Hot stocks to watch this afternoon: GPRO, HAS, MU >>> READ MORE

New Jersey Casinos to Accept Fantasy Sports Betting

New program announced this week


Casino stocksBeginning this year, casinos in New Jersey will run fantasy sports leagues that allow players to bet real cash.

The pilot program — which was announced Monday by the state Division of Gaming Enforcement — allows gamblers to select players and bet on their aggregate performance that day, reports the Associated Press.

Bettors would be able to select three to five players in professional baseball, football and basketball and place bets on the total performance. The team’s performance for that day will be compared to other teams, and the winner will receive the payout at the casino’s cash cages. The rules will be published April 15 and go into effect April 22.

Under the program, casinos could manage the games or partner with another company that already manages fantasy sports programs. Several online sites already offer a similar program, but it has not yet been made clear whether the casinos would be able to offer the bets online.

More stories about gambling:

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC