The NJ Division of Gaming Enforcement (NJDGE) is about to make an official announcement that will make clear their position, on how the state will allow fantasy sports betting as an in-house casino gambling offer in Atlantic City.
The state’s gaming regulatory body aims to publish the complete details of the related regulations on April 15, which will officially take effect on April 22, 2013. The division’s preliminary briefings gave information that casinos can likewise offer the fantasy sports betting games themselves, with or without partnership with other companies.
Moreover, the acceptance of entry fees from participants and release of payouts to winners should take place only at the casino’s cash cages. Online gambling associations still have to wait for NJDGE’s official announcement, if NJDGE will, at least, allow players to place their bets online instead of requiring the latter to bring their bet money to the casino where their fantasy sport team is a participant.
A fantasy sport is one in which participants draft a pool of real professional players as a dream team. The basis for the competition is the actual and current statistics generated by the real players in real games and the dream team that ends up with the best statistical totals, wins.
As a casino offering, running contests for dream teams and betting activities will carry on daily during the holding of seasonal professional sporting events.
Inasmuch as casino operators have to wait for the approved regulations to come out and take effect on April 22, they expect fantasy sports betting to gain momentum only in spring through fall once players of professional baseball and football leagues go into action.