Sports betting ‘encouraging’ but don’t ignore Horse Racing, senator says

Sports betting ‘encouraging’ but don’t ignore horse racing, senator says

“It’s encouraging, but no one should assume that, ‘OK, we have sports betting now, we can ignore this industry going forward,'” O’Scanlon said.

He said that whether or not an individual person likes horse racing, there is no denying its importance to New Jersey. And there may be no more important single day than the annual Haskell Invitational, coming up on Sunday…”

 

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Source: Sports betting ‘encouraging’ but don’t ignore horse racing, senator says

NJ horse racing group sues major sports leagues over bet losses

The action filed by the New Jersey Thoroughbred Horsemen’s Association claims the leagues acted in bad faith when they sought a restraining order in 2014 to block Monmouth Park Racetrack from offering sports betting, because the pro leagues were actively promoting and endorsing businesses that made millions from fantasy sports games that rely on …

Source: NJ horse racing group sues major sports leagues over bet losses

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

NJ’s Christie to Attend Sports Betting Arguments at U.S. Supreme Court

A “cautiously optimistic” Gov. Chris Christie will be at the U.S. Supreme Court Monday to to lend moral support as New Jersey lawyers try to convince the justices to allow legal sports betting at Garden State racetracks and casinos. “I’m looking forward to being in court,” Christie told reporters at a public event in Newark Wednesday.… [Read more…]

New Jersey is the Only State where you can Wager on a Race horse in the middle of a race

horses racingExchange Wagering in New Jersey

While the average age of a horse racing bettor in the state is 61, the typical exchange bettor is 20 years younger.

HACKENSACK, N.J. — Keith Coppola bet on the 1 and 5 horses to win in a recent race that took place at Monmouth Park in Oceanport. The 7 horse wound up the winner — but it wasn’t a complete loss for Coppola. He wound up getting most of his $250 in original wagers back thanks to… [Read more…]

Trump administration asked to support N.J. sports betting appeal

Washington DCWASHINGTON — In his quest to legalize sports betting in New Jersey, Rep. Frank Pallone Jr. is seeking help from President Donald Trump’s administration. Pallone (D-6th Dist.) is asking Acting Solicitor General Jeff Wall in a letter to be sent Tuesday to request that the U.S. Supreme Court to hear New Jersey’s appeal of the latest… [Read more…]

Can New Jersey-bred in the Kentucky Derby actually win? Bet on it

LOUISVILLE, Ky. — Regret and Cavalcade, the names are faint echoes, hallmarks of a time in American thoroughbred racing when New Jersey was a lot more than a casual pit stop in the breeding business. They were the only Jersey-breds ever to win the Kentucky Derby — Regret in 1915, Cavalcade in 1934. They were to…

[Read more…]

Will Odds of N.J. Sports Wagering Increase Under President Trump?

WASHINGTON — The head of the casino industry’s trade association expressed optimism that incoming President Donald Trump and federal lawmakers will act to allow states to legalize sports betting.  The inauguration of the new president is this Friday.

During the campaign, Trump expressed support for legalized sports betting.

“I’m OK with it because it’s happening anyway,” Trump told Fox Sports in November 2015. “Whether you have it or you don’t have it, you have it.”

An estimated $150 billion a year is bet illegally on sports, according to the gaming association.

“We are entering a perfect storm,” said Geoff Freeman, president and chief executive of the Washington-based American Gaming Association, claims Caesars Entertainment and Borgata owner MGM… [Read more…]

Will New Jersey Enact Unregulated Sports Betting across the State?

TRENTON — A pair of state lawmakers are working on a new plan to end a seven-year quest and finally bring legalized sports betting to New Jersey. The idea: allow such wagering across the state, without regulation. Well, maybe some restrictions would apply. The goal of the bill from state Assemblymen Ralph Caputo and John Burzichelli,… [Read more…]

No Sports Betting in New Jersey

Baseball and bat_promo_smaller WASHINGTON — A federal appeals court on Tuesday threw out New Jersey’s sports betting law, once again blocking the state from expanding its gambling options to augment Atlantic City and the horse-racing industry. The Third Circuit Court of Appeals in Philadelphia ruled that the state’s law violated a 1992 federal ban on sports betting, the Associated… [Read more…]