The chairman of the company that owns and operates Monmouth Park Racetrack said that “Without sports betting, we’d be closed” when speaking at the opening of the track’s brand new Caesars Sportsbook facility. Partnerships like the one between Monmouth Park and Caesars are often beneficial … Read more
New Jersey hiked its online gambling tax to 19.75%, up from 13% for sports betting and 15% for iGaming. Operators tied to low-revenue casinos like Caesars Atlantic City, Ocean Casino, and Monmouth Park may face an existential threat. Rising costs and shrinking margins could push … Read more
Sportsbooks in New Jersey kept over $1 billion from their near $12 billion handle. Parlays represented 25% of NJ’s sportsbook intake but over 50% of their revenue. Basketball ($2.68 billion) beat out football ($2.30 billion) as the sport with the most money bet on it … Read more
New Jersey saw $578.7 million wagered on sports in July. This was a decrease of 25% month-over-month compared to June’s betting handle. This is the first time since July 2020 that sports betting handle fell under $600 million in the Garden State. TRENTON, N.J. – … Read more
New Jersey horse racing has favorable odds of seeing fixed-odds legislation pass. Currently, horse racing in the Garden State does not offer fixed odds for their races. A bill proposed to allow this is two positive votes away from landing on Governor Phil Murphy’s desk … Read more
A ruling on the long-standing lawsuit may be coming soon. The New Jersey Thoroughbred Horsemen’s Association initially sought $150 million in lost revenue as well as the $3.4 million bond applied by the leagues. Judge Freda Wolfson denied the claims for lost revenue, but a … Read more
The New Jersey Thoroughbred Horsemen’s Association (NJTHA) of Monmouth Park Racetrack is hoping to win $3.4 million from the professional sports leagues from an issue that happened in 2014. This case has faced a handful of judges and each time the leagues have won. Monmouth … Read more
Freehold Raceway has opened a sportsbook and entered the booming New Jersey sports betting market. The racetrack location may bring in more customers by providing a closer location to place sports wagers. The online platform of the sportsbook is waiting for approval and officials believe … Read more
New Jersey is looking to get esports and other events approved for wagering with A637 and S2670. With the popularity of esports, the Garden State believes it to be a very profitable addition for gamblers in the state to help the industry with revenue that … Read more
Monmouth Park will soon introduce fixed-odds betting for horse racing. Fixed-odds will first be available in betting kiosks and then through mobile apps. If successful, Monmouth Park will be the first track in the U.S. with fixed-odds horse racing betting. OCEANPORT, N.J. – Monmouth Park … Read more
New Jersey bill A637 would allow esports and other events to be made legal in the Garden State for wagers. Dennis Drazin, a pillar in the sports betting community, discussed what A637 would do should it be made legal in New Jersey. Since legalizing sports … Read more
The four major North American professional sports leagues filed to dismiss a $150 million legal claim by the New Jersey Thoroughbred Horsemen’s Association (NJTHA) on Monday. Their claim is predicated on the fact that the leagues were responsible for an injunction on legal New Jersey … Read more