N.J. Legalized Sports Betting. Will it Challenge Nevada? Help Horse Racing?

Exactly a year ago, Gov. Phil Murphy traveled to Monmouth Park racetrack in Oceanport and made history by placing the first legal sports bets in New Jersey.

He wagered $20 apiece on Germany winning the World Cup and the New Jersey Devils taking the Stanley Cup. Both bets were a bust.

But a year later, elected officials, industry leaders, and gaming experts say the Garden State’s years-long gamble to fight pro sports leagues — all the way to the U.S. Supreme Court — to legalize sports betting has paid off big time.

On a national level, New Jersey’s successful court case opened the door for sports betting to become legal across the country.

On a local level, leaders say, it has helped provide a jolt to the state’s casinos and horse-racing industries, created hundreds of new jobs, provided the state with a bit more in tax revenue, and given New Yorkers a new reason to cross the Hudson River.

“I would characterize New Jersey as a success story and model for the rest of the country,” said Daniel Wallach, founder of Wallach Legal LLC, the first law firm in the country with a focus on sports betting.

Murphy took it a …

Does Horse Racing Need To Make Changes To Keep Up With Sports Betting?

A gambler can walk into the Meadowlands Racetrack or Monmouth Park in New Jersey — or at racetracks in other states such as Pennsylvania and West Virginia — and go to the sportsbook there and place bets on sporting events. The “hold” by the books averages around 5%.

Or the gambler can make a wager on a horse race, either happening at that track or elsewhere via a simulcast TV feed. The hold for that bet is around 15-20%.

Is that a problem, now that sports betting increasingly is going hand-in-hand with horse racing?

The Thoroughbred Idea Foundation, a not-for-profit industry advocacy group, said it is, in a provocative report published earlier this year.

“Racing’s existing customers, including our best customers, will be wooed by fabulously funded sports betting agencies,” the article reads, “while future generations of potential customers will be avalanched by customized fixed-odds betting products featuring their favorite leagues, teams, and players. The opportunities will be endless.

“Over roughly the next two to three years, racing must adapt to these new market conditions — accepting fixed-odds and exchange wagering on its product; developing a new funding model to support the sport in light of this disruptive, well-financed and aggressive competition; significantly boosting and improving our marketing efforts; and innovating to create new types of bets for customers who will soon be taken by agile, forward-thinking sports betting outlets. The future of horse racing …

Kentucky Horse Tracks Paid For Their Own Video Gambling Regulations

When gamblers bet at the chirping, neon-glowing machines that stretch across Kentucky’s gambling parlors, they depend on a state commission to ensure they’re winning — or losing — fair and square.

The commission that oversees gambling depends on a consulting firm for advice about ensuring these systems, known as “historical horse racing” terminals, run legally and accurately. But when it comes to testing machines, records show the state’s regulatory commission let the tracks themselves fund and oversee the consultant’s work.

From 2012 to 2017, a consultant hired by the Kentucky Horse Racing Commission tested gaming machines at three gambling parlors associated with race tracks. But the horse racing commission was largely out of the loop from there: Keeneland, Ellis Park, Kentucky Downs and two machine manufacturers paid more than $845,000 for testing services with virtually no direct oversight from the horse racing commission, according to a review by the office of the Auditor of Public Accounts.

The commission didn’t even have copies of the invoices from New Jersey-based Gaming Laboratories International until it gathered them for the auditor.

The horse racing commission also asked the tracks to pay about $26,000 for the cost of the consultant’s work drafting new regulatory restrictions. The auditor’s office said he couldn’t find any law that allowed that arrangement…

Century Mile the horse racing future in Edmonton

Bye, bye Northlands Park. Hello happiness.

For several years, horsemen have been unhappy campers at the century-long home of horse racing in Edmonton. But not now. Not as they get ready for Opening Day of a new era of horse racing.

The first-ever thoroughbred race card at Century Mile goes to the post Sunday afternoon at 1:45 with high hopes of good times ahead for the industry.

“We all saw Northlands deteriorate to the point it was beyond sad,” said trainer Tim Rycroft, a veteran of 30 years on the track including a lengthy spell at Toronto’s Woodbine until returning to his hometown 13 years ago.

“You could tell the writing was on the wall. Nobody seemed to care there toward the end. It was once a really nice thriving place with a proud tradition,” he said of the track that once owned the title of being the per capita betting capital of the horseracing world.

“They were just letting it slide into the abyss,” he said.

“I loved it at Northlands Park. It was a great racetrack. Over the years it just deteriorated and deteriorated and the horsemen were told one B.S. story after another. It became terrible the way the horsemen were treated.

“They let the barn areas go to hell. Instead of fixing bathrooms and stuff their idea was just to slap a piece of plywood on the door and put up a big closed sign.

Get Free Sports Betting Money

An enjoyable and profitable activity for those who are into sports betting is online sports betting. There is no longer a need to troop to betting shops to wage on one’s favorite sports. To make online sports betting more attractive, online bookmakers are offering free sports betting money to new registrants on their site. These sites afford the best of the best wagering in sports like baseball, basketball, soccer, football, hockey and even horse racing.

There are numerous online sportbooks that are credible sites. Some of them are 888, LeoVegas, BetFair and Bovada.

Sports betting888 Sportsbook

Offered by 888 Sportsbook to new sign-ups is a welcome bonus of free sports bet money worth £30 if they deposit a minimum of £10 through promotional code. This promo mostly runs on a limited time frame so it is best to grab such offer quickly.

A newly-registered player is required to bet £10 real money on sports with odds of ½ or 1.5 for the £30 free sport bets credited to his account. However, the player has only 7 days to use the free bet or it will be forfeited. Restrictions on deposits/withdrawals, and company terms and conditions apply.

LeoVegas Sportbook

New sign-ups at LeoVegas using any mobile device is given up to £50 welcome bonus. Upon signing-up, the new registrant has to deposit a minimum of £10, bet twice at £5 per bet selection valued at 1.5, and get 2x his bet if he wins. The free sports bet money has to be used within 7 days to avoid forfeiture.

BetFair Sportsbook

A £100 in free bets awaits new registered players of BetFair. This huge welcome bonus is one way of attracting sign-ups, and introducing them to other offerings of BetFair. A player who bets £10 will receive £20, so placing five £10 bets gives a player the chance to actually get £100 free sports bet money. Of course, terms and conditions apply regarding cashouts of new registered players. Newly registered players have 30 days to use their free bet money on any sports with odds of 1.5. Win or lose, the £100 free sports bet money will be credited to the player within 24 hours.

Bovada Sportsbook

Newly registered players are given a 50% sign-up bonus of up to $250. This sign-up bonus bet comes with a 5x rollover rule and is good for 30 minutes. Weekly rebates are given players who are into horse betting regardless if they win or lose.

Slots free with bonus are not available at these sites but at online casinos.

Initiative would authorize casino gambling at Nebraska race tracks

A proposed constitutional amendment authorizing casino gambling at Nebraska horse race tracks may be on the general election ballot in 2020.

Lance Morgan, president and CEO of Ho-Chunk Inc., announced Thursday that a ballot initiative proposal has been filed with the secretary of state’s office.

Expanded gambling would generate an estimated $50 million in new state tax revenue that could help fund property tax relief and support public schools, Morgan said.

Nebraska is “missing out on taxes and proceeds from about $500 million that residents wager annually in surrounding states,” the petition sponsors said in a news release.

A similar petition effort in 2016 failed to acquire the required number of signatures.

As was the case three years ago, the initiative campaign committee will be called “Keep the Money in Nebraska.”

Accompanying the proposed constitutional amendment will be two statutory initiatives to regulate casino gambling.

Ho-Chunk, which owns the Atokad track in South Sioux City, is partnering with the Nebraska Horsemen’s Benevolent Protection Association to bring the issue to Nebraska voters.

Those connected to the racing industry have long viewed casinos as a lifeline for the state’s horse racing tracks, which have suffered through decades of decline.

In 2017, wagering on live races and races simulcast to the wagering facilities in Omaha, Lincoln, Grand Island and Columbus totaled $67.9 million, the lowest total since simulcast wagering was added in Nebraska in the ….

Racino Failure: Monticello Raceway casino closing

Monticello Harness track remains open

MONTICELLO – The casino operation at the Monticello Casino and Raceway will soon close, but the harness racing track will stay open for now.

Empire Resorts, the Monticello racino’s parent company, will close its electronic gaming operations at the track “on or about” April 23, according to a Securities and Exchange Commission filing on Tuesday.

Forty employees will remain at the raceway, while the operation’s other 160 can take jobs at the nearby Resorts World Catskills casino, also owned by Empire Resorts, or receive severance packages.

“We’re happy about the fact that they have offered jobs to laid-off members, and we’re constructively talking with the company about adding additional severance,” Hotel Trades Council, the union that represents most of the workers, said in a statement.

Empire Resorts Inc. said horse racing will continue. But, in a written statement and in an SEC filing, it made no guarantees about the track’s long-term future.

The goal for now, the company said, is to avoid cannibalizing revenues from the 2,157 slot machines and 150 table games at Resorts World Catskills in the Town of Thompson.

Plus, Empire Resorts, which has averaged losses of between $10 million and $13 million per month since it began its phased opening of the Resorts World Catskills last February, is looking to improve earnings…

Churchill Downs and Sports Betting

Churchill Downs Incorporated (CDI) (Nasdaq:CHDN) has announced an agreement with Golden Nugget Atlantic City (“Golden Nugget”) to enter into the New Jersey real money online gaming (iGaming) and sports betting markets, subject to sports wagering legislation and gaming license approvals. CDI is targeting the first quarter 2019 to begin accepting legal wagers for iGaming and sports betting in New Jersey.

“We are looking forward to offering integrated iGaming and sports betting products in New Jersey,” said Bill Carstanjen, CEO of Churchill Downs.  “We have the unique opportunity to leverage our knowledge and experience operating the largest legal online horse racing wagering business in the U.S. as we enter the iGaming and sports betting markets.”

“We welcome Churchill Downs, a respected U.S. gaming operator with online wagering experience, to New Jersey,” said Thomas Winter, senior vice president and general manager, Online Gaming, for Landry’s Golden Nugget. “The addition of their offering will allow Golden Nugget Atlantic City to cater to an even larger demographic of New Jersey online players.”

The Golden Nugget Atlantic City, located on Frank S. Farley Marina, is a premier resort destination, offering guests more than 740 rooms and suites.  The Golden Nugget has established strong brand recognition worldwide with locations in Las Vegas and Laughlin, Nevada; Biloxi, Mississippi; and Lake Charles, Louisiana.  Launched in November 2013, GoldenNuggetCasino.com is the number one U.S. online casino and was voted Operator of the Year three years in a row from 2015 to 2017 at the iGaming North America Awards.  Golden Nugget Atlantic City accounts for 35% of the New Jersey online gaming market.

Churchill winner's circleChurchill Downs Incorporated (CDI) (Nasdaq:CHDN), headquartered in Louisville, Kentucky, is an industry-leading racing, gaming and online entertainment company anchored by our iconic flagship event – The Kentucky Derby.  We are the largest legal online account wagering platform for horseracing in the U.S., through our ownership of TwinSpires.com and have announced our plans to enter the U.S. real money online gaming and sports betting markets.  We are also a leader in brick-and-mortar casino gaming with approximately 10,000 gaming positions in eight states.  Additional information about CDI can be found online at www.churchilldownsincorporated.com.

Source: Press Release

U.S. Supreme Court Rules in Favor of Legalized Sport Betting

The United States Supreme Court building in Washington DC.

Monday, May 14, 2018

According to CNN: “The Supreme Court cleared the way [today] for states to legalize sports betting, striking down a 1992 federal law that had prohibited most states from authorizing sports betting.

The court said the federal law violated constitutional principles limiting the federal government from controlling state policy. It unconstitutionally required states to prohibit sports betting under their own laws.
More updates to follow.

Annual Report on Casino Gaming’s Impact on PA’s Horse Racing Industry

racino slots machinePennsylvania Gaming Control Board Releases Latest Casino Data

HARRISBURG, Pa., April 2, 2018 /PRNewswire-USNewswire/ — The Pennsylvania Gaming Control Board released the Annual Racetrack Casino Benchmark Report detailing the impact of Pennsylvania casinos on the Commonwealth’s horse racing industry. The report is now available for download from the PGCB’s web site www.gamingcontrolboard.pa.gov. The report includes and compares information from the 2017 calendar year.… [Read more…]