New Jersey Online Sports Betting Guide 2024
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Online sports betting is fully legal in New Jersey, making the state a thriving hub for gambling activities. Known for its top-tier casinos and sportsbooks, New Jersey offers extensive options for both retail and online betting enthusiasts.
To make informed wagers, it’s crucial to understand the nuances of New Jersey’s sports betting landscape, and that’s why we’re here!
🔑 Key Takeaways
- Discover the laws and regulations around sports betting in New Jersey
- Explore the best online sportsbooks in New Jersey
- Find out the latest news in New Jersey’s sports betting industry
Top New Jersey Sports Betting Sites and Apps
New Jersey boasts 14 legal online sportsbooks. With more than a dozen providers approved by the state, you’ll have no problem finding the right online provider no matter what market you are looking for.
Here is our top 5 list:
Is Online Sports Betting Legal in New Jersey?
Yes, online sports betting is legal in New Jersey! In fact, the Garden State is home to some of the best gambling laws and providers in the United States.
In 2018, following six years of legal sparring over the creation of online and retail sports wagering, New Jersey sports betting laws were finally changed in favor of bettors. The decision was signed on June 11, 2018, by then-Governor Phil Murphy.
The governor placed the very first sports bet just three days later too at Monmouth Park Racetrack. New Jersey’s 2018 law is known as the Sports Wagering Law, P.L. 2018, c. 33.
Quick Facts About New Jersey’s Sports Betting Laws
| Legal Sports Betting Launch Date | June 11, 2018 |
| State Regulator | Division of Gaming Enforcement (DGE) and New Jersey Racing Commission (NJRC) |
| Legal Age | 21+ |
| Number of Licensed Bookmakers | 14 |
| Retail Betting | ✅ |
| Horse Racing | ✅ |
| Daily Fantasy Sports | ✅ |
| eSport Betting | ❌ |
| Tax Rate | Ranging from 1.4% to 10.75% |
| College Sports Betting | Bets on in-state college teams or events taking place in NJ are not legal; same goes for college prop bets. |
How to Bet on Sports in New Jersey
Betting on sports in New Jersey is straightforward. Follow this step-by-step guide to get started:
1. Select a Reputable Sportsbook: Choose a licensed and regulated bookmaker in New Jersey, considering both online and retail options.
2. Register and Verify Your Account: Sign up for an account and verify your identity, either online or in person, using your state-issued ID.
4. Check Promotions and Bonuses: Before depositing funds, review available sports betting bonuses and promo codes, such as free bets or cashback offers, to enhance your betting experience.
5. Fund Your Account and Place Your Bet: Deposit money into your account, select your preferred sports or events, enter your stake on the bet slip, and confirm your bet.
You’ve just made your first sports bet in New Jersey. Congratulations!
Popular Sports and Teams to Bet on in New Jersey
Sports betting in New Jersey is vibrant, with football, soccer, basketball, and golf being particularly popular.
Interestingly, New Jersey shares many of its professional teams with New York due to the metropolitan area covering both states. This includes the following teams:
- NFL: New York Giants & New York Jets
- MLB: New York Mets & New York Yankees
- NBA: Brooklyn Nets
- College Sports: Rutgers University
With so much attention devoted to New Jersey’s most popular sports, it should come as no surprise that team performance has a big impact on betting trends.
Without the wins and strong performances of the Yankees, their odds would drop significantly, and betting on the team would shift fundamentally. If they begin losing games, the favorable odds will change, and betting in the state will favor another team.
That’s why it’s important to pay attention to New Jersey sports betting news so that you always have the latest information before you bet.
Are There More Gambling Options in New Jersey?
There are many gambling options in New Jersey beyond sports betting. Casino gambling, particularly in Atlantic City, horse racing, and the New Jersey Lottery are some of the most popular.
Casino Gambling
Casino gambling is one of the most successful forms of gambling in New Jersey. In 2023, its gross gaming revenue amounted to $5.78bn! That translates to $1.9bn in annual taxes, making it one of the most successful states in the country for gaming revenue.
Horse Racing
Horse racing is common in New Jersey, with Monmouth Park serving as perhaps the most popular racetrack in the state. Bettors can place bets both online and in in-person sportsbooks.
Daily Fantasy Sports
New Jersey residents can legally engage in DFS contests on platforms like DraftKings, FanDuel, and Underdog, all regulated since 2017. DraftKings and FanDuel are particularly popular, offering substantial prize pools.
Retail Sportsbooks
New Jersey features numerous retail sports betting locations at racetracks and casinos, with Bally’s Atlantic City FanDuel Sportsbook, Caesars Atlantic City Sportsbook, and Freehold Raceway among the most popular. Bally’s Atlantic City is especially favored for its vibrant environment and atmosphere.
Lotteries
New Jersey is home to many lotteries, referred to collectively as the New Jersey Lottery. Among these, the New Jersey Powerball and Mega Millions jackpot are among the most popular. Both were won in 2024 for an estimated $221m and $1.13bn, respectively.
Tips and Strategies for New Jersey Bettors
Maximize your betting success in New Jersey with these essential tips and strategies:
- Conduct Thorough Research: Avoid betting based solely on team loyalty or sentiment. Instead, research a team’s past performance and projected odds to make informed decisions.
- Set and Adhere to a Budget: Determine a betting budget and stick to it strictly. If your budget is $500 and you reach that limit, refrain from placing additional bets, even if you’re confident about the next outcome.
- Gamble Responsibly: Only wager amounts you can afford to lose. This approach ensures that your experience remains enjoyable and that any winnings you do achieve stretch further.
New Jersey Sports Betting Taxes
Before you bet, you should understand how taxes work in sports betting. Sports betting is subject to New Jersey’s gross income tax. Income tax rates in the state vary depending on how much you earn in a year and vary from 1.4% to 10.75%.
The good news when considering New Jersey sports betting revenue and how much you’ll need to pay is that the state allows you to deduct gambling losses from total winnings. When paying taxes on sports betting, you only report your profits. This is an annual deduction, and you can only use wins and losses from the same fiscal year.
Example:
- If you lose $500 in sports bets but have $1000 in winnings, you can deduct the $500 loss and claim a total of $500 taxable income on your taxes. Note that you cannot report a negative number!
- If you win $200 and lose $400, you cannot claim a $200 deduction.
Ready to Place Your Bets in New Jersey?
Now that you’ve worked your way through our guide, you’re ready to hit the ground running on New Jersey sports betting. Keep the information we’ve provided above in mind when making your first wagers.
Curious about how sports betting regulations vary across the country? Explore our comprehensive state-by-state guide to enhance your understanding and become a more savvy bettor no matter where your adventures take you.
