Governor Murphy Signs A5463 Into Law

Governor Murphy signs legislation.
TRENTON – Governor Phil Murphy signed the following bill into law:

A5463 (Mukherji, Burzichelli/Diegnan) – Permits owner of 10 percent or more of member team of sports governing body to place or accept wagers on certain sports events in which other member teams participate.

This bill permits a direct or indirect legal or beneficial owner of 10 percent or more of a member team of a sports governing body to place or accept wagers on a sports event in which other member teams participate when the owner’s team is not participating. Currently, a legal or beneficial owner of 10 percent or more of a team may not place or accept wagers on any sports event in which any of the other member teams of the team’s sports governing body participate. This bill would permit placing and accepting wagers on those events when the owner’s team is not a participant in the event.

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