Sunday March 17,2013 : NEW JERSEY TO PERMIT FANTASY SPORTS WAGERING AT ATLANTIC CITY CASINOS
Pilot programme will be unveiled Monday
The New Jersey state government is set to unveil new gambling regulations on Monday that will allow Atlantic City land casinos to accept fantasy sports wagering from the third week in April.
The programme will be supervised by the New Jersey Division of Gaming Entertainment, which has informed operators that they will be allowed to accept entry fees from gamblers and pay out winnings from casino cash cages.
The release of the appropriate regulations on Monday is expected to include provisions that will permit players to draft a pool of athletes, follow their performances and compete against other fantasy teams. Those with the best statistical totals will win cash.
The regulations will be formally published on April 15 and become effective April 22 this year.
"This gives players the option to deposit money and then play daily fantasy games, where they pick three or five Major League Baseball or National Football League or National Basketball Association players and build an aggregate roster just for that one day," Joe Brennan, president of the trade body Interactive Media Entertainment and Gaming Association, told the Associated Press news agency.
"Just like those leagues where you pick teams and follow them all season, you won't have to wait till the end of the year to see who wins. You would just wait till the end of the day to see who wins the prize."
The casinos could offer the games themselves or partner with other companies, AP reports, noting that the casino industry has welcomed the move.
Tony Rodio, president of the Casino Association of New Jersey said that fantasy sports would be good addition to Atlantic City gaming.
When we went to press it was not yet clear whether a would be included in the regulations.