Online Sports Betting in New Jersey
With the coronavirus pandemic still raging and keeping people indoors and restricted, many of the country’s brick and mortar gambling and betting establishments in such areas as Las Vegas and Atlantic City have been closed for business for a while.
One bright spot for many is the availability of NJ online sports betting sites. Granted, sportsbooks at the moment do not offer as much as they typically would given that most professional sporting leagues are still on hold.
However, betting fans have never been more thankful for the internet and for online New Jersey sportsbooks.
New Jersey, the numbers when it comes to online gambling, in general, show just how much action sites have seen over the past few months.
New Jersey: monthly sports betting handle 2018-2020
|Month||In Million U.S. dollars|
The Division of Gaming Enforcement (DGE) released the New Jersey online sports betting revenue for April, revealing that the sports wagering gross revenue was $2.6 million for the month.
With such numbers being moved even with the social distancing and most live sports leagues still on a break, one can forgive online betting fans and curious beginners in New Jersey for wanting a comprehensive review of the landscape in the state.
Here is an overview of how things stand.
Is Sports betting legal in NJ?
Legal online sports betting is possible in New Jersey.
The first step when considering betting online anywhere in the US is to find out whether anyone can legally do so.
New Jersey has a special place in the hearts of online sports betting fans in the US.
It all started when Rudy Garcia, former mayor of Union City, went to place a bet with his bookie and got caught up in an FBI sting.
He was arrested and charged, but the charges were later dropped.
When his friend and law partner Ray Lesniak heard of the story, he was appalled that one could be arrested for doing something in New Jersey that they could legally do in Vegas.
He was a state senator at the time, and he decided to do something about it.
Lesniak pushed for the passing of an amendment to the New Jersey constitution that would allow the passing of a law legalizing sports betting.
He then went to court against the four major sporting leagues of the NCAA, which had filed lawsuits to uphold the federal ban on sports betting.
What followed was a protracted battle in court that lasted years, eventually being decided in May 2018. The US Supreme Court overturned the Federal Professional and Amateur Sports Protection Act of 1992, terming it unconstitutional.
Following this victory by New Jersey, any state can now legalize sports betting.
In New Jersey, the governor Phil Murphy signed into law the sports betting bill on June 11th, 2018, and was one of the first in line to place a wager days later.
Online sports betting in New Jersey, therefore, perfectly legal in New Jersey, with one able to bet both in person and on their phones.
However, there are notable exceptions to the rule.
For instance, one cannot bet on games that involve in-state high school or college teams, or on collegiate events that are held within the confines of the state.
How to Sports Bet in NJ?
The rules of the game
Sports betting is relatively easy, but there are real risks involved. Like any other form of gambling, there is a real risk of losing money, especially if one does not plan adequately.
The first step is to identify a sports competition or match to wager on.
For a better chance of winning, make sure you understand the game, the rules, the players, and their relationship going into the match. Understand who is favorite to win or who is the underdog.
Armed with the knowledge of the game, the next step is to understand the kinds of wagers available.
If you are a seasoned bettor, you are likely to know what a point spread wager is, or the difference between a prop and totals wager.
For the beginners, one will not even have realized there are so many options available to them.
The bottom line is that one must not put their money on a betting option or wager they are not familiar with.
The options vary from one sport to the next, but here are some of the basics you might want to try as a beginner.
The simplest is the moneyline, also called the straight or the win bet.
The moneyline is the traditional bet where one puts their money on one person or team to win outright.
In soccer, moneyline bets also contain the draw option, where one puts their money on a draw, betting on the points being shared equally at the end of the game.
Point spreads are another popular type of wager, especially in football and basketball.
Some people in the US also refer to these bets as straight bets, so be careful to understand and not confuse these with the traditional win bet.
Here, things are slightly different as one does not bet on a team or person to win, but on a participant to ‘cover the spread.’
Here, the favorite has their points ‘deducted’, effectively starting the game with a points deficit.
Backing the favorite to win means backing them to win by a margin greater than the size of the spread-the points deficit deducted.
The bookmaker typically creates the spread. Handicap betting also works the same way but is mainly used in soccer.
Other popular wager options are the prop bets or specials, and the totals or overs/ unders.
For the totals, the sportsbook would normally set a line for a total number of points or goals that would be scored during a game.
They then give the individual the option of betting on whether the actual total in the match will be higher (over) or lower (under).
The prop bets, also referred to as specials or proposition bets, are much more specific and are often placed more for fun than anything.
These are bets that do not necessarily have a direct impact on the outcome of the game, like betting on a certain player to score a point or goal, betting on the time when the first goal will be scored, which team will win the coin toss, or whether one player will score more points than the other.
NJ Online Sports Betting Odds
Another thing one must learn when betting online is how to calculate the odds.
Odds basically tell the bettor how much they stand to win, given the stake they have placed.
The odds also give an indication of the likelihood of an event happening.
The rule of thumb is that high odds mean something is unlikely to happen, and low odds mean an event is more likely to happen.
There is a lot more to learn about odds, though.
For instance, they are arranged in different formats. Any quality online sportsbook will have all the three basic options, the fractional odds (British), the American moneyline style, and the European fractional style.
When evaluating odds, one should note that wagers can have prices that are odds on or odds against.
Odds on means the total amount one can win will be less than the amount they have staked.
Odds against means the amount they can win will be higher than the amount they staked.
Even though the sportsbooks will always tell you how much you stand to win, it is important to understand how the potential winnings are calculated.
Decimal odds are the easiest to understand, with the potential payout simply the amount staked multiplied by the odds.
The moneyline odds can be positive or negative.
If you have a +150 odds and wager $100, you get a $150 winning, and get back the wager, making the total payout $250.
Negative odds here show how much one needs to stake to win $100.
For instance, -120 odds would require a wager of $120 to win 100. This, combined with the $120 stake gives a payout of $220.
For the fractional odds, each fraction shows the potential profit. All this seems complicated and overwhelming, but you will learn with time and practice.
The final and perhaps most crucial step is to choose where to bet.
As of May 2020, there were about 17 online sports betting sites in New Jersey.
Different sportsbooks offer different introductory offers and bonuses for the beginner depending on the sport.
Online sportsbooks do not affect the outcome of the match, but they change pretty much everything else, including the size of the payout if you win.
Top 4 Sportsbooks by Revenue & Tax ($) March 2020
|Resorts/ DraftKings Sportsbook/ Fox Bet||5136690||667770|
|Meadowlands / FanDuel Sportsbook / PointsBet||5676337||739072|
|Monmouth / William Hill NJ / SugarHouse / theScore Bet||849236||110401|
|Ocean Resort / William Hill NJ||635620||82631|
Choose an online sportsbook that is mandated to operate in New Jersey, one whose platform offers a seamless betting and user experience, is easy to navigate, and offers you the most lucrative bonuses.
If you are a New Jersey sports fan who cannot wait to get the action back, online sports betting is one of the ways you can get keep the adrenaline pumping. Try out online sports betting today.