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The New Jersey Division of Gaming Enforcement published the state's controversial sports betting regulations in the New Jersey Register on Monday, enabling gaming operators within the state able to apply for a $50,000 sports betting license beginning January 9th.
The adoption of sports betting by the Garden State could prove profitable for a gaming industry which has been suffering due to a weak economy and competition from neighboring states in recent years. Although the potential reward is high, the risk could be even higher, as the law is likely to be challenged in federal court as several major sports leagues have sued to stop the state from offering sports bets.
Under the law, Atlantic City casinos and state horse tracks may offer sports bets to gamblers as long as the games do not take place in New Jersey or involve New Jersey sports teams.