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New Jersey Embraces Sports Gambling, and a Billion-Dollar Business Is Born

Bryan Anselm for The New York Times

EAST RUTHERFORD, N.J. — Lisa Kerney once earned her living hosting “SportsCenter” on ESPN, making her a nightly fixture in the vast American conversation between sports fans and their favorite athletes, teams and leagues. Her latest endeavor, she believes, is just as all-American.

Every Saturday, Kerney slips into the anchor’s chair of a very different kind of television program: a sports betting show from a makeshift studio at the Meadowlands Racetrack. Instead of reporting just scores and news, Kerney now also rattles off N.F.L. point spreads and money-line odds as easily as a CNBC host talks stock prices and P/E ratios.