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Assembly Speaker: Expect sports betting bonanza for football season By Daniel J. Munoz , September 7, 2018 at 12:02 PM "Let’s face it, football Sunday is sort of an event in the United States.” - Assembly Speaker Craig Coughlin - (MARINECORP NEW YORK/FLICKER) New Jersey’s sports betting market is certain to meet its “first real surge” during this first weekend of NFL’s 2018 regular season, which kicked off Thursday night, according to Assembly Speaker Craig Coughlin. Coughlin, D-19th District, who laid out his projection Friday on the monthly WCTC “Speak to the Speaker” radio segment, also suggested the beginning of the college football season last week will mean be even higher returns for the sports wagering market in New Jersey. “College football was in full swing, they started last week [and] the NFL kicked off last night,” Coughlin said. “There will be a surge and this will be the first weekend where we’ll understand where the sports gambling is.” Coughlin added: “Football is of course the most highly bet-upon sport that there is. Let’s face it, football Sunday is sort of an event in the United States.” New Jersey’s sports betting laws prohibit patrons from betting college sport events played within the state, or on games out of state that involve New Jersey teams. To date, patrons have bet $57.1 million on sports betting since it was officially rolled out across New Jersey on June 14. The most recent betting operation to go live was at Atlantic City’s Golden Nugget Hotel & Casino on Aug. 31.
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The white paper details what will be critical to allow for a successful implementation of sports wagering in Kentucky, following the Supreme Court of the United States' ruling in May that struck down the previous law that limited sports wagering to just a few states. The white paper, which can be accessed here , provides four key criteria that any proposed legislation in Frankfort should include in order to secure continued success for Kentucky's signature industry, as well as provide an environment for sports wagering that will benefit the state's budget and Kentuckians across the Commonwealth. The four criteria are: Sports wagering is made available at Kentucky's racetracks The Kentucky Horse Racing Commission is named the regulatory body overseeing sports wagering The tax rate on sports wagering is competitive A portion of any revenues on sports wagering benefits the horse industry Doug Cauthen, Chairman of the KEEP Board of Directors, commented on the release of the white paper, “KEEP has worked diligently, over the past several months with member racetracks, farms, owners and horse enthusiasts all throughout the industry, to reach a position on sports wagering that unifies the industry. Fortunately, the horse industry sees the great opportunities that exist for legalized sports wagering in Kentucky and have coalesced around this white paper.” Elisabeth Jensen, KEEP's Executive Vice President who oversees the organization's daily operations added, “Now it is critical that the legislature takes up the issue in an expeditious manner to prepare for January's session. With sports wagering already becoming available in a number of other states, Kentucky must be at the forefront of this opportunity and not wait until neighboring states have acted and it is too late. KEEP applauds the work of the bipartisan panel of legislators currently working on this issue and we look forward to sharing the white paper with them.” “Coming to consensus on anything can be difficult in an industry with interests as disparate as our's.” Jensen continued, “However, on this issue, we all see the great potential that sports wagering can bring to the state. Currently, Kentucky's horse racing industry is unparalleled in nearly every metric when compared to other states.
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