State Sen. Paul Sarlo is set to introduce a bill that would open the state’s betting market for college sports.
“New Jersey has become the country’s biggest sports betting market, and the Meadowlands is the largest sports wagering facility in the state,” said Sarlo (D-Woodridge). “This is an important opportunity we have to capitalize upon. We need to support and sustain this growing market that is fast becoming a significant part of our regional and state economies. March Madness is a high-profile event on the sports betting calendar and we should be a key player.”
The bill, which has not yet been posted, would allow sports betting for NCAA-sanctioned tournaments, playoff games, championships and post-season competitions.
The measure would be a boon to New Jersey’s booming gambling industry, which last month set a record for sports bets. In August, gamblers put up $668 million in wagers in New Jersey sports books.