When Did Sports Betting Grow to be Legal in NJ Mets 92

When Did Sports Betting Grow to be Legal in NJ? Mets 92

9 years ago, New Jersey voters passed a referendum to amend the state constitution to allow sports betting. The amendment, which passed by a vote of 53%-47%, permits sports betting at casinos and racetracks, beginning as soon as January 2010.
So when did sports betting actually become legal in NJ?
It was January 2010 when Governor Jon Corzine signed the law legalizing sports betting in Atlantic City casinos and racetracks. There were some delays in implementation, but actual wagering began on November 14, 2012.

Mets Became the First Team to Benefit from NJ Sports Betting

The New York Mets are the first team to benefit from NJ sports betting. This is after they were able to secure a $225,000 payout on a $5 wager at the Borgata casino in Atlantic City. This is according to the records of William Hill US, the Nevada-based bookmaker which operates in New Jersey.

Interestingly, this is not the first time that the Mets have won big from a sports bet. In fact, in 2015 they managed to win $1 million from a $2 bet on the Kansas City Royals winning the World Series. The odds on that particular bet were 500/1.

It is not clear as to why the Mets have been so successful when it comes to sports betting, but it could be something to do with their underdog status. In fact, their victory over the Baltimore Orioles was only their second win in their past 10 games.

This latest success for the Mets is likely to lead to an increase in sports betting on baseball, as well as other sports. It also shows that there can be value in betting on individual games, rather than just betting on who will win or lose a series.

NJ Sport Betting: Mets, Yankees Both Benefit

The Mets and Yankees each had something to smile about on Tuesday, as news of the pending legalization of sports betting in New Jersey started to circulate.

Mets’ fans were celebrating the news that their team is expected to be a big beneficiary of the new law, which is set to go into effect in late January. The Yankees, meanwhile, are expected to see a windfall thanks to their investment in 1xBet, one of the largest online sportsbooks in Europe.

The 2017 season saw the Mets post a losing record at home (28-43), while the Yankees were one of the best teams in baseball on their home turf (47-24). With sports betting now legal in New York, those numbers could quickly change.

Just how much money is at stake? A 2013 study by Las Vegas-based research firm Eilers Research estimated that $2.3 billion was wagered on New York sporting events illegally in 2012. If just a fraction of that money shifts to legal bets, it would be a boon for both the Mets and Yankees.

Industry experts believe that states with legalized sports betting will see an increase in tax revenue as well. In New Jersey, for example, taxes on gambling are expected to bring in an additional $13 million per year. That money will help support New Jersey’s ailing budget, which has been hobbled by years of economic mismanagement.

Governor Phil Murphy, who campaigned on legalizing sports betting, called the news “a great day for New Jersey.” He added that the new law will create jobs and allow “Atlantic City to compete with Las Vegas and other gaming destinations around the world.”

While there is no question that the legalization of sports betting will benefit New Jersey as a whole, there is some debate over how it will impact Atlantic City specifically. Once America’s premier casino destination, Atlantic City has been in decline for years as Pennsylvania and other states have opened up their own casinos.

With sports betting now legal in New Jersey, some experts believe that Atlantic City can make a comeback as a gaming destination. Others are not so sure. They argue that most of the action will take place online instead of at casinos, which could further erode Atlantic City’s business base.

How Did New Jersey’s Sports Betting Affect the Mets?