NJ Politics Digest: Murphy’s Wager on ‘Lord Stanley’s Cup’ Kicks Off Sports Betting

Phil Murphy

New Jersey Gov. Phil Murphy. Flickr/Phil Murphy for Governor

The first day of sports betting in New Jersey kicked off Thursday with Gov. Phil Murphy, and the state he guides, in line to win big if things work out.

For his part, Murphy cast the state’s first sports betting wagers, showing up at Monmouth Park racetrack in Monmouth County to lay down $20 on the New Jersey Devils to win the Stanley Cup and another $20 for Germany to win soccer’s World Cup, according to reports.

It’s understandable why Murphy would bet on the Devils—the only professional sports team to include “New Jersey” in its name. His bet for Germany is a nod to his former post as the United States’ ambassador to Germany.

Murphy, a millionaire who made his fortune at Goldman Sachs, stands to bring home $930 if his bets pay off, according to the Asbury Park Press. But Murphy shouldn’t base his family’s financial plans on his prowess as a gambler. The APP notes that the odds against the Devils are 40-1 while Germany faces odds of 9-2.

Murphy later made his way to The Borgata casino in Atlantic City, where he placed additional bets on the Mets to beat the Arizona Diamondbacks on Thursday and on Ocean County native Martin Truex to win the Daytona 500, NJ.com reported.

New Jersey stands to make about $13 million in tax revenue this year from sports betting—which isn’t a lot but which officials in the cash-strapped state are happy to have. While Monmouth Park and The Borgata were the only two locations to offer sports betting Thursday, more venues are expected to become available in coming weeks, and online betting is expected to start within 30 days.

Quote of the Day: “I’m betting $20 on Germany to win the World Cup, and $20 on the New Jersey Devils to win Lord Stanley’s cup,” – Gov. Phil Murphy, placing New Jersey’s first legal sports wager

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NJ Politics Digest: Murphy’s Wager on ‘Lord Stanley’s Cup’ Kicks Off Sports Betting