Until this week, Atlantic City’s Golden Nugget Casino was prohibited from taking bets on NBA Basketball – but that’s all changing.
New Jersey lawmakers on Monday gave the nod to a bill that should pave the way for such change. It still needs to be signed by State Governor Phil Murphy, but he is not expected to stop it going through.
Previously players, officials and owners of NBA clubs were banned from participating in NBA betting in NJ. They were prohibited both from placing or accepting wagers.
The problem for the Golden Nugget was that its billionaire owner, Tilman Fertitta, also owned the NBA’s Houston Rockets. This prevented his NJ Casino from taking any bets on the NBA or its players. And it came at a great cost.
In its first year when NJ’s total betting handle totalled some $3 billion, basketball attracted more wagers than any other sport.
Year-to-date basketball handle totalled $663 million in July
The July figures put out by the New Jersey DGE showed that Basketball’s year-to-date handle was $663m. Against this, next best baseball totalled 441.8m and football only $115.9m.
When NJ’s lawmakers originally disallowed any form of NBA basketball betting at the Golden Nugget there were objections.
Fertitta’s Nevada casinos were able to take NBA bets so long as they did not involve the Rockets. Why it was asked, could this not also apply to the Golden Nugget?
Well, it will now. Betting on the Rockets, its officials and players will still be illegal, but all other NBA wagers will now be on. That is, of course, as soon as New Jersey’s pro-sports betting Governor gives it the green light.
Footnote: The law prohibiting all New Jersey sportsbooks from taking bets on the state’s college basketball teams and players remains in force.
