Online wagering via state-licensed sites would commence 30 days after Murphy signed the bill into law.
Murphy said that the state was “finally making the dream of legalized sports betting a reality.” The state waged a seven-year legal battle to get to this stage, and Murphy said betting would boost the “long-term financial prospects” of the tracks and casinos while strengthening the state’s overall economy.
The narrative now turns to state regulators, who must issue transactional waivers while formal sports betting license applications are pending. The legislation allows a 270-day grace period in which temporary regulations will apply before the final regs are crafted.
The New Jersey Racing Commission will meet tomorrow (Wednesday) and Monmouth Park racetrack is on record saying it expects to open its William Hill-powered sportsbook by Thursday morning, right around the time the 2018 FIFA World Cup kicks off in Russia.
As for the casinos, the Division of Gaming Enforcement has yet to set its own betting timeline, but it’s expected to move swiftly. MGM Resorts’ Borgata property is believed to be the only casino that will be ready on Day One, having converted its existing horseracing book into a temporary Race & Sports Book until its permanent sportsbook area is finished.
Source: GMB / Calvin Ayre
