Horse racing tracks in New Jersey may soon be allowed to introduce online gambling on their own premises if a new bill becomes law. On Thursday, the Racetracks Bill was passed 60 – 12 by the Senate and could be on its way to expanding New Jersey’s gambling landscape. If this happens, racing tracks will be able partner with Atlantic City casinos and finally enjoy some of the revenue generated by New Jersey’s online gambling industry. Under the new law, racetracks will be exempted from the current ban on ‘internet cafes’ to allow real money wagering. Tracks such as Meadowlands Racing and Entertainment in East Rutherford, and Monmouth Port Racetrack in Oceanport will be able offer igambling.
The law was introduced, in part to help New Jersey’s struggling racetrack industry.
“It would bring more traffic into the racetracks, and they need it desperately,” said Assemblyman Ralph Caputo, a former casino executive.
Addressing concerns that the expansion of gambling could have a detrimental affect on existing land casinos, the chairman and CEO of the Monmouth Park racetrack, Dennis Drazin said: “The casinos should realize that absolutely nothing will happen unless they agree to allow it through an agreement with a track. Nobody is forcing anything on them. This is really a win-win for the racing industry and the casino industry.”
Republican Assemblyman Robert Dancer said that New Jersey racetracks and casinos would both benefit from the changes in the gambling laws. He predicted that attendance at the tracks would increase and the online option added an attractive entertainment element.
The general idea is that racetracks would set aside an area where patrons could head to in order to wager online in between races. The casinos and the racetracks would be allowed to work out their own financial setups, so that the deal is agreeable to both of them.
New Jersey has made headlines recently as it heads a historical battle to have the US Supreme Court overturn the Professional and Amateur Sports Protection Act (PASPA). If successful, law makers believe that this would open the floodgate of individual states seeking to legalize and regulate their own sports betting industries.
