In June, the state assembly approved a companion bill unanimously. The competitive eating contest, wagering, tourism, and sports betting would be allowed by this new Jersey Bill.
Including any contests like competitive eating contests, award competitions, or any other skill-based competition would reduce the term sports event’s importance and definition.
Betting on Oscars has already been permitted by New Jersey before, but it requires the special privilege from the DGE (Division of Gaming Enforcement). The practice of wagering on other skill-based attractions and the award ceremony would legalize and officially codify the legislation.
Controversy on Oscars
Betting on Oscars is not permitted in most states which regulated sports betting. Betting on Oscars is controversial because before declaring the public’s results, the product already known by a few groups of people. Knowing the product already by a small group of people may create the possibility that there would be manipulation in the result.
It seems that a competitive eating contest is practically incorruptible.
The bill stipulates a tricky idea to avoid the cheating that wagers cannot put more than $100 for betting, and $500 is the winning limit, and you can try whichever is more significant to you.
A way to protect sportsbooks from fraud is to keep the limit low as a safeguard.
Esports Age Limit
In September Last year, New Jersey Sportsbooks has permitted the bill’s second part about esports betting. The account is about to address the underage player’s prevalence in different competitive video gaming.
High school sports events are prohibited, and they cannot do betting according to the existing law. The bill has expanded. The bill bans wagering on the competition under the age of 18.
In the video gaming community, the trend and participation of younger competitors are growing; thus, the bill clarifies the age limit in certain sports.
In lockdown time, the trend of betting on Esports increases significantly.