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New Jersey just legalized sports betting

World Cup starts this week. What perfect timing for online gambling sites.

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New Jersey just legalized sports betting.

EA Sports

Online gambling just got the green light in New Jersey.

On Monday, Gov. Phil Murphy signed a bill legalizing sports betting in the Garden State, a move that opens up the prospects of online sports betting pools.

"This is the right move for New Jersey," Murphy said in a release. "It means that our casinos in Atlantic City and our racetracks throughout our state can attract new business and new fans, boosting their own longterm financial prospects."

New Jersey's move follows a Supreme Court ruling last month that found individual states should decide whether sports should be legal. That's opened the door for online sports fantasy sites, such as DraftKings, to partner with local casinos.

DraftKings has already agreed to offer sports betting through the Atlantic City casino, according to ESPN.

"The New Jersey Division of Gaming Enforcement has been on the leading edge of creating a smart, consumer-focused betting framework in the Garden State," DraftKings Chief Financial Officer Tim Dent said in a release. "We're working with New Jersey officials toward a public rollout of a DraftKings sports betting product."

The New Jersey bill, which needs to be ratified on Wednesday, allows licensed casinos or racetracks to accept bets at a sports wagering lounge on its premises, according to the release. Those businesses will also be allowed to operate an online sports pool 30 days after the bill takes effect. 

First published on June 11, 2:50 a.m. PT.

Update, 7:29 a.m. PT: Adds Tim Dent statement.

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