Lawmakers Bet Big on Sports Betting in Unapproved State Budget

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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.

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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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