Meadowlands Racetrack Introducing Sports Betting

Meadowlands Racetrack Introducing Sports Betting

New York state adjourned its legislative season without having passed a sports betting bill in line with its right to do so following the repeal of PASPA laws by the US Supreme court in May.

 It’s just too good to be true for Meadowlands Racetrack, New Jersey, just 6 miles down the road who have announced that they will be introducing sports betting as early as 15 July. This new introductory date is far earlier than previously announced.

Jeff Gural, manager and owner of the New Jersey track has described the development as a “tremendous gift” as 15 million people within a 20-mile radius of the track will have no alternative in the foreseeable future for participating in land-based legal sports betting other than going to Meadowlands. New Jersey gambling regulatory bodies have confirmed that the new timetable can be met on their side with the necessary provisions.

The unforeseen benefit to the state of New Jersey is also not to sneered at – they stand to profit 9.75%  to 13% in taxes per transaction depending on whether the bets are placed at a land-based casino or online. Strategically speaking, even if the gap is of short duration, this gives New Jersey sports betting concerns a good head-start over their New York counterparts in the longer term.

Gural also owns Tioga Downs in upstate New York and has been counting on legal sports betting to revive his business there.

Hard Rock International and Gural had proposed a casino at Meadowlands some time ago due to difficult trading conditions, but this proposal was shut down by voters. It’s unlikely that this could be revisited in under 5 years, as there is no political support for the move either.

Gural stated that Meadowlands sports betting will definitely help the racetrack, but it won’t save the horse racing industry in New Jersey following a $30 million subsidy being withdrawn from the state under former Governor Chris Christy in 2011. Competing against neighboring states has been challenging since then. Gural went on to say that without some sort of subsidy in the future, the track may yet to be forced to only offer sports betting, New Jersey online sports betting and simulcasting.

Meadowlands has partnered with one of the world’s biggest publicly traded sports betting companies - Betfair US -  to offer sports betting and will be following in the foot-steps of Monmouth Park, Borgata Casino, Ocean Resort, and HardRock to introduce New Jersey sports betting. It will only be the second racetrack to do so in New Jersey, and with its accessibility to a closed New York market, they may yet make a pretty penny during this period of transition.

Profile Pic.
About Rich Migliorisi

Long before taking on the role of Managing Editor for in 2018, Rich Migliorisi began his journey with a degree in Film & Broadcasting. Rich began his career as a film editor, but as a lifelong sports fan and an enthusiastic writer, he decided to also pursue a sports writing career in 2013. Rich was nominated by the Fantasy Sports Writers Association (FSWA) for Fantasy Baseball Writer of the Year in 2013 for his editorial work. During this time, Rich simultaneously contributed to various sports publications and video editing projects, while also grinding poker for a living. In 2015, he was hired at MLB Advanced Media as a Senior Site Manager on Rich later joined in the same capacity, lending his talent to both operations until joining the team at BonusSeeker. His experience in sports and poker makes for a unique blend of expertise in the world of online casinos and sports betting.

MLB, NHL, The Fantasy Fix, Video Editor, Poker Player

Latest News

A Comparison Between Online Gambling In Canada To The United States

A Comparison Between Online Gambling In Canada To The United States

The legality of online gambling in both Canada and the Unite...

2019 Gold Cup Odds & Predictions As USMNT-Mexico Clash In Final

2019 Gold Cup Odds & Predictions As USMNT-Mexico Clash In Final

The United States Men’s National Soccer Team is aiming to pu...

USWNT Looks To Repeat As Champion In 2019 Women’s World Cup Final

USWNT Looks To Repeat As Champion In 2019 Women’s World Cup Final

We have arrived at the final stage of the 2019 Women’s World...


Featured In

Business Insider
Yahoo! Finance
This web page is purely for entertainment purposes only, and may contain paid advertisements for online casinos, poker sites, and sportsbooks (including DraftKings, FanDuel, and others.) When you play online or in person at casinos, you are always at risk to lose the money that you are wagering, and Bonus Seeker makes no claim or guarantee that you will win money. When gambling at a casino, only risk what you can comfortably afford to lose. You must be 21 years or older, and a US citizen to register at online casinos in New Jersey and other states in the US. Whilst we try to ensure that this information is correct, we do not warrant its accuracy or completeness. The information provided does not constitute advice and is intended only to provide general information. Bonus Seeker and its partners will not be responsible for any errors or omissions and we will not have any liability or responsibility for any loss that arises from any reliance placed on information obtained from this article including, but not limited to, the comments submitted by third parties. If you should require any advice for gambling-related problems, please CALL 1-800-GAMBLER.

© Copyright 2019 - All Rights Reserved. Privacy Policy - XML Sitemap