New Jersey to slap tougher penalties for illegal sports bets
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New Jersey lawmakers are planning to impose more severe New Jersey penalties on casinos and sportbooks that take bets on prohibited events, such as games involving college teams.
A bill has been proposed for the effect that would impose fines at least 10 times higher than one handed out last year for prohibited bets on college football teams from New Jersey.
It calls for fines of $20,000–$100,000 for violations of the law. They also would have to pay an additional fine equal to the total amount of prohibited bets they accepted and could have their sports betting license suspended for 10 days.
The bill is sponsored by Assemblyman Ralph Caputo, a northern New Jersey Democrat and former Atlantic City casino executive.
“We must provide the proper and necessary oversight to ensure that our state’s holders of sports wagering licenses abide by the laws set forth,” he said. “We want New Jersey’s sports and race gaming industry to succeed, and in order for us to do this, we must guarantee that everyone plays fairly by the rules, and that if people break those rules, they are punished accordingly.”
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