Bill > S3113

This bill permits casinos and racetracks in New Jersey to operate sports pools, allowing for wagering on professional and collegiate sports or athletic events, with certain exceptions for "prohibited sports events" which include collegiate events in New Jersey or those involving New Jersey college teams. Operators, defined as licensed casinos or racetracks offering sports pools, must establish a "sports wagering lounge" and will be regulated by the Division of Gaming Enforcement, which is responsible for issuing licenses and overseeing operations, similar to how other casino games are regulated. Wagers can be placed in person at the lounge or remotely via electronic devices or the internet by individuals at least 21 years old and physically present in New Jersey. Employees involved in wagering activities must be licensed or registered, and operators must maintain financial stability and adhere to specific regulations regarding cash reserves, wager limits, and record-keeping. Revenue generated from sports pools will be subject to taxation, with a portion dedicated to compulsive gambling treatment and prevention programs. The bill also amends existing laws to include sports pool revenue in the definition of "Gross Revenue" for casinos and clarifies that sports wagering lounges may be located within casino simulcasting facilities.