A comprehensive rundown of both land-based and online options for sports betting in New Jersey
The delay created uncertainty about when wagering would begin, and Murphy signed the bill Monday with little advance warning. In the meantime, criticism of Murphy mounted. His delay in signing "will go down in history as one of the most bungled state policies anywhere, anytime! The New Jersey Racing Commission will meet to discuss regulations Wednesday, then create regulations that Murphy must ratify, according to the governor's statement.
After that, racetracks and casinos will be able to secure the waiver needed to begin betting. Online sports betting cannot begin until 30 days after the bill was signed. Any racetrack or casino that is licensed can operate sports wagering, with one exception -- if an owner also has a 10 percent or greater share in a sports team, the wagering lounge cannot take bets on any team in the league.
The bill also has a carve-out for the former Garden State Park racetrack in Cherry Hill that would allow the owners of the site to open a sports-betting parlor. Without the federal ban in place, any state can vote to legalize sports betting. Pennsylvania has legalized the practice and is working to draft regulations that must be in place before books can open. License applications are currently open for casinos. Staff writer Andrew Seidman contributed to this article.
The annual National League of Cities report signals potentially more challenging times ahead for many localities. In its bid to start collecting a sales tax on internet purchases, Colorado could run afoul of the Supreme Court's ruling. The IRS has moved to block high-tax states from circumventing GOP limits on tax deductions -- but not in every way possible.
In a year when the federal government is dialing back financial regulations, Colorado could become the 16th state to limit the notoriously high interest rates on payday loans. Please check your inbox to confirm your email address and start receiving newsletters. By Nihal Kolur June 11, Sign Up for our Newsletter Don't get stuck on the sidelines! Sign up to get exclusives, daily highlights, analysis and more—delivered right to your inbox!
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