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Jul 25, 2018
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So instead of the state creating things to improve health, improve education and even bring families together is more important than looking at a really fast way to get income into the state,” she said. The Meadowlands Racetrack becomes the fourth sports betting outlet in New Jersey, following the state’s U.S. Supreme Court victory in a case that cleared the way for all 50 states to legalize sports betting . Monmouth Park racetrack in Oceanport, near the Jersey shore, and the Borgata and Ocean Resort casinos in Atlantic City had already offered it. Those three outlets took in $16.4 million in sports bets in the first two weeks it was legal. Some of the money raised was bet on events which haven’t even happened yet, like the World Series. In taxes alone, New Jersey has raised almost $294,000. “There was no legislation done in New York, so everybody in New York has to come, if they want to make a legal sports bet, here to the Meadowlands or Monmouth or Atlantic City,” Monmouth Racetrack CEO Jason Settlemoir said. Legislators predicted sports betting would raise 20 to 40 million dollars in tax revenue per year.
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