Technically it's still not legal to bet on sports in New Jersey, however the state has just legalized the next best thing that still gives you a way to profit from your football, baseball, soccer, and basketball knowledge.
As of July 2017, you can legally win cash from your sports picks on either daily fantasty sports sites like FanDuel.com and FantasyGrinders or you can join the all new FastPick.com.
On FastPick.com, instead of fighting your way against sharks with computer algorithms, salary caps, and tournaments, you can simply pick your favorite 3-10 players in head to head point matchups and if your players win, you can win real cash, anywhere from $50 up to $250,000.
The product, FastPick, is a house-banked fantasy sports parlay game that is the closest thing to sports betting available outside of Nevada.
FastPick will first launch on a standalone website - www.FastPick.com and then it will evenutally be integrated into Resorts online casino and the ResortsAC iGaming Lounge.
Resorts AC will be adding a cashier cage and new video screens for FastPick players.
New Jersey is the centre of the future of legal sports betting in the United States.
In the year 2014, the state passed a law that allows sports betting within the state’s borders, but legal challenges have kept it from taking effect. The case could be taken into consideration by the US Supreme Court in 2017.
The state lost its appeal in 2016. Here’s a look at the background of sports betting in New Jersey.
The New Jersey sports betting case rehearing took place on February 17, 2017 at 11 a.m. local time.
This hearing was the second time the court heard the case. With nine judges siding against the state, New Jersey lost for the second time in this court.
The case was considered again by a panel of three judges in August of 2015, and New Jersey lost 2-1.
The petitioners in the case are the North American sports leagues — the NBA, NFL, NHL and Major League Baseball — along with the U.S. Department of Justice and NCAA.
The state has now appealed the case to the Supreme Court, which will decide whether to hear the appeal in 2017.
To allow wagering to take place in the state, New Jersey had passed a law to partly repeal its own sports betting ban. The leagues then joined hands to challenge the law in court.
The courts have ruled that the New Jersey law that allows sports betting is a violation of Professional and Amateur Sports Protection Act of 1992.
New Jersey requested an “en banc” rehearing, after the August defeat.
There was no dismissal of the request at the first. The plaintiffs, major professional sports leagues in the U.S., the NCAA and the Department of Justice were asked by the Court to respond to the petition of the New Jersey. The NFL and other leagues in their response said that there was no conflict to address in the wake of a dissenting opinion on the original appeal.
The rehearing of the case was demanded by New Jersey.
A law regulating sports betting in the state was passed by New Jersey in 2012. On which, a suit was filed by the sports leagues. Under PASPA, New Jersey lost the case. As per the Third Circuit opinion, the regulation of the sports betting could not be allowed, but decriminalization of sports betting could be allowed.
Starting with the 2017 NFL season, visitors to Atlantic City, NJ will finally be allowed to win cash from their sports picks. They can do it online today at FastPick.com and in Atlantic City, only at the Resorts AC iGaming Lounge.
When Football season starts, the iGaming lounge will feature:
Take Aaron Rodgers to score more fantasy points than Matt Ryan, Julio Jonesto top Antonio Brown and Ezekiel Elliott to best DeMarco Murray, and you've got a three-leg parlay that pays up to $60,000.
Feeling a little riskier? If you put down $200, on a 10-leg parlay across multiple sports, you have a chance to win the $100,000 jackpot. (500-1 payout)
Technically, traditional "sports betting" is still not legal in NJ - so basically, you can legally make a pick for cash as long as the win is based on 3 or more sport event outcomes. Traditional sportbetting, like the one you can do in Nevada, would allow a person to bet on any one specific outcome (i.e. Warriors vs. Knicks w/ spread).
A growing opportunity
All eyes, from Las Vegas to the Caribbean, are set on the American point-spread betting pie and its legalization out of Nevada. The endgame is in sight for international bookmakers and U.S. gaming powerhouses.
Bookmakers pointed out that point spread in football and basketball games overshadow other wagering options like money lines, over/under and props. In 2016, $4.5 billion was bet at Nevada's regulated sportsbooks, where football and basketball -- the two sports most conducive to point spreads -- accounted for better than 65 percent of the overall handle.
Barring Nevada, the only legalized betting state, the unregulated betting is the big fish in the pond. The American Gaming Association puts the estimate up to $150 billion annually, but others speculate it to be even higher, as it is difficult to verify the unregulated data that is fueling the black sports betting market.
But until and unless the federal restrictions are lifted, the exact count cannot be deciphered as to the value and the volume of betters. All this while though, the betting outside Nevada will flourish, illegally whether be it fantasy or betting.
Fantasy sports have come a long way
Fantasy sports, as mentioned above, has come of age. Tracing back to 1970’, this was just a pad-and-pencil rotisserie baseball and fantasy leagues. The most sought-after commodity being Monday’s Newspaper with box scores, cash, novelty trophies and bragging rights were at stake, for the entire season. A much simpler time than what it is now.
Daily fantasy companies FanDuel and DraftKings exploded in 2015, with a massive advertising blitz. This actually brought the scrutiny radar over fantasy sports and eventually forced it shut. By that time they had become billion dollar companies. Awaiting federal restrictions scrap-off, they are mulling over a merger and taking fantasy sports to all new levels.
On April 11, Arkansas became the 11th state to pass fantasy sports legislation, and the ninth in the last two years. Legislation is pending in several more states, and many in the industry envision more than half the nation offering and taxing regulated fantasy sports in the coming years.
The federal law of 2006, Unlawful Internet Gaming Enforcement Act (UIGEA), is the basis for the new fantasy sports law and regulations. It strictly enforces that the games must not consider processing payments as "bet or wager”.
The only clause that hasn’t been adhered to is – “No winning outcome is based on the score, point spread”
"That does really seem to be the line," Mike Knapp, co-founder and chief operating officer of USFantasy Sports, told ESPN. "You can't bet on the final score or the point spread or just one player." Offering a pari-mutuel form of fantasy sports, USFantasy is a new entrant, looking to expand its footprint in the U.S.
FastPick.com is another game toeing that line. Soon, a stand-alone website will be launched, which would be integrated with Resorts’ online casino post approval from New Jersey Division of Gaming Enforcement. Eventually, over-the-counter transactions would commence to give you a feel of Las Vegas.
The simple reason being - "We wanted to get something as close to a traditional single-game play as we [could], but still have it be compliant with fantasy rules," said Joe Brennan, CEO of Washington, D.C.-based SportAD, a venture capital-funded company that produces FastPick. "I think this is as close as you can get right now."
In game, peer-to-peer prediction contests, are a hit favorite. NBA for instance, in partnership with FanDuel, is giving a chance to test prediction skills and win $35,000 for Autotrader in its InPlay playoff contest.
For now, though, traditional, season-long fantasy, as it has for decades, owns the largest player base and still has a significant edge over the daily version in the U.S., according to industry experts.
Peter Schoenke, the chairman of the Fantasy Sports Trade Association, told ESPN, that the money coming through season-long fantasy is totally different than the daily fantasy league. This, he adds, is primarily because the companies don’t get this money directly. The unregistered users on ESPN do not pay money, rather the money comes in through advertising and sponsorship deals.
“This money added up, still dwarfs the daily fantasy”, adds Peter. "From my perspective, season-long is doing really well. It still grows. It still has tens of millions of users and is still growing in every sport. We don't need to breathe life into it."
The bigger concern however is that the American culture is already ingrained with this concept of Fantasy sports betting, despite it being legalized in the vast landscape. This is a weird situation altogether as this is not the case elsewhere.
It is yet to be determined whether fantasy sports and traditional sports betting can thrive alongside each other.
The wait for legalization
Many states are up for a legalized sports betting environment like Las Vegas. As for New Jersey, the fight is now on the supreme court, for lifting the sanctions on sports betting. Several other states are looking to move in the same direction once the case for New Jersey is successful.
A couple of sports betting bills have been introduced, according to a Congress source. Moreover, a third bill is in the process of making and being introduced soon. A lobbying group has formed between Nevada casino and bookmaking giants with the help of AGA, to fight for the legalization of the sports betting in front of President Donald Trump, who was a former casino owner himself.
Major players like NBA, Major League Baseball, PGA, and MLS are of the opinion that it is a complex battle altogether and will take some time to be won over. Also, they are of the opinion that a fresh approach to legal sports betting is worth considering. This thought is being opposed by players like NFL and NCAA.
"My 'when,' I think, probably has a longer timeline than a lot of people," Miller told ESPN in a phone interview. "I just don't see it as imminent judicially or legislatively, but I think what will happen is that daily fantasy will just be folded in as one form of sports betting. I really don't see DFS being threatened by [expanded legal sports betting]. I just think [DFS will] be brought within the framework."
The U.S. Supreme Court is yet to decide the New Jersey’ sports betting case, so for now, only daily fantasy sports, and sites like FastPick are legal in NJ. Murphy, the Boom Fantasy CEO believes that many DFS fans may drift away to traditional sports betting if it is legalized.
"So, if there is actually legalized online sports betting, I think you'll see some of their users just choose that."
Some in the industry remain confident in the staying power of daily fantasy, even in a theoretical world that includes widespread legalized gambling.
On the contrary, Matt Primeaux, CEO of StarsDraft by PokerStars, told ESPN that he believes that the existence of both traditional and fantasy leagues would allow more players to get associated with the sports without worrying about the legality or fairness of the game. He also believes that if implemented correctly, both the versions will work as complimentary products rather than one subsuming the other in the run to dominate the market.
An exciting concept of hybrid sports bar/nightclub with competitive esports setups is on the anvil with the line between fantasy league and traditional sports betting getting blurred. In addition to this, more fantasy sportsbook such as iGaming lounge at Resorts Casino in Atlantic City will come up inside casinos, racetracks and off-track betting venues in varying states. There might be players who try to emulate the Las Vegas sportsbook experience too but at a much smaller scale.
Brennan also pointed out that there is a big opportunity for fantasy sportsbook type spaces. These spaces might be at the casino, at the track or OTB. “This, he added, is a part of the cultural DNA of the sports betting public already, in the U.S”.
The following are the questions and answers in the context of NJ sports betting case:
Who could offer New Jersey sports betting online?
The winning of the case by the New Jersey will ensure offering of sports betting by any racetrack or casino in the state. This will include all of the three racetracks: Monmouth Park, The Meadowlands, and Freehold and the licensed properties in Atlantic City.
At the outset, when the law was passed, sports betting was introduced by the Monmouth Park. The win of New Jersey will make sure that all of the gaming establishments in the state will offer to wager in the long run.
Could this Legalize Real Online Sports Betting in NJ?
New Jersey is offering some form of online gambling and is one of the three states in this area. Since November 2013, NJ poker sites and online casinos have been operating.
The future of the U.S. sports betting sites is uncertain in the context of its launch as rapidly as land-based sportsbooks, although their calculated results are on a positive side.
Is there still any chance of sports betting if New Jersey loses?
The repealing of the Federal Law, Professional and Amateur Sports Protection Act by the Congress would be the only way for states to allow sports betting, after the recent loss for New Jersey. The New Jersey case is centered on the above law.
Various laws have been passed as regards to daily fantasy sports, resulting in PASPA challenges.
The introduction of the new bill by the State lawmakers would permit sports betting all over the State. However, the prospects of sports betting are dark.