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Bill > S492
NJ S492
NJ S492Permits wagering at casinos in person and through an account wagering system on certain professional and collegiate sport or athletic events.
summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
2010-2011 Regular Session
Bill Summary
If approved by the voters at a referendum held at the next general election, this bill would allow licensed casinos in Atlantic City to conduct in-person wagering, and wagering through an account wagering system, on professional and collegiate sport or athletic events under regulation by the New Jersey Casino Control Commission. Wagering on sports events, as defined by this bill, would not include wagering on any amateur non-collegiate sport or athletic event, or any event, regardless of where it is held, involving a professional or collegiate team whose home field, court, or base is in New Jersey, or any event played in New Jersey involving a professional or collegiate team. Wagers on a sports event could only be placed in-person in a casino sports wagering lounge, or through an account wagering system available only to registered State residents. Sports wagering gross revenue would be subject to the existing 8% casino gross revenue tax, the proceeds of which are dedicated to programs for senior citizens and disabled residents, and the investment alternative tax, which results in the investment of 1.25% of gaming revenue in community and economic development projects across the State.
AI Summary
This bill, if approved by voters, would allow licensed casinos in Atlantic City to offer sports wagering, both in person at a "sports wagering lounge" (an area within the casino) and through an "account wagering system" (using technology like phones or computers for betting). This system would only be available to registered New Jersey residents and its components must be located within the state. The types of events that can be wagered on include professional and collegiate sports, but exclude amateur non-collegiate events, and any events involving New Jersey-based professional or college teams, or any events played within New Jersey involving such teams. The bill also clarifies that the revenue generated from sports wagering, referred to as "gross revenue," will be subject to the existing 8% casino gross revenue tax, which funds programs for senior citizens and disabled residents, and an investment alternative tax that supports community and economic development. The New Jersey Casino Control Commission, the regulatory body for casinos, would oversee and regulate these sports wagering operations.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Withdrawn from Consideration (on 01/19/2010)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| Bill | https://www.njleg.state.nj.us/2010/Bills/S0500/492_I1.HTM | 05/28/2012 |
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