Lawmakers Bet Big on Sports Betting in Unapproved State BudgetLast Edited:
Governor Phil Murphy's administration is penciling in the money expected to be earned from sports betting to the unapproved state budget.
On Monday, May 21st, lawmakers budgeted $13 million in expected revenue from sports betting saying the estimate is based on an expected rate of eight to 15 percent.
Legislation for sports betting in the state is still pending after last week's United States Supreme Court decision to strike down a federal law that banned sports betting in all but four states.
Lawmakers and Murphy have until June 30th to enact a balanced state budget.
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