Monday, 25 June, 2018


NJ Legislature Passes Sports Betting Bill | TDN

ImageMonmouth Park Racetrack in Oceanport N.J. will soon take bets on sporting ImageMonmouth Park Racetrack in Oceanport N.J. will soon take bets on sporting
Noah Ferguson | 11 June, 2018, 17:25

Dover International Speedway announced Friday that auto racing is now included among the full sports betting offerings at its neighboring property.

That exemption led to broader sports betting legislation passed in 2009 and Delaware's National Football League parlay wagering system, which gave the state a head start in offering more wagers.

"We are delighted to be up-and-running as the first - and now only - provider with a market ready solution for our partners in the new regulatory environment".

"That's something we're just not comfortable with", Sweeney said. "Places like Monmouth Park and Freehold Racetrack have been left in the dark for far too long".

"We believe the group's proprietary, omni-channel technology coupled with our extensive United States and global operating experience and trading expertise, positions us for long-term success". It is expected that two other major overseas sports betting operations-Ladbroke and bet365.com-will soon move to open operations in the state. Monmouth Park in Oceanport, near the Jersey shore, has been particularly vocal about wanting to start taking sports bets on Friday, hoping to capitalize on a big weekend of horse racing that is likely to flood the struggling track with cash-laden gamblers.

But some gambling industry officials are warning that Pennsylvania's 34 percent tax rate - plus another small cut for local governments that host casinos - and the $10 million licensing fee will make it unprofitable to run a legal sports betting business.

The Assembly voted 73-0 in favor, and the Senate voted 37-0.

He added, "I want to place the first sports bet in New Jersey if I can, but we want to make sure we do it right". The track has loudly wanted to begin taking bets Friday.

"Governor Murphy looks forward to closely reviewing the sports betting legislation that was recently passed by the Legislature", Murphy's press secretary, Dan Bryan, said in a statement.

Betfair US is a subsidiary of Paddy Power Betfair, one of the largest publicly traded sports betting companies in the world.

"Why do you think you're entitled to an integrity fee?" "The economic opportunities that sports betting will bring (will) create development, jobs and drive more people to Atlantic City to enjoy our great amenities".

Republican state Sen. Declan O'Scanlan says language was dropped from the bill that prohibited any sports betting facility from opening until the bill is signed.

That would have affected the Golden Nugget, which is owned by Tilman Fertitta, who also owns the Houston Rockets of the National Basketball Association.

"The legislation does not include basic protections to mitigate risks to the integrity of sports and to ensure fairness for New Jersey consumers", they said.

A clause to allow Golden Nugget Atlantic City to participate was added to the bill Thursday.

Gov. John Carney had the honor of placing the first bet, wagering $10 on the Philadelphia Phillies to beat the Chicago Cubs on Tuesday night.

The state's casinos and racetracks are itching to start taking bets on sports now that New Jersey has won a U.S. Supreme Court case clearing the way for it and all the other states to do so. He previously voiced support for sports betting before the details of an actual bill were written.

Now, any state is free to adopt laws legalizing it.

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