So the U.S. Supreme Court sided with New Jersey on Monday and ruled that sports betting is now legal across the country. But how quickly can you place your bets? Here's a closer look at that question and more:
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A man makes bets during a viewing party for the NCAA Men's College Basketball Tournament in Las Vegas in March. Sports betting is legal there.
It's a little complicated. But it could be by Memorial Day — at least at Monmouth Park. The racetrack in Oceanport announced Monday it plans to begin allowing sports betting within two weeks.That would be just in time for the NBA Finals and Stanley Cup Final. "It’s my intention, unless somebody stops us, to be up and running in two weeks," Monmouth Park operator Dennis Drazin said Monday. "If the Legislature or the governor says ‘slow down,’ I’m gonna listen to them."The question is if Monmouth Park has to wait for state lawmakers to set up regulations. Monmouth Park officials believes they don't.But even if they do, it might not be a long wait. State Senate President Stephen Sweeney told NJ Advance Media he hopes to have regulations in place by June 30.Joe Asher, the U.S. CEO of William Hill, the British bookmaker that Monmouth Park has partnered with, said in a conference call Monday the two-week window may be a bit premature. "But clearly we're thinking in the realm of weeks," Asher said. "We'll see how many that turns out to be."There's no timetable on Atlantic City casinos yet.
Photo by Keith Sargeant | NJ Advance Media for NJ.com
Right now, Monmouth Park is the only place in the state that has a sports betting parlor set up. William Hill spent nearly $3 million since 2013 building it there and providing the infrastructure needed to take in bets.Some Atlantic City casinos — including Borgata and the new Hard Rock — are also planning sports betting operations. But that may take some time to finish. Meadowlands Racetrack in East Rutherford has been waiting for a ruling in New Jersey's case.As for elsewhere? Regulations being considered by the state Legislature will limit betting to casinos, racetracks, and former racetracks in the state.
No. The Supreme Court isn't allowing just New Jersey to set up sports betting. It struck down a 26-year-old federal law barring such wagering in 46 states that don't already have it. Twenty other states — included Illinois, New York, Pennsylvania, and West Virginia — have either enacted or been considering legislation to set up sports betting.Daniel Wallach, a gaming and sports law attorney with Becker & Poliakoff in Fort Lauderdale, Florida, said a more narrow ruling would have been more beneficial for New Jersey. But the state has a jump because it's been planning this for years. "They still get a head start, and the head start could be significant," Wallach said.