eight years. That might be helpful,” Caputo told NBA attorney Dan Spillane when Spillane said that the NBA opposed the bill.
If the bill is signed by Gov. Phil Murphy this week, Drazin says that he hopes to have Monmouth Park’s new sports wagering lounge ready to go in time for the Mets and Yankees baseball games and the NBA finals.
Under the bill, sports wagering at a casino or racetrack will be subject to an 8.5 percent tax. Funds from that tax will be paid to the Casino Revenue Fund and the Investment Alternative Tax, which helps supports Atlantic City
The Associated Press wire services contributed to that report.


More from News 12
0:16
New Jersey state trooper dies in training incident

New Jersey state trooper dies in training incident

1:41
Cloudy with passing showers for Monday in New Jersey

Cloudy with passing showers for Monday in New Jersey

2:06
Paterson homeowner says an abandoned home nearby is causing health, safety issues for his family

Paterson homeowner says an abandoned home nearby is causing health, safety issues for his family

0:28
Prosecutors: Discarded smoking material blamed for Lakewood fire that sent 3 to hospital

Prosecutors: Discarded smoking material blamed for Lakewood fire that sent 3 to hospital

1:50
Rainy Sunday impacts businesses on Cinco De Mayo

Rainy Sunday impacts businesses on Cinco De Mayo

0:55
Iconic Paterson hot dog stand Libby's Lunch sold at auction

Iconic Paterson hot dog stand Libby's Lunch sold at auction

1:50
Curfew enforcement for kids under 17 now in effect in Newark

Curfew enforcement for kids under 17 now in effect in Newark

1:11
Injury at Morristown NJ Transit station leads to train service delays

Injury at Morristown NJ Transit station leads to train service delays

2:06
New guidance says women need to be screened for breast cancer at 40 or younger

New guidance says women need to be screened for breast cancer at 40 or younger

3:01
 All I-95 lanes in Norwalk reopen one day after overpass demolition

All I-95 lanes in Norwalk reopen one day after overpass demolition

1:46
Officials: Man killed in house explosion in South River identified as retired Newark officer

Officials: Man killed in house explosion in South River identified as retired Newark officer

0:42
NJ lawmakers criticize how Rutgers officials negotiated with pro-Palestinian protesters

NJ lawmakers criticize how Rutgers officials negotiated with pro-Palestinian protesters

0:28
Special election to be held to fill late Rep. Donald Payne’s seat in Congress

Special election to be held to fill late Rep. Donald Payne’s seat in Congress

0:42
Jersey Proud: Army ROTC students from Rutgers, Seton Hall and Princeton train together

Jersey Proud: Army ROTC students from Rutgers, Seton Hall and Princeton train together

1:32
Knowing the early warning signs during Stroke Awareness Month

Knowing the early warning signs during Stroke Awareness Month

0:27
Prosecutor: 2 people seriously injured in 3-car crash; driver charged with drunk driving

Prosecutor: 2 people seriously injured in 3-car crash; driver charged with drunk driving

0:30
Police: New York man pointed knife at pro-Palestinian protester in Teaneck

Police: New York man pointed knife at pro-Palestinian protester in Teaneck

0:27
Officials: Paterson man threatened to ‘shoot up’ JFK Int’l Airport

Officials: Paterson man threatened to ‘shoot up’ JFK Int’l Airport

2:02
Authorities: Major fire displaces 20 people from 9 families in Elizabeth

Authorities: Major fire displaces 20 people from 9 families in Elizabeth

1:04
Hillsborough school officials vote to end middle school sports, make staff cuts amid budget cuts

Hillsborough school officials vote to end middle school sports, make staff cuts amid budget cuts