Bill > S2460

This bill repeals existing state laws and regulations that prohibit or require licensing for sports wagering, specifically allowing casinos in Atlantic City and horse racetracks in New Jersey to accept bets on professional, collegiate, or amateur sports contests or athletic events from individuals aged 21 and older, provided the operator of the casino or racetrack consents. The bill clarifies that "collegiate sport contest or athletic event" excludes events taking place in New Jersey or those involving New Jersey college teams, and defines "running or harness horse racetrack" as the physical facility where pari-mutuel wagering occurs. It also amends the definition of "Gross Revenue" for casino licensees to exclude revenue from sports pools, aligning with the intent to repeal prohibitions rather than actively sponsor or authorize sports betting. This action is taken in response to a court ruling that indicated states are free to repeal their bans on sports wagering.