Book It: Sports Betting in New Jersey is Now in the Cards

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Eight to one. Those are the currents odds that the Philadelphia Eagles will repeat as Super Bowl champions.  If you like those odds and live in New Jersey, you will soon be able to put your money where your mouth is.  Yesterday, Governor Murphy signed A.B. 4111, which legalizes sports betting in the Garden State.

As we recently reported, both houses of the state legislature unanimously passed A.B. 4111 last week, and Governor Murphy’s signature was widely expected.  This move puts New Jersey on track to join Delaware, which is already accepting sports bets, and Pennsylvania, which is currently accepting applications for sports betting licenses.

In the coming weeks and months, the New Jersey Division of Gaming Enforcement will no doubt be implementing regulations relating to sports betting.  We will follow these developments, in New Jersey and in Delaware and Pennsylvania,  and we will provide updates when appropriate.  In the meantime, if you have any questions about how these recent developments in legalized sports betting in the tristate area may affect you or your business, we are here to help.  Please contact  Deborah A. Hays at (856) 354-3089, William J. Caruso at 856-673-3915, Anthony M. Fassano at 856-616-2618, or any member of Archer’s Business Counseling or Government Affairs Practice Groups in Haddonfield, N.J., at (856) 795-2121, in Princeton, N.J., at (609) 580-3700, in Hackensack, N.J., at (201) 342-6000, in Philadelphia, Pa., at (215) 963-3300, or in Wilmington, Del., at (302) 777-4350.

DISCLAIMER: This client advisory is for general information purposes only. It does not constitute legal or tax advice, and may not be used and relied upon as a substitute for legal or tax advice regarding a specific issue or problem. Advice should be obtained from a qualified attorney or tax practitioner licensed to practice in the jurisdiction where that advice is sought.