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Land-BasedSports BettingIndustry

Sports betting at Meadowlands Racetrack generates $3.5m in the first nine days

The Meadowlands Racetrack generated approximately $3.5m during the first nine days the operator began to offer sports wagering at the venue.

meadlowandsracetrack

Most of its revenue was generated from the two weekends that sandwiched a dead period for major professional sports caused by basebal'sl All-Star break.

The Meadowlands opened with just one day remaining in the World Cup while the All-Star break was just beginning. Despite there being little to bet on, the organisation is satisfied with the revenue they generated.

Meadowlands operator, Jeff Gural, told The Associated Press: "We did Ok. Our goal the first weekend was to exceed $1m which we did. The next four days were quiet with nothing to bet on due to the All-Star break."

Gural said he expected the racetrack to be one of the dominant players in New Jersey’s sports betting market.

The Meadowlands is the fourth New Jersey organisation– following Monmouth Park Racetrack, Ocean Resort Casino and the Borgata in Atlantic City – to take sports bets after the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in mid-May.

The first three operators generated over $16.4m in bets from the 14-30 June during the first month in which they introduced sports betting.

With the football and basketball seasons scheduled to return in October, New Jersey operators can expect to receive more revenue from sports betting in the coming months.

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