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Momentum has picked up to ban micro-betting in New Jersey. Senator Paul D. Moriarty introduced a bill earlier this week that would eliminate such markets in the Garden State, and establish penalties for operators.
Moriarty established a bill similar to Assemblyman Dan Hutchison (D-4), who introduced Assembly Bill 5971 in July. However, Moriarty lays out punishments and fines for operators who violate the bill, should it pass.
Both Moriarty and Hutchinson view micro-betting as dangerous, as a ban would protect those who engage in New Jersey sports betting.
Defining micro-betting and penalties
Hutchinson had introduced his bill without any text, which still remains true. Morarity’s bill, S4794, lays out what micro-betting is. He defines it as follows in the text:
“The bill defines ‘micro bet’ to mean a proposition bet which is wagered live, while a sport or athletic event is ongoing, and concerns the outcome of the next play or action occurring in the sport or athletic event.
“A proposition bet is a side wager on a part of a sport or athletic event that does not concern the final outcome of the sport or athletic event.”
The bill differentiates a common prop bet, which can be an anytime touchdown scorer of an NFL game. A micro wager is whether the next pitch in a baseball game will be a strike or whether the next play in a football game will be a pass or run.
Moriarty also laid out penalties against operators who offer such wagers should the bill pass. His ramifications are as follows:
“The bill provides that any sports wagering licensee or person who offers or accepts a micro bet contrary to the provisions of the bill has committed a disorderly persons offense and will be subject to a fine of not less than $500 and not more than $1,000 per offense.”
Harming bettors
Hutchinson and Morarity have brought bills to the forefront to protect New Jersey gamblers. Micro wagering can be harmful.
As a bankruptcy attorney in New Jersey, Hutchinson has seen first-hand the harms micro gambling can caused. He told CBS News last week about a client:
“I go through all the bank statements, I see all the FanDuel bets and all this, and he promised me it wasn’t going to happen again.
“But it did happen again. He went down on his bankruptcy payments, on his mortgage payments, and he’s facing the loss of his home. It’s terribly upsetting.”
Hutchinson also stated that he is not opposed to sports wagering. However, tighter regulations need to be enforced. He and Morarity are leading the charge to do so.
