New Jersey, New York Polar Opposites at SBC Sports Betting Conference
New Jersey’s current position as a leader in the online gambling niche is the polar opposite of New York, who the experts believe is dragging its feet. The disparity could not have been more obvious and was spelled out by two independent panels at the SBC Betting on Sports American digital conference hosted on Tuesday.
During the first session, New Jersey’s long-term chief regulator made a gist of all the reasons behind the decisions that helped the Garden State surpass Nevada to take the crown for the #1 State for wagering handles in the country.
In a parallel session, New York’s pro-gaming legislators listed the reasons behind their continued difficulties in regulating the mobile gambling market in the state. While they remained hopeful of reaching a consensus by the spring of 2020, no guarantees could be given.
Meanwhile, the differences in how the two states approach iGaming will continue to send thousands of New Yorkers across the state lines every week. New Yorkers like to catch a train across the border to take part in prestigious competitions with millions of dollars on the cards or for casual wagering.
New Jersey Showing the Neighbors How It’s Done
The Director of New Jersey’s Division of Gaming, David Rebuck, was a revered speaker at the event discussion titled “Leading the Pack – the NJ Revolution”. David has overseen both the regulation and implementation of NJ online casinos since 2013 and retail sports betting soon after the historic US Supreme Court ruling against PASPA in 2018.
Sports betting operators often compare the regulations in other states with New Jersey as the state set a prime example of how to balance business without sabotaging local culture. David credited New Jersey’s governors, law enforcement bodies, legislators, and operators that helped modernize the industry that was established in the state back in the ‘70s.
He added that much of NJ’s success is due to a healthy competition among the numerous online operators rather than worrying about reduced business at land-based casinos. “We made our decision to allow casinos and racetracks to diversify their portfolio. Thus, creating a grand opportunity for healthy competition rather than cannibalization” David added.
A Few Key Takeaways from the Conference
Among the primary decisions that benefitted the consumers and the industry, allowing punters to register online sits at the very top. Online gamblers in New Jersey can sign up following the state’s mandate online, unlike Nevada, which requires punters to physically appear at a casino at the time of registration.
David said, “the move has been extremely successful as anybody following our growth story will corroborate. Our citizens like and want things right as they are, and their confidence in the system is visible. As a businessman, you cannot force consumers to take actions against their will”.
Moreover, the decision to allow multiple operators also paid off as the punters now have a ton of sportsbooks and online casinos to choose from. Their numbers are far exceeding physical casinos.