TRENTON, N.J. — The New Jersey Racing Commission is accepting comments on proposed rules regarding sports wagering at racetracks and former racetracks in New Jersey.
On June 11, Gov. Phil Murphy signed Assembly Bill 4111, allowing sports betting at New Jersey casinos and racetracks for certain professional and collegiate sports or athletic events. On June 13, The New Jersey Racing Commission adopted rules governing the licensure of sports betting locations. The next day, the first legal sports bets were placed in New Jersey.
Since then, sportsbooks have opened at Monmouth Park in Oceanport, N.J. and The Meadowlands in East Rutherford, N.J. as well as at casinos in Atlantic City and online only venues.
New Jersey has been preparing for legalized book making since 2011 when the state's voters approved a referendum amending the state's constitution to allow for it. However, federal regulations prohibited sports betting in most states outside of Nevada. A many years-long legal battle ended in May 2018 when the U.S. Supreme Court overturned the ban.
New Jersey responded quickly with a bill that authorized the Division of Gaming Enforcement and the state Racing Commission to issue emergency regulations for a period of up to 270 days to govern sports betting. These regulations allowed for already-licensed casinos and racetracks to apply for a transactional waiver that enabled them to set up shop.
The emergency regulations are schedule to expire on March 10, 2019, and the Racing Commission has published a proposal for permanent rules. Among other things, the proposed rules govern the conduct of sports wagering or an online sports pool by racetrack permit holders or certain eligible former racetracks, as well as the operation of a joint sports pool run in conjunction with a casino, at a racetrack or former racetrack, according to the public notice.
A complete summary of the proposed rule amendment is posted on the New Jersey Racing Commission Web site at: www.nj.gov/oag/racing/proposed.html
Public comment on the proposed rule will be accepted until Jan. 4, 2019.
Direct all comments to: Judith A. Nason, Acting Executive Director, Department of Law and Public Safety, New Jersey Racing Commission, P.O. Box 088, Trenton, N.J. 08625-0088 or NJRCWebinfo@lps.state.nj.us.
Meadowlands and SBOANJ Reach Agreement
On Dec. 1, the Meadowlands Racetrack and the Standardbred Breeders and Owners of New Jersey announced that they have reached a revenue sharing agreement for the next 10 years that will annually add a minimum of $1 Million from the sports betting monies to the purse account.
“With a bill for a five-year $100 Million purse appropriation scheduled to be introduced in the legislature shortly, we are all hopeful that we will be able to continue our good work with the SBOA and bring the Meadowlands back to its stature as a premier racing venue” said NMR Chairman Jeff Gural.
SBOA President Mark Ford was equally enthusiastic, imploring all horsemen to reach out to their legislators to let them know how important this bill is to the future of racing and breeding in New Jersey, while also reminding horsemen that “if you are betting sporting events be sure to place your bets with FanDuel at the Meadowlands or use the FanDuel app, as a portion of every dollar you wager will show up in the purse account.”
According to monthly revenue reports from the state, in the five months since sports betting began the state has taken in $4 million in tax revenue. In October, sportsbooks took in more than $260 million in wagers for the month. That was an increase of 41 percent over September, which was nearly double the wagers in August.