- A November 2 ballot question is letting New Jersey residents vote to allow betting on in-state college teams.
- The extra income from more wagers would provide more taxes, and supplement the loss of out-of-state bettors.
TRENTON N.J. – New Jersey is easily the most sports betting friendly state in the country, topping even Nevada in terms of money wagered. That doesn’t mean there aren’t still a few restrictions however.
The Ballot Question To Expand Gambling And Sports Betting
One of the wagering restrictions on New Jersey residents is the ability to bet on in-state college teams, but a November 2 ballot question is giving residents the chance to change that.
“Do you approve amending the Constitution to permit wagering through casinos and current or former horse racetracks on all college sport or athletic events?” reads the ballot question.
If the ballot passes, it will expand gaming and sports betting options across New Jersey, and finally allow residents to place wagers on their home teams.
The Benefits Of Expanding The Market
State-regulated legal New Jersey sports betting is already the biggest in-state wagering industry in the country, these expansions would almost certainly further increase the amount of money being bet.
“The anticipated increase in sports wagering from lifting the ban would benefit the state through increased tax revenue. The sports books and their land-based casino partners would also benefit through increased betting activity,” said Jane Bokunewicz, head of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University.
Not only that, but with surrounding states like New York and Connecticut expanding and opening up their own regulated sports betting markets, New Jersey revenue being made from out-of-state bettors coming in to place wagers will likely decrease.
Allowing residents to bet on their home team could supplement the loss of out-of-state bets. New Jersey residents will be able to vote on this ballot on November 2, leaving the decision to expand gambling -and by extension legal sports betting- in the hands of the voter.
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