EAST RUTHERFORD, N.J. — The Meadowlands Racetrack will be the newest sports betting venue in New Jersey on July 14.
Governor Phil Murphy officially ushered in sports betting in New Jersey when he made the initial wager at Monmouth Park a month earlier. Governor Murphy, an avid soccer fan placed the first bet — $20 on Germany to win the World Cup. It was a losing bet as the defending champions were eliminated during the group stage of the tournament.
Track operators and horsemen believe that sports books will be a good bet for the horse racing industry. Some of the money generated by sports betting will go to increasing purses and providing incentives for breeding horses in New Jersey.
After sports betting launched in the state, Mildred Fleming, President of the Thoroughbred Breeders’ Association of New Jersey said, “As of this morning the breeding and racing industry in New Jersey began a new life. Sports betting in New Jersey and throughout the country began a new era. In New Jersey, the breeding industry was suffering from a diminished crop of state bred foals and farms were disappearing from lack of business, but now opportunities in both areas are open to new beginnings.”
“We can thank Dennis Drazin and the State of New Jersey for their tireless efforts in achieving this monumental goal. For seven years Dennis dreamt it, believed it, and brought it to fruition. On behalf of the Thoroughbred Breeders’ Association of New Jersey, thank you for helping us achieve our dream of a flourishing foal crop in New Jersey and success in all aspects of the racing industry,” she said.
Sports betting became permissible when the United States Supreme Court struck down the Professional and Amateur Sports Protection Act on May 14 of this year. A short time later the state legislature unanimously passed sports wagering legislation and Gov. Murphy signed.
In June, Betfair US announced that it has reached long-term agreements for retail and online/mobile sports betting with Meadowlands Racetrack as well as Tioga Downs in New York.
Under the agreements, Betfair US will provide a full suite of cutting edge sports betting products to customers in New Jersey and New York pending legislative and regulatory authorization.
New York previously adopted legislation to allow sports betting at four casinos, one of which is at Tioga Downs, but the state still needs to define regulations. Nothing was completed before recess started on June 20.
Betfair US is a subsidiary of Paddy Power Betfair plc, one of the largest publicly traded sports betting companies in the world with leading brands Paddy Power and Betfair in the United Kingdom and Europe, Sportsbet in Australia and TVG in the US.
"We could not be more excited to partner with Jeff Gural and his partners for sports betting in New Jersey and New York," said Kip Levin, CEO of Betfair US. "Meadowlands Racetrack has the potential to be among the best, if not the best, sports betting venues in the US. Combining these premier facilities with the global sports betting prowess of Paddy Power Betfair is a great match and will enable us to bring an unparalleled sports betting experience to customers in the northeast."
Meadowlands Racetrack is located less than 10 miles from Times Square in the heart of Manhattan and in one of the most densely populated areas of the U.S. Rebuilt by Chairman Jeff Gural and his partners in 2013, the facility is state-of-the-art with modern and luxurious amenities for racing and sports betting customers.
Tioga Downs, located in Nichols, N.Y., recently opened one of New York's four commercial casino facilities featuring a hotel, entertainment center and modern casino floor featuring slots, table games and horse racing.
"Sports betting is a great opportunity for Meadowlands and Tioga Downs," said Gural, Chairman of New Meadowlands Racetrack LLC and Tioga Downs LLC., "We went through a diligent process and reviewed several options to provide customers with the best sports betting experience possible. In the end, Betfair's world leading products and experience proved the best choice. We are eager to get started with our partners, with whom we have had a long relationship for racing with TVG, on this exciting venture."
Sports betting will be available at the Meadowlands at 11 a.m., on Saturday, July 14. That evening is the Crawford Farms Meadowlands Pace featuring some of the top 3-year-old pacers in the country. There is an early post time of 6:35 p.m.
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