new jersey sports betting referendum election

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When you choose a side against the spread and wager 11 to win 10, the book is essentially making a bet of 10 to win 11 on the other side. You can see how that would be a profitable model over time. The exception being more money coming in on a particular side from a few big bettors opposed to more tickets from the public in general.

New jersey sports betting referendum election betting odds calculations

New jersey sports betting referendum election

Louisiana will be the first to ask voters to approve sports betting at the local level instead of statewide. Shall sports wagering activities and operations be permitted in the parish of individual parish name? The Louisiana constitution restricts certain forms of gambling, but allows parish-level voter referendums on specific gaming expansions if approved by a majority of both houses of the legislature and the governor. Lawmakers in the Republican-controlled legislature overwhelmingly supported the sports betting referendum and Democratic Gov.

John Bel Edwards approved it for the ballot. In a best-case scenario, the first legal bet will be placed sometime in the second half of A more likely scenario is However, that late start is a small factor in what could be a difficult legislative process. Despite its more than 20 casinos and thousands of video poker machines, regulated gambling is still controversial in much of Louisiana, where conservative and religious groups opposed to all gaming forms still have considerable influence in the legislature.

After a sports betting bill died short of legalization, lawmakers in were more amenable to allowing voters to decide if they wanted legal sports wagering, then deal with the follow up in In addition to a contingent of lawmakers opposed to any type of legal gaming, there are stark divides over which entities can offer these games. The casinos and horse tracks have found themselves opposed to the video poker terminal operators, which oversee thousands of such games spread across bars and truck stops throughout the state.

Video poker supporters pushed to amend the DFS legislation so the machines could offer daily fantasy games, which helped tank both the DFS tax bill and sports betting legalization efforts. The casinos and horse tracks are among the most high-profile support of legal sports betting, but would undoubtedly oppose any effort to expand wagering to the terminals. It remains to be seen if video-poker supports will push for single-game sports betting, but it could delay or derail legislative efforts next year.

Mobile wagering makes up the vast majority of total handle in mature markets such as New Jersey and Pennsylvania. Roughly two-thirds of parishes supported daily fantasy legalization in , including the most populated, and all seem a safe bet voters there will support legal wagering in Leading up to the election, supporters have also broadcast pro sports betting ads during football games and online.

The parish-by-parish vote all but guarantees sports betting will be legal somewhere in Louisiana after the Nov. Sports betting could become legal in South Dakota if voters approve a constitutional amendment this fall. The current list includes roulette, keno, craps, some types of card games and slot machines. Additionally, federal law mandates that any gaming option approved by the legislature is also allowed at any on-reservation tribal casino if the tribes choose to offer the game and reach an agreement with the state to do so.

The ballot measure simply amends the state constitution; lawmakers would still need to pass legislation that authorizes, regulates and taxes sports betting. State officials would then need to promulgate rules and license operators, a process that could take six or more months after a sports betting bill is passed into law. Sports betting backers are hoping that statewide mobile sports betting can be allowed if the wagering originates on computer servers in Deadwood. How that argument plays in the legislature will be a major question next year if voters approve sports betting in Gambling skeptics in the overwhelmingly Republican state legislature may be amenable to another gaming form in a city where legal gambling already exists.

Legal wagering anywhere within states lines could be a far more difficult political challenge. Still, even if backers gain the political support for statewide mobile wagering, the legality of online betting will likely be a legal target of opponents in the courts. If the amendment passes, bettors could have more than 20 retail sportsbooks to choose from in Deadwood alone, assuming lawmakers and regulators permit each casino an individual license, plus up to nine more sports betting options at tribal gaming centers throughout the state.

An online license for each gaming facility would give South Dakota as many as 30 statewide mobile options, one of the highest totals in the country. Though amendment backers are outwardly positive, there has been little publicly available polling. Leading sportsbook operators such as DraftKings , FanDuel , Penn National and Caesars have combined for several million dollars of contributions for similar ballot measures in Maryland and Louisiana.

GOP state Sen. Bob Ewing, who sponsored the resolution that placed the measure on the ballot, championed sports betting as a chance to keep up with other states that allow wagering, including neighboring Iowa and Montana. Industry analysis groups project South Dakotans, as with residents of the other 49 states, are already gambling on sports illegally through unlicensed bookmakers or unregulated offshore sites.

Voters approved expanded gaming options at Deadwood casinos by a Sports Betting. Officials also hope MetLife Stadium will be chosen to host college football bowl games. A message seeking comment on the legislation was left with the NCAA.

Both figures easily eclipsed what had been the U. That equals or surpasses what Atlantic City used to make in an entire year from casino gambling before sports betting was legalized. New Jersey won a U. Supreme Court case in allowing all states to offer legal sports betting should they so choose. It quickly dominated the East Coast market and challenged Nevada for the national lead.

NJ vote would allow sports betting on all college games. Customers line up to make sports bets at Freehold Raceway in Freehold, N.

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It is outpolling opposition by almost two-to-one. While there will almost certainly be hundreds of thousands of votes against legalizing sports wagering, political insiders believe a majority will vote in favor of it. Craig Zucker D-Montgomery , who sponsored a sports gambling bill earlier this year.

An Annapolis lobbyist who represents a high-stakes client noted that Marylanders approved slot machine gambling in and table games in Nearly one in five voters said they needed more information. Question 2 only asks voters if they approve of sports and event wagering in general. It does not specify where it would be allowed. Those details would need to be hashed out by the General Assembly, which is expected to do a deep dive into the issue in January, when lawmakers reconvene in Annapolis.

A bill that sailed through the state Senate in March died in the House of Delegates at the end of session over a policy disagreement. Even if voters say yes, a federal ban on sports betting in all but four states would have to be repealed or overturned. A legal Atlantic City and race track-based sports book would ensure bettors are not fleeced or put in harm's way.

The ballot question would read:. An interpretive statement that would appear beneath the ballot question says: "A 'yes' vote on this question would allow the Legislature, when permitted by federal law, to legalize the placing of bets on certain sports events at casinos, racetracks, and former racetrack sites. Currently, federal law only permits this type of betting in Nevada and Delaware. It also occurs through illegal betting operations.

If legalized in New Jersey, bets could be placed on professional, college, or amateur sports or athletic events, except that bets could not be placed on any college sports or athletic event that takes place in New Jersey or in which a New Jersey college team is playing. A federal law restricts sports betting to the four states that met a deadline to sign up for it: Nevada, where Las Vegas sports books determine the odds for sporting events across the country; Delaware; Montana; and Oregon.

Montana and Oregon do not currently offer sports betting. The law carved out a special exemption for New Jersey, giving it a chance to decide if it wanted legal sports betting. But the state failed to enact a law that would have done so, and the exemption window closed. A lawsuit filed by state State Sen. Raymond Lesniak, D-Union, argues that the U.

The New Jersey Assembly also passed measures today that would allow Internet wagering by out-of-state residents on horse racing and expand off-track wagering. It also passed a bill to authorize exchange wagering on results of in-state and out-of-state horse races. Exchange wagering is a form of betting in which two or more people place opposing wagers on the outcome of a horse race. Exchange wagering allows a bettor to wager on a selected outcome occurring and another bettor to wager on that same outcome not occurring.

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