Are you looking for a reliable and legal sportsbook? We’ve compiled a list of the best sportsbooks in New Jersey, including the bonuses and customer support offered by each site. Using a sportsbook’s 24/7 customer service will ensure your safety, and make the experience of wagering a pleasure. But which sportsbook is right for you? If you’re not sure, keep reading! Here, we’ve highlighted some key points to keep in mind.
Legality of sports betting in New Jersey
The legality of sports betting in New Jersey has long been debated. New Jersey was one of the first states to legalize gambling, though casinos were restricted to Atlantic City. In 2010, the state considered allowing sports betting, but it was not until it was looking for ways to boost its casinos that it took the step. In November of that year, a referendum was held to decide whether or not sports betting was legal in New Jersey. The result was a unanimous 91% vote for legal sports betting in Atlantic City.
Taxes levied by state-licensed sportsbooks
Every state has different gambling taxes, and most tax winnings in gambling activities are taxable in the state in which the bet was made and the bettor lives. Online sportsbooks, also known as bookies, argue that all bets are made in the state in which the company is registered, has servers, and has its employees. While this may be true, most law enforcement and tax agencies would argue that all bets take place in the state where the bettor resides.
Safety of funds at regulated sportsbooks
There are many ways to protect your funds while betting at online sportsbooks. You can use credit cards to make deposits. They offer top-level security and accept multiple forms of payment, including PayPal. Some cards also offer cash-back or reward points. But credit card acceptance rates are not 100% at regulated sportsbooks. Credit card deposits are like “cash advances” and usually incur a 3% fee. Using a debit card will let you make instant transactions from your checking account, but there are limitations.
Opportunities for trading and arbitrage in a sportsbook
There are several opportunities for trading and arbitrage in a sports book. However, not all sports books offer such opportunities. You may have to bet large amounts and place high betting limits to make arbitrage betting profitable. In addition, many sportsbooks do not like players who attempt arbitrage betting. They can also be banned from a sportsbook. Thus, you must seek out other sportsbooks to find the best opportunities.