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 integrity issues in sports. By implementing this prohibition, the bill aims to protect the health and well-being of bettors, particularly in light of rising rates of problem gambling in the state.

In addition to the prohibition, the bill establishes penalties for violations, classifying any licensee or individual who offers or accepts a micro bet as committing a disorderly persons offense, with fines ranging from $500 to $1,000 for each offense. The bill also introduces the term "micro bet" and redefines "proposition bet" to include side wagers that do not concern the final outcome of a sporting event. Overall, this legislation seeks to enhance regulatory oversight, safeguard consumers, and maintain the integrity of sports wagering in New Jersey.

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