Five decades after making legal betting history, Monmouth Park Racetrack is raising the stakes on their retail and online sportsbooks in New Jersey.
Dennis Drazin, President and CEO of Darby Development, the operator of Monmouth Park, said he is optimistic for groundbreaking on a new Caesars sportsbooks by the end of this summer. The Caesars betting outlet will be in a different location than the track’s former William Hill sportsbook.
Few details about the new sportsbook plans have been released. PlayNJ reached out to Monmouth Park for additional information, but the facility did not provide a comment. This story will be updated with additional information as it becomes available.
Caesars Sportsbook approaching, MonmouthBets on the market today
MonmouthBets, the first legal and regulated mobile app for fixed-odds NJ horse betting, went live recently, just in time for the start of the racing season. In May 2022, Monmouth began accepting fixed-odds bets on horse racing, becoming the first track in the state to do so.
“We’re excited about the prospect of being able to offer fans the ability to bet online, as easily and conveniently as they now do with wagering, through this innovative app for fixed-odds horse racing,” Drazin said in a statement. “We believe it will attract new customers, drive growth, and significantly increase handle.”
State gambling regulations allow Monmouth Park to have three online sportsbook operators, or skins. Caesars (formerly William Hill) and BetRivers (Rush Street Interactive) operate sportsbooks in NJ under Monmouth’s sports betting license. MonmouthBets, provided by BetMakers Technology Group, is the third.
“With last year’s retail offering setting the foundation, we are excited and honored to bring fixed-odds betting to horseplayers through the MonmouthBets digital platforms,” BetMakers CEO Jake Henson said in a press release.
“Fixed-odds betting will help form a more stable betting environment for horse racing in New Jersey and beyond, with the transformative potential to provide significant benefits for the entire racing industry.”
Monmouth inside the show posture of NJ-NEW JERSEY sports betting tracks… for now
The track’s retail sportsbook netted just under $3.3 million in revenue last year, according to state data. Three online skins reported nearly $17.1 million in 2022.
Since 2018, betting at Monmouth Park and through its online partners has generated over $124.4 million. The reported $34.8 million of revenue in 2021 was the track’s highest annual take.
Caesars Entertainment acquired William Hill’s US betting operations in 2021 for $4 billion. Reno-based Caesars began phasing out the WH brand across its land-based and online products last year.
May 13 is opening day of the 2023 season at the Oceanport Township horse-racing track.
Monmouth Park was the site of New Jersey’s first legal sports bet on June 14, 2018. State Governor Phil Murphy placed (losing) wagers on the World Cup and Stanley Cup winners.
David Danzis is a lead writer for PlayNJ. He is a New Jersey native and an honors graduate of Rutgers University. As a newspaper reporter for the New Jersey Herald and Press of Atlantic City, David earned statewide awards for his coverage of politics, government, education, sports, and business. Currently, he serves as PlayNJ’s Atlantic City “insider” and is an expert in the gaming industry, covering topics related to casinos, gambling, and online gaming. David resides in Mays Landing with his spouse and twins. When he is not at the beach, golf course, or snowboarding, David enjoys cheering for his favorite New York sports teams—the Yankees, Jets, Rangers, and Knicks.
