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New Jersey on Track to Legalize Sports Betting

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New Jersey gambling industry is going to see a big change in the form of Esports betting once the related bill gets passed in the NJ Assembly. It will not just introduce a plethora of entertainment opportunities for NJ players but also help to increase the value of the state revenue. And post the implementation of this new sports betting legislation, the overall revenue of the state will see a sky-rocket growth.

Currently, the global gambling industry stands at $4.58 billion (2019) and technology advancement has been playing a crucial role in increasing the demand for online casino games as well as sports betting. This boost in the online gambling industry has not just offered business opportunities for casinos and sports betting companies but it has also contributed to increasing the development of various sectors in New Jersey.

In the year 2018, the state had already introduced the sports-gaming law that legalized the in-person and online sports betting for the general population. Citing the example of the legalization of casino games and online sports betting, Assemblyman Ralph Caputo (D-Essex) sponsored the legislation to call for the legalization of esports betting under the 2018 sports gaming law.

The bill has been receiving huge support from partisan and it is about to get passed to legalize esports games in New Jersey. The sole motive of this bill is to make esports legal and popular. It will allow people to place bets on esports, especially on League of Legends in order to win a huge amount into their pockets. Many stakeholders will get benefitted due to the popularity of esports competitions just like sports betting. And New Jersey, as well as the global online gambling market, will see a big boost in the coming time.

After the one time permission granted by DGE in 2018, New Jersey’s gambling operator, many sportsbooks offered odds for League of Legends World Championship and this offer received a humongous response from online visitors. Hence, the discussion on legalizing esports is not new for New Jersey people. In the US, esports is not fully acceptable and hence online sportsbooks do not offer odds for tournaments falling under this category.

Since esports enjoy a huge demand among people and hence the legalization of esports under sports gaming law will simply make New Jersey a prominent place to offer opportunities for esports tournaments. After Nevada, it will become the second place to do so. Other than this, it will also become possible to keep a check on the illegal and unlicensed gambling operators working in New Jersey.

In addition to this, it will also offer more security to gamblers in the online betting market as it will become possible for gambling operators to put a check on online crimes happening in the New Jersey gambling industry. Legalization of sports betting has been receiving a lot of attention in many states of the US and it is in high demand to produce a high revenue for the other development works.

After the passing of the new sports betting act in New Jersey, it will be easier to generate enough funds for the development of educational and other important institutions in order to provide better facilities to the people of the state. It will also give a new boost to the global gambling industry and open more options for people to invest their money in different games in addition to entertaining themselves at the same time.

According to NJGamblingFun, New Jersey casino operators earned over 482 million dollars in profit in 2019 and the tax from this earning simply contributed to the revenue of the state to a great extent. And the December month of 2019 saw a record-breaking earning ($49.3 million) and this earning played a crucial role in taking the total to a huge value. New Jersey Games Application Division announced this news on its official platform in the month of January.

If we compare it with the statistics of the year 2018, then the December month revenue in 2019 witnessed a hike of about 70%. Until now, the process of legalizing the esports betting is underway, people have already started expressing their expectation from this bill.

This simply indicates that New Jersey people are so eagerly waiting for this new change in the world of esports. Under the bill, it has been mentioned that only the guidelines mentioned in the 2018 sports gambling law will be accepted and it has to comply with the stated standards of the DGE.

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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World

Turkish Textile Giant Sun Textile Solution Proposal for Drought

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While the World Health Organization (WHO) and the United Nations (UN) are seeking solutions to combat drought through various projects, Ekoten Textile, a subsidiary of Turkey’s textile giant Sun Textile, has developed a groundbreaking project in collaboration with a technology startup to minimize the intensive water consumption in the textile industry. This pioneering project, the first of its kind globally, will enable the recycling and reuse of up to 90% of the water used in textile production.

Drought is one of the most pressing issues facing the world today. According to WHO data, 40% of the global population is struggling with water scarcity. By 2030, up to 700 million people could be forced to migrate due to drought. The unconscious use of water in global production processes plays a significant role in the rapid depletion of clean water resources.

The textile industry is one of the sectors with the highest water consumption. In Turkey, while the food industry consumes 22% of the water used for industrial purposes, the textile sector follows closely with 18%. For instance, producing an average of 40 tons of products daily requires 2,500 tons of water, equivalent to the daily water consumption of approximately 10,000 people.

CLEAN WATER RESOURCES FOR HUNDREDS OF THOUSANDS OF PEOPLE EVERY DAY!

In textile production, where clean water resources are heavily consumed, the innovative success of the Turkish company stands out as a global best practice. This initiative will shape the future of the industry. The wastewater recycling project, developed through intensive R&D efforts, will ensure that over 90% of the required water is sourced from recycled supplies.

The reuse of wastewater in production will transform the fate of countries operating in the textile sector. By preventing the use of clean water resources for textile production, this project will free up clean water sources that can meet the daily needs of hundreds of thousands of people.

R&D ACTIVITIES IN 38 COUNTRIES WITH 380 PARTNERS!

Sun Textile places great emphasis on R&D activities, conducting research and development efforts with 380 partners across 38 countries. Sun Textile and its subsidiary Ekoten Textile export nearly 90% of their production, solidifying their identity as a leading exporter. The company ships products to numerous destinations worldwide, including European countries, the UK, and the US. Sun Textile, the leading ready-to-wear exporter in the Aegean Region, achieved a consolidated turnover of 250 million euros in the third quarter of 2024, continuing its active growth trajectory.

OFFERING CUSTOM DESIGNS TO CUSTOMERS

Sun Textile provides its own designed collections to leading brands in Europe and the UK. Ekoten Textile, its subsidiary, is among the most respected knitted fabric manufacturers in Turkey and Europe. 

With a dedicated sales team for each major customer group and five design offices in three different countries, Sun Textile creates designs tailored to its customers’ needs. Its largest clients include the Inditex Group, H&M, Jimmy Key, Tesco, Kiabi, Marks & Spencer, and Next.

Sun Textile also extends its sustainability approach to social responsibility, notably for its high ratio of female employees. The company, which went public in 2022, is also listed in dividend indexes.

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