NJEDA Aims To Increase Sports Betting Jobs For The State

• New Jersey is slowly becoming the mecca for sports betting in the United States.
• Mobile sportsbooks are allowing for New Jersey sports betting to grow.
• The New Jersey Economic Development Authority wants to create good-paying jobs.

TRENTON, N.J. – The New Jersey Economic Development Authority (NJEDA) said on Tuesday that they want information from the private sector about sports betting employment.

Legal sports betting is quickly becoming a huge market in New Jersey. Revenue from New Jersey sports betting is keeping pace and even surpassing numbers in Nevada. Because of this, the NJEDA believes that having more specialized jobs will be beneficial for the state.

“Sports wagering is a high-wage, high-growth sector that has already benefited New Jersey’s economy,” said Tim Sullivan, NJEDA chief executive officer. “Creating good paying jobs and cultivating a talent pipeline to support this burgeoning industry is critical to Governor Murphy’s vision to creating a stronger and fairer New Jersey economy.”

To help accommodate this, the NJEDA is asking the private sector of sports betting to submit comments about job creation. This is open to casinos, sports betting suppliers and anyone else who works in the industry in New Jersey.

Gaining New Specialized Jobs

A more specialized and high paying job that could end up appearing is bookmaking. All of the casinos in New Jersey outsource their bookmaking process to external companies. Companies like William Hill or FanDuel handles setting the odds.

Bookmaking is a very specialized job. Bookmakers need to do complicated math problems to make sure that the odds are not only fair but profitable. Bookmakers have to prioritize profits for the sportsbook while making sure payout is still fair for the players. This process is difficult to do and that is why sportsbooks in New Jersey are run by outsourced companies.

But if New Jersey will become the sports betting mecca of the world, the state needs to hire bookmakers and other important sports betting positions. Revenue for New Jersey sportsbooks have increased over the past two years. Adding specialized jobs could make revenue increase even more.

“My vision is for New Jersey to continue to lead the way, and to be both the intellectual and technical capital of online sports wagering in the United States – the place where new technologies are built and proven, and the place that other states emulate in creating a regulatory structure that enables the marketplace to thrive,” said Gov. Phil Murphy at the Betting on Sports America Conference in Secaucus in April.

News tags: Nevada | New Jersey | New Jersey Economic Development Authority | NJEDA | Phil Murphy | Tim Sullivan