This bill seeks to prohibit sports wagering licensees in New Jersey from offering or accepting micro bets, which are defined as live proposition bets concerning the outcome of the next play or action in a sporting event. The legislation addresses concerns about the rapid pace of micro betting, which can lead to increased risks of problem gambling and negatively impact the health and well-being of bettors, including professional athletes. By prohibiting these types of wagers, the bill aims to safeguard the integrity of sports and protect citizens from the potential harms associated with this form of wagering.

In addition to the prohibition, the bill introduces penalties for violations, categorizing offenses related to micro betting as disorderly persons offenses, with fines ranging from $500 to $1,000 for each violation. Each wager offered or accepted in contravention of this law will be treated as a separate offense. The bill also clarifies definitions related to sports wagering, including the introduction of the term "micro bet" and a redefinition of "proposition bet" to specify that it does not concern the final outcome of a sporting event. Overall, this legislative measure aims to enhance the integrity of sports wagering and protect consumers from the potential harms associated with micro betting.

Statutes affected:
Introduced: 5:12A-10, 5:12A-11