March Madness is one of the most gambled slot events of the year. Cutting out about a quarter of the game would break the bottom line for the New Jersey-based sportsbook. Gamblers will be forced to go to neighboring states to bet games or give action to unregulated offshore books.
The Pennsylvania slot betting market, one of New Jersey’s top competitors, has no limits
“This is an important opportunity that we have to take advantage of,” Sarlo said in a statement. “We need to support and sustain this growing market that is rapidly becoming an important part of our regional and state economies. March Madness is a well-known event on the slot betting calendar, and we have to be a key player. ”
When the Garden State legalized slot betting, the rules were codified in the state constitution. As such, Sarlo’s proposal comes in a constitutional amendment and will have to go through a ballot initiative in November. If passed by the legislature, citizens will have the ability to vote on the matter next year halo69
The amendments only allow for betting on post-college season tournaments that occur within state boundaries. Betting on regular season matches is still prohibited.
New Jersey is one of the largest gambling markets in the country and a clear leader on the East Coast. The slot betting market is the main reason for that. In September, the state gambler broke the monthly hold record set just a month earlier by betting $748.58 million on slots.