A bill advising a vast expansion of the collegiate sports in New Jersey has recently come over the first obstacle as the state’s athletic gambling industry is continuing its national wagering breaking records.
The state’s sports-betting proponents are now looking to replace the sustaining prohibition on collegiate sports betting by involving local groups and teams in bids in the Garden State to boost the wagering activity further.
According to the existing framework for the state’s gambling regulation, any type of betting or gambling on collegiate games in New Jersey and gambling on games arranged in any other states that involve college teams of New Jersey is prohibited.
Against this current law, a new one is conspiring to form up as the state has raised a bill in the last month praying for a referendum to ask voters to support betting on the state’s college playoff and championship. The measure has been further amended the last Monday, demanding to allow betting even on regular college season games.
The bill has already undergone approval of the Budget Committee’s Senate and completed the initial stage. The bill is now waiting to be placed on the ballot 2021 and voted by the state’s residents.
The northern state’s representative, Sen. Paul Sarlo, has said that the lawmakers want a more wide-ranging college gambling bill, so they bring about the last updates to the measures. He thinks that if the law can come to light, it will generate necessary activity and betting volume. It will be helpful to back events such as the NCAA tournament.