New Jersey sports betting
Online sports betting has been experiencing a tremendous rise in New Jersey. It started in 2017-18 and sky-rocketed during the pandemic era. Residents from all over the state wanted to be able to gamble and bet on their favorite sports teams for quite a while. In addition, New Jersey realized that, under the right regulations, gambling could be very profitable for the local economy.
This brief will discuss all the legislation regarding New Jersey sports betting. It will also delve into popular online sportsbooks that operate in the state and other details.
Is it legal to bet on sports online in NJ?
New Jersey sports betting is completely legal, both online and at retail locations. The residents of the state can place wagers on most sports, bet on any kind of bet (futures, spreads, money lines, etc.), and enjoy bonuses and promotions by popular sportsbooks. However, the situation did not come easily, as it is a long process of efforts to make sports betting in New Jersey real. It started in 2011 with a referendum. During the following year, a law was passed that legalized sports betting but not fully. It was actually in December 2017 when the issue reached the US Supreme Court. The Professional and Amateur Sports Protection Act (PASPA) was the factor behind the delays of the full legalization. However, the act was found unconstitutional in 2018, so the process continued in full force.
In 2018, Governor Phil Murphy signed the sports betting legalization bill in NJ. That was for both retail and online sportsbooks. Regarding online bookies, the law regulated that they should have a land-based partner. In addition, each casino and each racetrack can operate up to three online sportsbooks under their license. The first retail sportsbooks opened in June 2018, and then online in August of the same year. In 2021, the state had an income of $740 million per month, except for July and August, which are generally slow months. The profits reached $1 billion in September, but the next month they were even bigger.
Best online sports betting sites in New Jersey
There are plenty of reputable online sports betting sites in New Jersey. As soon as the New Jersey sports betting market opened, the most popular sportsbooks joined it. Pillars of sports betting launched their retail and online sportsbooks and are still active today.
The best and most popular New Jersey sports betting sites are:
DraftKings New Jersey
If we had to make a top-three list of the sportsbooks in New Jersey, DraftKings would be one of them. It launched on August 1st, 2018, with a stylish retail store and a user-friendly website, and a user-friendly mobile betting app. Not much later, the bookie started looking for partnerships in the state. As it was the only sportsbook at that time, wanted to establish itself before other sportsbooks joined. Until today, DraftKings is one of the best places for online sports betting in New Jersey. There is a variety of betting options and promotions which make the bookie a popular place among bettors. The DraftKings sports list is also extensive, with bettors having the ability to bet on a wide variety of sports.
BetRivers New Jersey
BetRivers is rather new in New Jersey compared to DraftKings, for example, or FanDuel. BetRivers is available in New Jersey only in its online form. One of the most unique aspects of BetRivers is its reward system. The more you bet, the more points you collect, and you climb up the tiers. You can redeem them for special offers (the lowest tier) or luxury accommodation, VIP transportation to the sportsbook, etc (elite tier).
Caesars New Jersey
Caesars belongs to the family of the same-named casinos, with stores all around the country. The brick-and-mortar bookie is always inside the casino. Thus, it was not a problem for the bookie to get a license. It first launched on July 30, 2018, and has been going strong ever since. Many New Jersey residents prefer it to other bookies because of its prestige. Caesars is one of the oldest sportsbooks in the US. Its online presence is just as strong. The Caesars Sportsbook app and website are easy to use. The slick design and fast navigation make it very attractive to new bettors.
SugarHouse New Jersey
This bookie is BetRivers’ sibling for New Jersey sports betting. Both of them belong to Rush Street, a giant in the gambling and entertainment industry. SugarHouse Sportsbook launched in August 2018 in New Jersey. Ever since it has been an opportunity for the state’s residents to go back and forth between the sportsbook and the casino. As an affiliated company, SugarHouse is very similar to BetRivers. It has a rewards system, called iRuch, which works in the same way as BetRivers’ royalty program by giving gifts to the regular bettors. Its app is user-friendly, but there have been complaints about the website.
FanDuel New Jersey
DraftKing’s counterpart launched on July 14, 2018, in NJ. It was then it opened its doors to the first bettors. A couple of months later, FanDuel launched its app too. The popular sportsbook has partnered up with the New Jersey Devils and NHL. FanDuel has a big variety of sports or betting options, along with a streamlined app and website. FanDuel also offers the option of a same-game parlay. This wager type allows you to build a ticket of bets coming from the same game. FanDuel sportsbook is in the top ranks of New Jersey sports betting. Every year, more customers visit its retail location, and even more, register to bet online.
BetMGM New Jersey
The popular bookie, owned by MGM Resorts International, entered the New Jersey market much later than the rest sportsbook. It opened its doors in August 2019. However, it managed to become one of the best sportsbooks in New Jersey. Moreover, in February 2022, BetMGM announced its big partnership with SportsGrid. BetMGM is a sportsbook that is popular both because of its retail store and the website and app. It is more of a luxury online sports betting experience due to the layout and attention to detail in its design.
BetMGM offers competitive and enhanced odds for wagers. In addition, there are a variety of different betting options and a respectable sports list.
Unibet New Jersey
Kindred Group’s flagship, Unibet, was another sportsbook to join the New Jersey market rather late. Just like BetMGM, it opened its first retail sportsbook in 2019, and three months later, it launched its online version too. Unibet is not as stylish as the rest of the sportsbooks on the list. However, it is one of the best sportsbooks in NJ because of the ease of use of the app and the website. Unibet is for bettors who want something simple. It isn’t as stylish or polished; it is mostly minimalistic. Yet, the betting experience is smooth and fast. Unibet is a good sportsbook to start if you want something quiet and less frantic.
Do you need to pay taxes on sports betting wins in NJ?
Yes, you need to pay taxes on sports betting wins in New Jersey. Any profit from sports betting counts as income, so it should be reported on the tax return. The percentage of the tax varies depending on the amount of the winnings and on how you have earned the money. The average percentage is 8% for any amount that exceeds $10,000.
Who regulates sports betting in New Jersey?
The New Jersey Division of Gaming Enforcement regulates all gambling activity, including New Jersey sports betting. The carrier is the one who gives out the licenses. Therefore, any sports betting website in New Jersey with a license from the NJ Division of Gaming Enforcement is legal. In any other case, the site should not be trusted.
Since the carrier is official and set by the NJ government, it runs all necessary safety controls to make sure that sportsbooks operate following the stated regulations. In addition, it makes sure that every bookie is a safe and private online place. Thus, it performs checks and controls to ensure that the bettors’ personal and banking information is secure and private.
Retail sports betting locations in New Jersey
If you feel like online sports betting in New Jersey is not for you, or you simply want to know another side of it, it is a good idea to visit a retail store. So, here is a list of retail sportsbook locations in New Jersey: