Micro betting in New Jersey has been described as ‘one of the most troubling manifestations of the new sports betting environment’ and a new bill could prohibit them.
The new betting trend is popular among users, with the trend becoming one of the fastest growing in-play verticals in the sports betting industry across the 2024/25 period.
If the bill is passed in the area, it would seek to establish penalties for sports wagering licensees who offer micro bets but there is no confirmation on what such penalties could look like.
Daniel Meara, a representative of the Council on Compulsive Gambling for NJ, claimed that it has become one of the worst manifestations of sports betting.
“The council has seen a 300% increase in calls to our helpline since sports betting was legalised in 2018. This is one of the most troubling manifestations of the new sports betting environment.” He said on Pix11 news.
This increase in gambling has led to more people having addiction issues, with Democratic Assemblyman, Dan Hutchinson, in NJ stating he has introduced Bill A5971 to help combat against micro betting which he claims there is no let-up for these individuals.
Hutchinson explained: “People are constantly making bets, play after play and there’s no let-up. I will help people with their debts and a lot of times, they are choosing to bet rather than make their mortgage payments. This is a different type of gambling.”
However, a report from January of this year revealed that sports betting, as a whole, was down. Sports betting revenue dropped by 28.4% to $122.2m, with online sports betting dropping 29%.
Whereas land-based casinos remained strong, even rising by a small percentage increase. The iGaming market showcased considerable growth, rising 20.9% to $221.6m.
