After launching sports betting services, the Meadowlands Racetrack took close on $3.5m (€2.9m) in sports bets during the first nine days of operations.

Across the United States, there has been a sports betting boom of sorts, as lawmakers set about creating legislation to legalize the new industry within their borders. In May, the US Supreme Court struck down the PASPA federal ban on sports betting, which opened the door for individual states to begin setting up laws and regulations to start offering wagering on sports – Delaware was the first, quickly followed by New Jersey.

1. Maximum bet is 22 Euros, you can only bet if the match is a draw, home win or away win, and single game betting is restricted to a few high profile games, normally you have to bet on at least 5 games with.
2. The Meadowlands has partnered with Betfair US to offer sports betting at the track. It is a subsidiary of Paddy Power Betfair, one of the largest publicly traded sports betting companies in the world.
3. Meadowlands Exposition Center, New Jersey IAGA is pleased to support the upcoming Betting On Sports America conference and exhibit taking place December 1 - 3, 2020 in New Jersey, just across the.

New Jersey will host one of the largest sports betting conferences ever to be held in the United States later in 2021. The conference formerly known as ‘SBC Summit North America’ will now be known as ‘Betting on Sports America’ (BOSA) and will be held at the NJ’s Meadowlands Exposition Center, November 30 to December 2 due to the ongoing effects of the current global pandemic. The thrill of live horse racing is what really makes Meadowlands Racing & Entertainment the most unique choice for your occasion. Every space is designed to allow the best views of the races; everyone from beginners to seasoned bettors will enjoy rooting for their winner!

The Meadowlands sports betting begins

Earlier this month, the Meadowlands Racetrack was the latest operator in New Jersey to begin offering sports betting services. Having launched on the 14th, the venue was able to take in close to $3.5m (€2.9m) over a nine-day time frame, even though there was little to bet on. Basketball and the World Cup of soccer were over, and baseball was in the middle of a break due to All-Stars. However, the venue was still able to see a rush of activity, as players have waited years to be able to take part in sports betting.

Speaking to the Associated Press, Meadowlands operator Jeff Gural said: “We did OK. Our goal the first weekend was to exceed $1 million which we did. The next four days were quiet with nothing to bet on due to the All-Star break.”

Baseball was back in action this past Saturday and the racetrack was able to take in more than $650,000 (€555,842) with even more bets coming in on Sunday via baseball and other sports. Gural stated further that he was pleased with the performance of the track even though it was not at full strength and only ten windows were open with live tellers.

The Meadowlands offers a FanDuel Sportsbook, which will be expanded in the future. The facility is located in the complex where the New York Giants and Jets play their NFL games, so there is potential for more business this football season.

First two weeks a success

Sports betting officially launched in New Jersey on June 14, with Monmouth Park and the Borgata of Atlantic City the first to offer services. By June 28, the Ocean Resort Casino was in on the action. Within a two-week time frame, the sports betting industry of the state had taken in $16.4m (€14m) in sports bets, with close to $3.5m (€2.9m) earned in revenues.

The majority of the sports betting revenue was generated by Monmouth Park, with close to $2.3m (€1.9m) earned. The Borgata was close to the million dollar mark at $986,831 (€843,955), followed by Ocean Resort with $192,671 (€164,738).

Sports betting operators in the state expect football season to be quite busy. With preseason games kicking off in August and the official games set to begin in September, bettors are expected to waste no time getting their wagers in. For decades, players have been unable to place wagers on their favorite sports teams in a legal manner, so it is expected that millions will be wagered this year, with football season being the most popular time for sports wagering.

William Hill US has partnered with Monmouth Park to offer sports betting, with excitement building on the upcoming football offering. Commenting that he can’t wait until football season, CEO Joe Asher said: “While it’s still early, we’re obviously off to a great start. We always knew there was a big appetite for legal sports betting during the years of litigation, and now it is being proven.”

More statistics on sports betting via the casinos and tracks of the state will be revealed on August 14 by the state Division of Gaming Enforcement. It will be interesting to see how the venues fared in July with the addition of the Meadowlands.

NJ sports betting is expanding once again, and this time the new site comes via a partnership with Meadowlands Racetrack.

Nevada-based CG Technology is the newest player to announce plans to launch a NJ mobile sportsbook. Those who frequent Las Vegas sportsbooks may recognize the name.

While the announcement was made last week via a press release, the new platform will not be ready in time for March Madness betting, one of the biggest events on the sports betting calendar.

According to the press release, the start of the 2019 NFL season is the target launch date.

Fanduel Meadowlands Nj

Parikshat Khanna, CEO of CG Technology, commented on joining a crowded NJ sports betting market:

“We are delighted to enter the New Jersey market and bring forth our decade-plus of experience catering to customers in the country’s biggest gambling market. As an early mover in the Nevada sports wagering business, we always envisioned national expansion that would give American consumers more product options.”

Jeff Gural, chairman and CEO of New Meadowlands Racetrack LLC, is equally as excited about the partnership:

“We are confident CGT, with its years of experience, will bring some new and inventive offerings that will appeal to the New Jersey online and mobile sports wagering market.”

The deal is subject to approval by the New Jersey Division of Gaming Enforcement.

Meadowlands expects big crowds for March Madness

The addition of a third sports betting partner (joining FanDuel Sportsbookand the recently launched PointsBet) is not the only news coming out of the Meadowlands.

Meadowlands Sports Betting Odds

Gural chatted with Play NJ on Tuesday about sports betting and how things are going. He is equally excited about the news that 14 betting kiosks are being installed at the on-property FanDuel Sportsbook.

The machines are being placed near the betting windows.

He noted that 50 percent of the horse racing bets are placed on the machines. Adding the sports betting machines will, of course, allow more customers to place wagers.

The plan is to have them ready to go by early March, just in time for the NCAA Tournament. And speaking of March Madness, Gural expects the multi-day event to be a huge draw.

“I think the biggest crowds we will get will be for March Madness, especially the first week when there are multiple games at the same time. Just being able to watch all the games at the same time, I think we’ll have a big advantage.”

Of course, it was just a couple of weeks ago when FanDuel Sportsbook at the Meadowlands accepted Super Bowl betting for the first time. Gural said Meadowlands was crowded on Super Bowl Sunday but he noted the other playoff games drew bigger crowds.

Many of the bets on the big game were placed a day earlier.

New Jersey sportsbooks as a whole lost money — more than $4.5 million — on Super Bowl LIII. FanDuel was not immune to the downturn.

New York + FanDuel = success

The eight sportsbooks located inside of Atlantic City casinos have the advantage of being walking distance from slot machines and table games.

FanDuel’s retail sportsbook, on the other hand, gets the edge when it comes to location — 12.9 miles from New York City.

The Empire State has yet to kick off legal sports betting. It means New Yorkers looking to place legal sports bets are making the short trip to the Meadowlands or betting using the FanDuel app within New Jersey.

This includes the futures on the New York Yankees to win the 2019 World Series.

“I think we have the best location by far, especially without New York having sports betting,” Gural said.

Partnering with an established brand like FanDuel is another big draw. Prior to entering the NJ sports betting market last summer, the company built a national following via its daily fantasy sports offerings. The retail sportsbook opened its doors on July 14, and the mobile app launch followed on Sept. 1.

Meadowlands Sports Betting Hours

In terms of NJ sports betting revenue, the partnership resulted in solid financial returns. Based on December numbers released by the DGE (January’s will be announced on Wednesday), FanDuel enjoyed its best month to date with $5,532,837.

“I think FanDuel and DraftKings have a huge advantage from their fantasy days,” Gural said. “When you look at the market, FanDuel and DraftKings dominate the market.”

DraftKings operates under the ResortsAtlantic City license.

PointsBet, on the other hand, is still new to the market, having launched only in December. CG Technology will have to find its footing in a young but very robust market.

CG Technology and its Vegas connection

CG Technology operates the Tropicana, Venetian, and Cosmopolitan sportsbooks on the Las Vegas Strip. But the New Jersey offering will not include a retail location.

Fanduel Meadowlands Racetrack New Jersey

Reaching an agreement with the Nevada-based company will be the third and final online skin permitted under the Meadowlands’ license. While the deal remains a work in progress, Gural sees the company as a strong final piece. Its recent issues with the Nevada Gaming Control Board are not a concern.

“They really initiated the sports betting concept in Las Vegas with these luxurious sportsbooks and where you could bet on devices,” Gural said.

Plus, those regulars who place bets at the CGT-operated sportsbooks in Las Vegas, but reside in New York or New Jersey, will know the name. And brand recognition is everything in this new legal sports betting market.