From tighter rules around inactive gaming accounts to updated sports betting policies for combat sports, the Garden State is setting a precedent for ethical and transparent gaming practices.
Stronger Safeguards for Inactive Accounts and Combative Sports
A proposed bill, A397, sponsored by Assemblymen Robert Auth and Joe Danielsen, seeks to classify funds in inactive betting and casino accounts as unclaimed property under the Uniform Unclaimed Property Act.
This measure would compel New Jersey online casinos to contact account holders through mail, email, and phone to return funds before closing an account. The change aims to protect consumers while ensuring fair treatment of unused assets. Currently, unclaimed funds in these accounts are split between casino licensees and the New Jersey Casino Control Fund.
While the regulation awaits approval, active sports betting accounts continue to bolster New Jersey’s gaming market. In September 2024, the state’s sports betting handle exceeded $1 billion for the first time since April, with sportsbooks maintaining an 11% hold. July saw a record-breaking 12.3% hold, contributing to year-on-year revenue growth.
These figures underscore New Jersey’s position as the second U.S. state to surpass $4 billion in sports betting revenue since the Supreme Court’s 2018 repeal of PASPA.
Combating Controversy in Combat Sports
In the wake of the highly publicized Jake Paul vs. Mike Tyson boxing match, the New Jersey State Athletic Control Board (SACB) has adopted stringent policies to address betting integrity in combat sports. The bout, which raised questions about a possible predetermined outcome, sparked significant regulatory changes to prevent similar controversies in the future.
The SACB’s updated rules prohibit all participants, including fighters, promoters, referees, and medical personnel, from wagering on combat sports globally. Officials and board employees are also barred from placing such bets. Violations carry penalties ranging from fines to license revocations.
SACB Commissioner Larry Hazzard Sr. emphasized the importance of these measures, stating,
“By implementing these standards, we are sending a clear message that unethical behavior will not be tolerated in New Jersey’s combative sports industry.”
Beyond combat sports, other issues have drawn scrutiny. William Hill Sportsbook was fined $20,000 for mistakenly accepting bets on already-completed games and matches in 2022 and 2023.
Similar errors by technology providers, such as Amelco, led to unauthorized wagers, including one on the U.S. presidential election, which violated state laws. These incidents highlight the need for stricter oversight in sportsbook operations.
A Model for Responsible Gaming
New Jersey’s proactive approach demonstrates its commitment to fostering a responsible and transparent gaming environment.
By addressing challenges like inactive accounts, unethical betting, and operational errors, the state continues to refine its regulations in response to evolving industry dynamics. These measures not only protect players but also safeguard the integrity of New Jersey sports betting as a whole.
As SACB’s Hazzard noted, such efforts reinforce public trust:
“With this action, we are safeguarding the integrity of combative sports events.”
New Jersey’s focus on accountability and ethical standards ensures its place as a trailblazer in the expanding world of legalized sports betting.
