- Freehold Raceway is taking the necessary steps to open a new sportsbook.
- The future operator for the Freehold Raceway sportsbook is currently unknown.
- The expected sports betting revenue in New Jersey is expected to grow in 2020.
FREEHOLD, N.J. – On Monday, the Freehold Borough Council unanimously voted to support a sports betting application.
All new sportsbooks in New Jersey need to go through an application process to gain a sports betting license. The more support the group applying for a license has, the more likely they will receive a license. The Freehold Borough Council supporting Freehold Raceway, a harness track, will increase the chances the area will obtain a new sportsbook.
“They finally seem like they want to move forward,” said Steve Gallo, Freehold Borough Administrator. “It would certainly be a shot in the arm for the facility and a new experience for the region, so we are inclined to be supportive of the move.”
What The New Sportsbook Can Look Like
Freehold Raceway is currently owned by Penn National Gaming. The company is partnered with multiple potential sportsbook operators. Freehold Raceway could have a PointsBet, theScore, DraftKings, or Stars Group sportsbook. DraftKings already has New Jersey sportsbook operations in the state.
The current layout of what the sportsbook could potentially look like is unknown. There is a high possibility that mobile sports betting will be in the picture. The reason for that is mobile contributes to about 80 percent of New Jersey sports betting.
The Freehold Raceway sportsbook will likely be a welcomed addition to the New Jersey market. New Jersey revenue reports have shown that the New Jersey sports betting market has grown dramatically in the last two years. With more states legalizing sports betting and the activity becoming mainstream, that growth is slated to continue.
However, it could take a few more months before the Freehold Raceway sportsbook can actually open. Penn National Gaming first needs to decide which company will operate the sportsbook. Then the actual sportsbook needs to be built. Once that is all done, the Freehold Raceway sportsbook will open. In all likelihood, the sportsbook could open during the summer or fall of 2020.
Daniel is a writer that enjoys writing to inform readers. When Daniel was writing for The Borgen Project, he liked informing the world about victories in global poverty issues. Daniel is also an avid horse racing fan who has been going to the track with his father for over a decade betting the ponies. When he is not writing about sports betting or at the track, Daniel loves playing video games and watching sports in his spare time.