The New Jersey State Bar Association (NJSBA) hosted its Day at the Races meeting today, Friday July 12, with the focus on ‘The Most Important Legal Issues Out of the Gate in 2019’. The event, which took place at Oceanport’s Monmouth Park racetrack, was held to celebrate the change in sports betting law which, said the Bar, has invigorated the racing industry.
Summarizing the theme of the day, the Bar noted: It has been an exciting year for New Jersey sports fans. A year has passed since the United States Supreme Court struck down the federal ban on sports betting and Governor Murphy signed the law authorizing wagering on certain sporting events at casinos and racetracks.”
Speaking on a panel dedicated to issues involving the racing industry, moderated by Monmouth Park CEO Dennis Drazin, was former New Jersey Senator Ray Lesniak. In his address to guests and delegates, he said: “When the Supreme Court decided to hear our appeal, Dennis Drazin and I knew we were on the verge of victory and on June 14, 2018, I placed the first winning legal sports bet in New Jersey, on France to win the Men’s World Cup.
“Since then, less than one year later, sports bettors waged more in New Jersey than in Nevada which had a virtual monopoly on legal sports betting for more than 20 years. It took New Jersey less than a year to overcome that more than 20-year advantage.
“As far as the future of sports betting goes, my prediction is that sports betting will continue to provide for the growth of New Jersey’s horse racing and casino industries, the very existence of which were in serious jeopardy before sports betting brought them back to life.”