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 increase the risks of problem gambling and negatively affect both bettors' health and the integrity of sports. By implementing this prohibition, the bill aims to safeguard citizens from the potential harms associated with micro betting, particularly in light of rising rates of problem gambling in the state.

To enforce this prohibition, the bill establishes penalties for any licensee or individual who violates this rule, classifying such actions as a disorderly persons offense with fines ranging from $500 to $1,000 for each offense. Additionally, the bill introduces new legal definitions for "micro bet" and "proposition bet" to clarify the nature of these wagers. Overall, the legislation seeks to promote responsible gambling practices and protect the integrity of sports wagering in New Jersey, taking effect immediately upon passage.

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