New Jersey Lawmakers to Push Forward With Micro-Betting Ban

It appears the days of micro-betting in New Jersey may be coming to an end. Players interested in betting options can explore various New Jersey sportsbooks for more details.

State Senator Paul Moriarty has confirmed he has no intention to drop his Senate Bill 4794 to ban micro-betting. The announcement comes just days after the MLB and sportsbook operators agreed to make changes to micro-betting restrictions in an effort to combat spot-fixing. The industry had hoped those changes would stave off the proposed ban, but Moriarty confirmed that isn’t the case.

The MLB and sportsbooks agreed to set a $200 bet limit on micro-wagers and banned them from being added to parlays. This limits the winnings, disincentivizing betting schemes like the one the league is currently dealing with. Sportsbooks agreed to the restrictions in the hopes of staving off a full ban, like the one proposed in New Jersey.

It appears the strategy failed, as lawmakers clearly don’t believe the changes are enough. There remain concerns about spot-fixing across the US, as well as links to problem gambling. Micro-wagers allow bettors to place bets throughout a game or event, which can lead to losses piling up quickly. 

Ohio had also been pursuing a ban on micro-betting, but Governor Mike DeWine dropped the effort after applauding the new MLB restrictions.

What About Sports Contracts?

While state regulators and the sports betting industry are cracking down on micro-betting, those changes won’t affect sports prediction markets. Those operators are not bound by sports betting regulations, meaning they can offer whichever markets they want.

This fall, Kalshi prediction market expanded its offering to include player prop bets. While these are less controversial than micro-betting, they have also been used in betting schemes. The bet type has also been tied to a spike in athlete harassment, leading some states to push for bans or tighter restrictions.

With more operators entering the world of sports contracts, there is a concern that micro-betting will eventually become available. With minimal problem gambling protocols or regulations, this could pose a far greater danger than sportsbooks. 

The MLB has requested operators in the prediction market space to comply with restrictions, but no changes have been made.