New Jersey Assemblymember Ralph Caputo has submitted a proposal to codify the rules against offering odds on sports events for which placing bets is prohibited.
Caputo has suggested that operators should face penalties and automatic licence suspensions if found to be offering wagering opportunities on banned events.
The bill was introduced at the end of February, after being submitted to the Assembly Tourism, Gaming and Arts Committee.
The proposal has since progressed to a secondary Chamber reading, and has received six votes in favour by the committee. One member abstained from the vote, while no one voted against.
Caputo’s bill aims to impose fines between $10,000 and $20,000 on operators who are found to be guilty of infractions. In addition, operators will also have licenses temporarily suspended for a period of up to ten days.
“Prohibited sports events”, according to New Jersey regulators, are defined as any collegiate sport or athletic event which takes place within the state boundaries. It includes any event involving a New Jersey college team regardless of the location.
The new penalty framework is set to be imposed by the New Jersey Division of Gaming Enforcement (DGE) and the New Jersey Racing Commission. Fines imposed by the DGE would be paid directly into the state’s Casino Control Fund, and those implicated by the Racing Commission will pay directly into the New Jersey General Fund.
