Requiring an association with an existing organization gives the casinos and horse tracks strong leverage here: rumor has it that New Jersey casinos are looking for partners who will pay around $1 million up front in addition to guaranteeing up to $1 million per year in revenues. (In Pennsylvania, only one skin per brand is permitted, thus dramatically limiting the options for newer, less well known brands to enter the market). In New Jersey, the regulations specify that each brand may have up to three skins.

However, the rules governing partnerships aimed at other forms of betting like mobile sports betting are still being formulated.

Although the license applicant must also go through similar review, a legal contract with an existing casino is seen as an extra layer of protection for the consumer.Īll states allow entities which hold a license to offer slots to form partnerships with other entities or brands, known as skins. The policy is premised on the assumption that existing casinos already have been through the rigorous licensing requirements ensuring that their principals and enterprise have been thoroughly vetted and that their business processes are transparent and compliant. New Jersey regulations demand that in order to offer online sports betting, a company must have a commercial agreement with an existing land based casino. Enter a Commercial Agreement with a Land Based Casino New Jersey requires that operators interested in becoming licensed as an online sports book pursue two parallel tracks. New Jersey Online Sports Betting License: A Multi-Pronged Approach Here is a general guide to how to obtain a legal mobile sports betting license in New Jersey – with additional notes on how the process may differ in other jurisdictions. Any business seeking to do business with a New Jersey casino by providing services directly related to the operation of a casino’s gaming activity or services ancillary to gaming activity is required to apply for a license. Because many consumers will want to engage in this kind of online gaming on their mobile devices, some forward-thinking jurisdictions have specifically included mobile sports betting in their new laws.Įxperts agree that New Jersey’s legislation is an optimum model to follow for other states seeking to permit and regulate mobile sports betting.

Now that states have the right to decide whether to allow sports betting within their borders, the floodgates have opened: numerous states are passing bills so that this form of entertainment can start generating revenue within their borders.

Sports gambling license cost