1. 09-08-14 11:21 AM #1
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    New Jersey Sports Betting update

    Interview with NJ State Senator Lesniak:



    Update: Senator Lesniak has agreed to give SBR an interview with more details as to this news. We will embed the interview ASAP.

    NJ State Senator Raymond Lesniak, whom SBR has interviewed several times, released this announcement on his personal Facebook account minutes ago:

    "NJ Attorney General, John Hoffman, has issued a directive to law enforcement that prohibitions on Sports Wagering in casinos and at racetracks would no longer be enforced. He also has filed a motion with the US District Court (Judge Shipp) seeking "clarification or modification" of the injunction prohibiting enforcement of the NJ Sports Wagering Law."

    More details to follow.
    Last edited by SBR Natalie; 09-08-14 at 01:43 PM. Reason: added video
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  2. 09-08-14 11:25 AM #2
    Sam Odom
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    No more trips to Vegas for jjgold
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  3. 09-08-14 11:26 AM #3
    jjgold
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    Ok..that is good

    What happens when Feds tell them to shutdown???

    Its over then

    it would be cool if passed but we are a long time away from that
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  4. 09-08-14 11:33 AM #4
    SamDiamond
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    Quote Originally Posted by jjgold View Post
    Ok..that is good

    What happens when Feds tell them to shutdown???

    Its over then

    it would be cool if passed but we are a long time away from that
    It is a brilliant legal move.

    Lesniak is using the 3rd Circuit Courts own words against them. They said, to make this work, all New Jersey had to do was take it off the legal books.

    New Jersey just did that.
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  5. 09-08-14 11:38 AM #5
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  6. 09-08-14 11:46 AM #6
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    SBR will be interviewing State Senator Lesniak momentarily. We will embed video ASAP.
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  7. 09-08-14 11:49 AM #7
    SamDiamond
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    Christie just ordered the directive.

    As of this very moment, race tracks and casinos can bet on sports.

    Right now.
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  8. 09-08-14 11:51 AM #8
    Sam Odom
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    JJ , drive to the track and see if they will hand write you a ticket for tonight's games
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  9. 09-08-14 11:52 AM #9
    t-wizzle
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    This is phenomenal.
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  10. 09-08-14 11:54 AM #10
    GzaTheGenius
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    Woah
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  11. 09-08-14 11:56 AM #11
    jjgold
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    Let me go tomorrow and see if I can make a bet

    How can they be set up this fast

    Are they writing it on paper??
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  12. 09-08-14 11:57 AM #12
    Monitor-Tan
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    Quote Originally Posted by jjgold View Post
    Let me go tomorrow and see if I can make a bet

    How can they be set up this fast

    Are they writing it on paper??
    they've been setting it up and testing it for a while
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  13. 09-08-14 11:57 AM #13
    importmoon
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    be careful what you wish for...
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  14. 09-08-14 11:59 AM #14
    Sam Odom
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    Good opportunity to become a 'runner'
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  15. 09-08-14 11:59 AM #15
    existential
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    Quote Originally Posted by jjgold View Post

    What happens when Feds tell them to shutdown???
    they won't
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  16. 09-08-14 12:00 PM #16
    Sam Odom
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    Feds will want their cut (tax) just like a mob operation
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  17. 09-08-14 12:03 PM #17
    existential
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    hey jj - do the forum a favor and make some history while at it..

    go head out to Monmouth and place a bet on the Cilic-Nish final and then make some bets on tonight's MNF games.

    then make a video showing the tickets, historical moment.

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  18. 09-08-14 12:04 PM #18
    SamDiamond
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    Monmouth Park has the infrastructure ready to go.

    With the Giants playing tonight, I'm thinking Lesniak will be there to make the first bet.
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  19. 09-08-14 12:05 PM #19
    jjgold
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    85% of daily vegas bettors have active offshore accounts
    I guess good to have both

    Its good but will never ever be Las Vegas as far as set ups and multi million dollar betting rooms

    It will be hardcore dirty places riddles with mainly minorites but better than nothing
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  20. 09-08-14 12:08 PM #20
    Sam Odom
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    Quote Originally Posted by jjgold View Post

    It will be hardcore dirty places riddles with mainly minorites but better than nothing

    Lot of hot black chicks
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  21. 09-08-14 12:09 PM #21
    SamDiamond
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    Quote Originally Posted by jjgold View Post
    85% of daily vegas bettors have active offshore accounts
    I guess good to have both

    Its good but will never ever be Las Vegas as far as set ups and multi million dollar betting rooms

    It will be hardcore dirty places riddles with mainly minorites but better than nothing
    This isn't aimed at them.

    It's aimed at getting the recreational guys--- guys who head to AC for a weekend, and are dumb enough to drop 1500-2K betting sports.

    Guys who drive from Philly-Baltimore to get some legal action down on a Sunday, play some cards/slots on a weekend....
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  22. 09-08-14 12:09 PM #22
    existential
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    Quote Originally Posted by Sam Odom View Post
    Feds will want their cut (tax) just like a mob operation
    so what
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  23. 09-08-14 12:10 PM #23
    jjgold
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    yes sammy

    it could be ok actually

    although they will find out its mainly a break even deal

    Post Up Sports betting is not profitable ..ask Vegas too much expenses

    All the money will always be in CREDIT OPERATIONS
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  24. 09-08-14 12:13 PM #24
    Sam Odom
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    Quote Originally Posted by existential View Post

    so what

    By the time NJ lawmakers & Wash DC crooks get done the books will have to charge 15c juice
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  25. 09-08-14 12:14 PM #25
    existential
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    Quote Originally Posted by Sam Odom View Post
    By the time NJ lawmakers & Wash DC crooks get done the books will have to charge 15c juice
    wrong. you'll see 5-7 cent lines before 15, watch.
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  26. 09-08-14 12:16 PM #26
    brooks85
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    that's awesome, NJ not too far from me compared to vegas. Looking forward to the interview.
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  27. 09-08-14 12:16 PM #27
    Sam Odom
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    Quote Originally Posted by existential View Post

    wrong. you'll see 5-7 cent lines before 15, watch.

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  28. 09-08-14 12:17 PM #28
    Optional
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    Quote Originally Posted by Sam Odom View Post
    By the time NJ lawmakers & Wash DC crooks get done the books will have to charge 15c juice
    The cost of real regulation.
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  29. 09-08-14 12:18 PM #29
    jjgold
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    Best of luck we're rooting for you
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  30. 09-08-14 12:20 PM #30
    Sam Odom
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    Quote Originally Posted by Optional View Post

    The cost of real regulation.
    And the save the children tax
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  31. 09-08-14 12:29 PM #31
    SamDiamond
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    I guarantee Lesniak makes the first bet at Monmouth Park.

    Giants are playing tonight... just watch. He makes it tonight.
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  32. 09-08-14 12:33 PM #32
    existential
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    Quote Originally Posted by Sam Odom View Post
    it'll never top 10 cents and will only move lower over time. the shift out of the black markets into highly efficient, regulated markets will increase liquidity and volume.

    more volume = more margin dollars and more tax revenue. you don't pass on the costs to the consumer to make that model work. think large corporation methodology under free market conditions with tremendous competition! customer will play where it's the cheapest and where they feel confident. that creates a high transaction environment where the formula/model works.
    Last edited by existential; 09-08-14 at 12:38 PM.
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  33. 09-08-14 12:51 PM #33
    SamDiamond
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    This is interesting timing to.

    Because.... Goodell has his hands full with this Ray Rice fiasco.

    What does he do? Focus his efforts on sports betting in New Jersey, but ignore the Rice video?
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  34. 09-08-14 12:53 PM #34
    creed
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    Quote Originally Posted by existential View Post
    it'll never top 10 cents and will only move lower over time. the shift out of the black markets into highly efficient, regulated markets will increase liquidity and volume.

    more volume = more margin dollars and more tax revenue. you don't pass on the costs to the consumer to make that model work. think large corporation methodology under free market conditions with tremendous competition! customer will play where it's the cheapest and where they feel confident. that creates a high transaction environment where the formula/model works.
    No way juice will ever come down. If New Jersey politicians thing sports betting will save there economic woes in the casino bizz they are truly mistaken. Its more profitable for a casino to fill a spot with penny slot machines than a sportsbook. JJ CORRECT on this.
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  35. 09-08-14 12:56 PM #35
    Sam Odom
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    Quote Originally Posted by creed View Post

    No way juice will ever come down. If New Jersey politicians thing sports betting will save there economic woes in the casino bizz they are truly mistaken. Its more profitable for a casino to fill a spot with penny slot machines than a sportsbook. JJ CORRECT on this.

    also... there is NEVER enough tax/revenue $$$ for lawmakers - they will spend more and more and more
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