The state of New Jersey has always been one of the big supporters of sports betting which is why the lawmakers have been pushing ahead the idea of legal wagering on sports events over the span of the past years. Now that the gambling offering was officially greenlighted across the state, more and more facilities in operation claim their spot in the budding industry, the latest one being Meadowlands Racetrack which announced its sports betting launch would come next month.
Ever since the beginning of this month and the official approval of sports betting within the borders of the state, the gambling industry of New Jersey witnessed a significant shift. The long-anticipated changes which took place aimed to bring innovation and a breath of fresh air to the gaming field of the state which has been in need of sports wagering regulation for many years now. With the help of Assembly Bill 4111 striving to provide sports wagering with the proper regulation, Gov. Phil Murphy set the tone for the upcoming months.
New Jersey was the second state to legalize a well-rounded sports betting industry outside of Nevada and the first two properties to launch it were the famous Monmouth Park Racetrack located in Oceanport, closely followed by Borgata Hotel and Casino in the gaming hub Atlantic City. Monmouth already made public its successful first weekend of sports betting operation which brought its operator some $4,886,393 in wagers. The two facilities would have the chance to dominate the field in the next couple of days.
The renovated Ocean Resort Casino is going to become the next location offerings sports betting, as it acquired its sports book license recently. The month of July is when the state is set to welcome the fourth gaming facility with an operational sports book, this one boasting a bigger potential to attract not only New York players to its premises, but also gaming enthusiasts from Long Island and Westchester County. This would result in about 10 million new players willing to participate in the new gambling offering.
Sports Wagering Comes to a New Location
Meadowlands Racetrack is well-known across the states as one of the premium facilities providing players with both thoroughbred and harness horse racing around the year. Ever since its launch back in 1976, the racetrack has gained its popularity due to its competitive offerings and 41 years have been enough for it to claim its leading position on the gaming map of the US.
There is an appointed date for the launch of gambling on sports events and horse races and it is going to take place about a month from now. Jeff Gural is the manager of the racetrack and he claimed that this turn of events is going to guarantee a significant improvement in the operation and the overall revenue of the racetrack.
Since New York state failed to devise its own sports betting regulation in time before the legislative session saw its adjournment, now the state would have to wait for its next chance to provide the regulation. This is expected to happen in the first months of 2019, giving New Jersey’s racetrack plenty of time to operate and attract players from the 20-mile radius.
The owner of Meadowlands also oversees the management of Tioga Downs Casino Resort located in New York, which would not have the chance to offer wagering in the foreseeable future. The sports book of both locations is provided by Betfair US, which is a subsidiary of the UK-listed Paddy Power Betfair.
For the time being, Meadowlands will have only sports wagering and simulcasting on offer, while the plans for the upcoming months feature online sports gambling as well. According to the New Jersey’s gambling regulator, the said timeline seems reasonable and the location has the chance of accomplishing it.