The Meadowlands Racetrack opened for sports betting this past weekend.
Opening just in time for the Wimbledon Ladies Final and the World Cup Third Place Game, sports betting opened right on New York’s doorstep on Saturday. The new sportsbook is just 6 miles from the largest city in the United States, and at the same sports complex as the New York Giants, New York Jets and horse racing.
The sportsbbook is operated by FanDuel, which was acquired by Paddy Power Betfair in May, and will be called The FanDuel Sportsbook at the Meadowlands Racetrack. It’s the fourth sports book in New Jersey, joining Monmouth Park racetrack, The Borgata Casino, and Ocean Resort Casino. At the moment, only in-person betting is offered, but they hope to have online and mobile live soon.
The new sportsbook offers 10 tellers at their Victory Sports Bar & Club, a 5.300 square foot area dedicated to sports betting. They also have 9 screens along the walls: 3 for odds, and 6 for various sporting events.
JUST IN: FanDuel Group confirms it will open its 5,300 square foot sports book at the Meadowlands Race Track in New Jersey on Saturday right by MetLife Stadium, will take bets in all major sports. pic.twitter.com/TzEicPGQMx— Darren Rovell (@darrenrovell) July 12, 2018
Betting was opened by former state Senator Raymond Lesniak, who placed $50 bets on France to win the World Cup and the Giants to win the Super Bowl. Various residents talked about bets they were placing on various events, from small $10 bets on the Toronto Blue Jays baseball team to $1,000 on Croatia to win the World Cup Final. There was even $20,000 placed on the Cleveland Indians to beat the New York Yankees (The Indians lost).
The first three sportsbooks took in over $16 million in wagers in the first two weeks, and The Meadowlands is on track to add a significant percentage to that number. In the first day alone, The Meadowlands had collected over half a million in bets, more in a single day than any other New Jersey sportsbook. The Meadowlands then added another $220,000 before noon on Sunday.
The potential for The Meadowlands is clearly higher, given two NFL teams playing in the same complex and its proximity to New York City. FanDuel hopes to take advantage of that fact and announced they plan to add five betting windows before NFL season begins in August.
Unfortunately for fans of local college football, there will be no Rutgers games available. New Jersey state laws won’t allow wagers to be placed on any high school or college games happening in the state, or any games involving a New Jersey team.
Jeff Gural, who runs The Meadowlands racetrack, was optimistic about the future of sports betting in the US:
"This is the beginning of a process that's going to change sports in America. Realistically, who watches football on a Thursday night, Jacksonville versus Cleveland, that doesn't have a bet on it?"
FanDuel Group’s CEO Matt King agreed, saying:
“The way people interact with sports is changing. We are on the cusp of something transformational.”
Once The Meadowlands has their mobile betting up and operational, they’ll begin offering more prop bets for more experienced bettors. Gural hopes to have betting get as specific as every individual pitch of a baseball game.
New Jersey casinos and racetracks hope this is only the beginning, as Atlantic City’s newly opened Hard Rock Casino hopes to be approved to open their own sports book (which will be run by Bet365).
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