New Jersey Governor Phil Murphy has attributed the first-year success of the New Jersey sports betting market to the wealth of regulatory and customer experience in the state, predicting that New Jersey will overtake Nevada as the new place to “plant a flag” when it comes to sports betting in the United States.
Speaking at the recent Betting on Sports America event, Murphy explained that the forty years of regulatory and customer experience in New Jersey has lay the foundations for what has already been a booming market, with the New Jersey Division of Gaming Enforcement (NJDGE) being among some of the world’s most premier regulatory institutions.
When pressed for advice to other states who are looking to legalise sports betting, Murphy stressed: “One of the advantages that we’ve had is over forty years of casino and gaming experience. And I say that because we have a division of gaming enforcement which is viewed as one of the premier organisations of its kind anywhere in the world, not just in the country.
“So we’ve not just got over forty years of customer experience, a lot of it very good, but most importantly, regulatory. And I think that’s the most important piece of advice that I would give to other states.
“Take your time, make sure you set out the right regulatory framework and mindset set up upfront. That is not something you can take lightly. It’s not something you can just back in to. I would say, as something to pat ourselves on the back, New Jersey is as good a place for other states to look to as anywhere in the world.”
New Jersey was among one of the first states to legalise sports betting following the fall of PASPA in May last year. A number of states have looked towards those with a regulated market as models to potentially replicate.
Murphy explained that a number of states have been monitoring the New Jersey model when considering their own potential markets. He added: “I haven’t had a whole lot of exchanges with other governors, but we know that a lot of other states are looking at it.
“I think there are now six states in the business, we’re number two and I think we’ll be number one – I think we’re going to catch Nevada as early as next year, according to the experts. But I know there’s a lot of interest around the country.
“What we want to do is consolidate a great head start, and make New Jersey the obvious place where folks considering planting a flag are going to plant it here.”