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Sports Betting

ATLANTIC CITY, N.J. (AP) — New Jersey's top gambling regulator is threatening to fine sports books operating in his state that ask customers to cancel requests to cash out money from their accounts, saying the practice is ongoing and “unacceptable.”

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ATLANTIC CITY, N.J. (AP) — On a day when New York's governor did an about-face and embraced mobile sports betting as a way to deal with financial losses stemming from the coronavirus pandemic, a company that tracks gambling legislation and performance predicted that revenue from legal sports betting could reach $3.1 billion in 2021 and as much as $10 billion within five years.

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Up to 1,400 locations around the state could be eligible to offer sports wagering under a new rule proposed by the Montana Lottery. The Montana Legislature legalized gambling on sporting events earlier this year and hopes, if the rules process goes smoothly, to have the first bets placed before the end of the year.

Gambling exists in every state, even Hawaii and Utah, where gambling is prohibited by law. But not all gamblers are the same. “Recreational” or “social” gamblers, for instance, buy the occasional lottery ticket, take the rare casino trip or bet small stakes in fantasy sports. But they also are mentally able to quit at any point and prevent catastrophic financial loss.

HELENA — Montana became the first state to legalize sports betting this year after Gov. Steve Bullock signed a bill Friday for the state lottery to oversee a system of wagering through kiosks and mobile applications that could be running by fall.

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