New Jersey to let casinos accept bets on fantasy teams

0

ATLANTIC CITY, N.J. (AP) — Peyton Manning’s touchdownpasses, Adrian Peterson’s first downs and
Darrelle Revis’ interceptionscould combine to make someone rich this fall.New Jersey isallowing casinos in
Atlantic City to offer fantasy sports betting in apilot program that will be announced Monday.The state
Division ofGaming Enforcement has told casinos it will allow them to accept entryfees from gamblers and pay
out winnings from the casino cash cages.Regulationswill be spelled out Monday, but an online gambling
association says itexpects that players will be allowed to draft a pool of athletes, followtheir
performances and compete against other fantasy teams. Those withthe best statistical totals will win
cash."This gives players theoption to deposit money and then play daily fantasy games, where theypick
three or five Major League Baseball or National Football League orNational Basketball Association players
and build an aggregate rosterjust for that one day," said Joe Brennan, president of the
InteractiveMedia Entertainment & Gaming Association, an online gambling tradeassociation. "Just
like those leagues where you pick teams and followthem all season, you won’t have to wait till the end of
the year to seewho wins. You would just wait till the end of the day to see who winsthe prize."The
casinos could offer the games themselves or partner with other companies, and the industry welcomed the
move."Thisis another great addition for the Atlantic City gaming market," saidTony Rodio,
president of the Casino Association Of New Jersey.Itremains to be seen whether the fantasy bets could be
made online orwould have to be made in person at the casinos. Several websites alreadyoffer such betting,
including fanduel.com and draftday.com.Nevadaalready offers fantasy sports betting, but Brennan said he
considersthe demand there to be smaller because patrons also have the option ofbetting on individual sports
games at the Nevada casinos.He couldnot offer an opinion as to whether fantasy sports betting would
declinein popularity if New Jersey prevails in its court battle with thefederal government and the four
major professional sports leagues overwhether it can legally offer sports betting. Only four states met a
1991deadline to approve sports betting; New Jersey was not one of them.Theregulations will be published in
the New Jersey Register on April 15and become effective April 22. That means they will come too late forthe
surge of interest in fantasy pools for the NCAA basketballtournament, but it would be in plenty of time for
baseball in thespring, and football in the fall.Participation would be voluntary among the casinos.___Wayne
Parry can be reached at http://twitter.com/WayneParryACCopyright 2013
The Associated Press.

No posts to display