New Jersey Gov. Philip D. Murphy on Monday signed Assembly Bill 4111, which legalizes sports betting at N.J. casinos and racetracks for certain pro and college sports.
What the bill does
Assembly Bill 4111 allows licensed casinos and racetracks to accept bets at a sports wagering lounge on its location and permits places to petition to operate temporarily while it builds one.
In 30 days, licensed casinos and racetracks can begin operating an online sports pool.
Bettors must be 21 years old or older, and it prevents athletes, coaches, referees, et al. with potential influence from betting on events overseen by the league they're affiliated with.
People cannot bet on college events happening in New Jersey or involving New Jersey teams.
Where and when can I bet?
Monmouth Park Racetrack in Oceanport will accept the first legal bet Thursday at 10:30 a.m., according to NBC10.
While it's not official, Borgata Hotel Casino & Spa in Atlantic City is also expected to begin accepting wagers Thursday as well.
Per the Press of Atlantic City, the Ocean Resort Casino, which opens June 28, plans to build a sports betting lounge.
According to Politico, Assembly Bill 4111 will allow a former racetrack located at Towne Place at Garden State Park to take bets despite there being no plans of hosting horse racing there again.
How did we get here
The Supreme Court on May 14 ruled 6-3 to override a 1992 federal law - Professional and Amateur Sports Protection Act (PASPA) - that prohibited sports gambling outside of Nevada.
Delaware became the first U.S. state to legalize sports betting after the ruling. It went live June 5 and NBC Sports Philadelphia's Rob Ellis spent the first day at Delaware Park Racetrack and Casino (see story).
N.J. State Legislature voted to pass Assembly Bill 4111 last Thursday and Gov. Murphy signed it four days later.
What it means for New Jersey
The legislation is projected to raise $13 million in state tax revenue in the first year, according to Gov. Murphy's office.
"Today, we're finally making the dream of legalized sports betting a reality for New Jersey," Gov. Murphy said. "I'm thrilled to sign Assembly Bill 4111 because it means that our casinos in Atlantic City and our racetracks throughout our state can attract new business and new fans, boosting their own long-term financial prospects. This is the right move for New Jersey and it will strengthen our economy."