New Jersey prepares for today's sports betting launch
Wagers on the FIFA World Cup and US Open golf are among the markets available to New Jersey punters from later today as sports betting goes live in the US state.
William Hill-backed Monmouth Park racetrack will accept the first bets today from 10:30am EST, half an hour before the start of the World Cup opener between Russia and Saudi Arabia.
William Hill began building out its platform at Monmouth Park five years ago, and is believed to have spent millions in development costs.
As well as accepting wagers on the World Cup and US Open golf championship, which also starts today, Asbury Park Press reports that Monmouth Park and William Hill will also offer markets on Women’s National Basketball Association and Nascar races.
Hills will also offer two-way, three-way, first half and proposition bets on all World Cup matches at Monmouth Park.
The MGM Resorts-operated Borgata casino in Atlantic City will commence its own sports betting operation at around 11am.
Meanwhile, it has been announced that betting operators must pay at least $100,000 to operate in New Jersey.
New Jersey’s Division of Gaming Enforcement (DGE) has published temporary regulations, with permanent rules to be published in the next few months.
Initial licences will cost a minimum of $100,000 (€85,000), while casinos and racetracks will both pay 8.5% tax on gross revenues from sports betting. Casinos will also pay a 1.25% tourist tax, while tracks face an additional 1.25% to either the local municipality or the state general fund.
Regulators have also decreed that the maximum allowable wager will be capped at $5m.
Related article: New Jersey betting to commence for World Cup opener