Five years after making legal sports betting history, Monmouth Park Racetrack is upping the ante on its retail and online sportsbooks in New Jersey.
Dennis Drazin, chairman and CEO of Darby Development, operator of Monmouth Park, said he is hopeful for a groundbreaking on a new Caesars Sportsbook by the end of the 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 comment. This story will be updated with additional information when it becomes available.
Caesars Sportsbook coming, MonmouthBets available today
MonmouthBets, the first legal and regulated mobile app for fixed-odds NJ horse betting, went live this week, just in time for the start of race season. In May 2022, Monmouth started taking fixed-odds bets on horses, 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 wager online, as easily and conveniently as they now do with sports betting, through this innovative app for fixed odds horse racing,” Drazin said in a statement. “We believe it will attract new customers, drive growth and increase handle significantly.”
State sports betting regulations allow Monmouth Park to partner with 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 our MonmouthBets digital platforms,” BetMakers CEO Jake Henson said in a press release.
“Fixed-odds betting will help to form a healthy betting ecosystem for horse racing in New Jersey and beyond, with the transformative potential to provide a massive benefit to the entire racing industry.”
Monmouth in the show position of NJ sports betting tracks…for now
The track’s retail sportsbook netted just under $3.3 million in revenue last year, according to state data. The three online skins reported almost $17.1 million in 2022.
Since 2018, sports betting at Monmouth Park and through its online partners has generated more than $124.4 million. The reported $34.7 million of revenue in 2021 was the track’s highest annual take.
Caesars Entertainment bought out William Hill’s US sports 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 Gov. Phil Murphy placed (losing) wagers on the World Cup and Stanley Cup winners.
