New Jersey’s Monmouth Park will enter the Daily Fantasy Sports market later this year thanks to a marketing partnership with Fantasy Sports Network (FNTSY).
Although a definite launch date hasn’t been announced, representatives for Monmouth Park Racetrack confirmed that a fantasy sports platform will go live “in the coming months“.
The news will come as a pleasant surprise to many sports fans in New Jersey as it marks the first step towards legal sports betting within the state. So far New Jersey has struggled to enact legalized sports betting within its boundaries thanks to an embargo by the major sports leagues in the US.
An Alternative to Sports Betting
Although this matter is still making its way through the court of appeals, a resolution in the coming months is unlikely which makes the latest news regarding fantasy sports all the more significant. In fact, the news couldn’t be better timed as it will serve as a welcome distraction for those tracking New Jersey’s sports betting appeal. According to those close to the issue, the latest appeal is due to be submitted to the Third Circuit Court of Appeals later this week and this will set a precedent for the oral arguments which will take place on March 17.
As it stands, Daily Fantasy Sports (DFS) isn’t considered “sports betting” by US officials which means it falls outside of the Professional and Amateur Sports Protection Act (PASPA) of 1992. Because of this, the industry has flourished in recent years with companies such as DraftKings FanDuel offering millions of dollars in prizes each month.
This recent surge of interest in DFS has prompted New Jersey’s Monmouth Park to join the hype train and offer state residents a form of sports betting. As mentioned, FNTSY will assist the racetrack with the online aspect of the venture and help it select a suitable website vendor in time for the start of the 2015 football and baseball seasons.
“Fantasy Sports Network is a tremendous partner as Monmouth Park looks to strengthen its gaming and entertainment presence in New Jersey and across the national market. Aspects of the partnership include brand cross-promotion, and development of an on-site presence at the track, including a Fantasy Sports Weekend prior to the start of the 2015 football season,” said Monmouth Park’s Vice President of Operations, Bill Knauf.
A New Option for Garden State Gamblers
The addition of “sports entertainment“, as described by FNTSY’s Louis M. Maione, will be yet another string to Monmouth Park’s virtual bow. At present the racetrack offers a season-long racing game known as Survival at the Shore as well as the one-day Haskell Challenge which requires players to pick 14 race winners in an effort to accrue that largest virtual bankroll. The richest fantasy tipsters at the end of the day are then presented with a selection of prizes.
The format of these games is similar to the model offered by DFS and this is something Monmouth Park’s operators believe will help DFS become extremely popular with both regulars and newbies.
As stated, the launch date for the Monmouth Park Daily Fantasy Game hasn’t been announced, but the if things go according to plan then FNTSY’s Maione believes the paid for service will breathe new life into the venue’s gaming operation.
“Already on the cutting edge of Thoroughbred racing, Monmouth Park is now expanding into one of the most exciting areas of sports entertainment and interactivity, one that is experiencing continued exponential growth. Adding our fantasy expertise and distribution will allow Monmouth Park to take-off with this endeavor, catering to fantasy enthusiasts in both local and remote locations,” Maione explained in a press statement.
For a look at Monmouth’s Park’s current offerings interested parties are encouraged to check out the racetrack’s website and for more details on the impending launch of its DFS platform, make sure you check out PlayNJ.com in the coming weeks.