Many New Jersey players are trying their luck at sports betting for the first time after the state legalized online sports gambling but there are a few things that are important to know before you start.
In 2018, New Jersey legalized online sports betting after the Supreme Court lifted a decades-long ban on sports betting outside of Nevada. Since then, more than a dozen licensed online sportsbooks have launched and more are on the way.
Legal online sportsbooks in New Jersey include DraftKings Sportsbook, FanDuel Sportsbook, BetStars, Caesars, PointsBet, SugarHouse Sportsbook, Resorts, 888 Sportsbook, Golden Nugget Sportsbook, playMGM Sports Betting, William Hill, Hard Rock AC, Caesars, and Borgata Sports.
Here are some quick sports betting rules to keep in mind.
Sports Betting Rules
Under New Jersey law, any adult can place a wager at New Jersey’s online sportsbooks if they are physically located in the state and are at least 21 years of age. All sportsbooks use identity verification and geolocation technology to ensure that every player complies with the legal guidelines.
Athletes, coaches, referees, and “other persons with potential influence or access to non-public information regarding sporting events” are banned from placing bets overseen by the leagues in which they participate, per the law.
The only other catch in the law is that bets on games involving New Jersey high school or college teams or college and high school games that take place in New Jersey are prohibited. All other sports bets are fair game.
Online sportsbooks will display a set of odds for each sporting event until the start of the game or until a few minutes before the start of the game. Once the game starts, you can no longer place a bet on the pre-game odds. Many online sportsbooks offer in-game betting that allow you to bet on realtime odds during the game as well as a number of prop bets.
Sports Betting Information
While you can find a wide range of sports betting information online, most online sportsbooks will offer the most important information right on their platform. These sportsbooks offer dozens if not hundreds of different odds for each sporting event. Sportsbooks offer a wide range of prop bets and side bets for each game as well as longterm futures bets that you can place.
Here is a quick glossary of terms to remember when browsing through the sportsbook:
Point spread/line: These are often used interchangeably and are used to denote the margin of victory the favorite must “cover” in order for the bet to win. So if the Jets are a -3 favorite, they must win by at least 4 points for your bet to win.
Moneyline: This denotes how much each bet pays out. So if the Giants are a -150 favorite, you would have to bet $150 to win $100 If they are a +130 underdog, your $100 bet wins $130.
Over/under: Sportsbooks allow you to bet whether the final combined score will be higher or lower than their projected total.
Parlay: A bet that allows you to combine more than one wager into one bet, raising the risk but also the possible payout.
Prop bet: A wager that allows you to bet on virtually any single event involving the game.
Futures bet: A wager that allows you to bet on a longterm line, like who will win the Super Bowl.