Where Can I Bet Sports Legally Online From New Jersey?

New Jersey was not only one of the first US states to legalize sports betting, it was the state that filed a legal action that led to the Supreme Court abolishing prohibition back in 2018.^[1]  This paved the way for individual U.S. states to amend their own laws and allow the activity.  At times this can be a messy process.  And even in New Jersey, arguably one of the most successful models in the sector, there have been issues.  Most notably, TwinSpires and TheScore have had to bow out of the state due to the competition.Ron DeSantis is an American politician and current Republican Governor of the state of Florida. ^[2]

Where Can I Bet Online From New Jersey

• Licensed regulated gambling websites
• Anonymous Bitcoin sites
• Local bookmakers

Licensed Regulated Gambling Websites

There are over a dozen such sites that operate from the state of New Jersey, with that number changing as some sites opt to leave or are bought out and new entrants come into the market.

BetMGM

FanDuel

PointsBet

DraftKings

888sport

Bet365

Caesars

DraftKings

FOX Bet

Golden Nugget

Hard Rock

Resorts

SugarHouse

Tipico

Unibet

WynnBet

Anonymous Bitcoin Sites

These gambling companies operate offshore with quite a few in business for over 20 years now.  Anonymous betting sites typically only require an email address and it is up to you as the customer to report your taxes. 

A Bitcoin wallet will be used for transferring funds to and from the sportsbook.  That wallet can be tied to an exchange and the exchange tied to a bank account.

These sites also allow you to place bets on New Jersey in-state schools and games that feature them (prohibited by regulated books).  Many of these sites take bets on politics and novelties not offered by regulated books as well. 

Those 18 and up can place bets, as opposed to 21 at regulated books.

Local Bookies

These are obtained through references, usually friends or family.  The local bookie operates in the state using a Pay Per Head software platform.  The benefits of a local bookie include anonymity and the ability to place bets via credit.

These sites also allow you to place bets on New Jersey in-state schools and games that feature them (prohibited by regulated books).  Bookies, however, are often limited in what types of bets they take in terms of politics and novelty.

Tax Implications When Betting With a Regulated NJ Sportsbook

Players are required to pay the 24% tax rate if they win more than $600 in a year.  These winnings are reported by the state regulated sportsbooks using the social security number you provide them. Additionally, New Jersey assesses a 3% state tax on all income.^[3]

Drawbacks of Betting With a Regulated NJ Sportsbook

The lack of anonymity and the requirement to provide your social security number can become an issue.  Additionally, the regulated books do not take bets on in-state schools.

There have also been reports of regulated sites dramatically reducing limits on bets.

Line value is not always the best.

Benefits of Betting With a Regulated NJ Sportsbook

Because these sites are regulated by the state, disputes can be resolved more effectively, at least in theory.

The competition is good and some of these companies offer unique and extensive wagering opportunities.  Some sites even offer better lines than one might find offshore or in Vegas.

All of the mobile sites based out of New Jersey have associated apps. 

References

1. MURPHY, GOVERNOR OF NEW JERSEY, ET AL . v.
   NATIONAL COLLEGIATE ATHLETIC ASSN. ET AL. 
2. Penn National to Pull theScore Sports Betting App from US Markets on July 1
3. New Jersey Online Sports Betting in 2022

- Gilbert Horowitz, Gambling911.com