As gambling laws continue to be loosened across the country, New Jersey is already seeing a big impact. One place that's already starting to make changes so it's ready for the new gambling scene is Monmouth Park Racetrack in New Jersey.
While gambling has obviously always been allowed at racetracks, the new gambling boom many experts are predicting could have a big impact. The loosening of restrictions could mean more competition in the bookmaker industry, which could hopefully mean better odds for punters. Even if this sort of benefit for gamblers takes a while to materialize, an increased interest in betting and the ability to place bets on your phone or before you arrive at the track could lead to more people through the gates at venues like Monmouth Park. If you want to see what odds are available at similar racetracks right now, you can check out betamerica.
One sort of venue that might not see any changes in the short-term is the professional sports stadium. New Jersey plays host to two "New York" NFL teams at MetLife Stadium in East Rutherford. Professional sports like the NFL and especially baseball have had problems with gambling in the past. While you should still be able to place bets on your phone or at home, it might be a while before these sorts of venues start hosting bookmakers on site like you can see in other parts of the world.
But horseracing tracks should see a big impact from the gambling influx. So how are places like Monmouth Park getting ready?
Over a million dollars has been put into refurbishing the tracks sports bar so that it can offer industry-leading betting options for visitors. The track has partnered with international betting giant William Hill to help achieve this.
Plans are afoot to pour even more money into the sports bar to take betting facilities to the next level. Monmouth Park certainly doesn't want to be left behind as the loosening of gambling laws across the country looks set to shake up the industry as a whole.
While laws still haven't been finalized, the racetrack doesn't want to be left behind when large-scale gambling in the state finally takes off.
Many other industry leaders like MGM are taking similar steps at their venues. New Jersey has long been a state that's been associated with gambling thanks to Atlantic City, but online operators don't want to be left behind, and bricks-and-mortar businesses don't want to miss out on the boom. Instead of lobbying against new gambling legislation to protect their existing businesses, New Jersey casino operators are best-placed to take advantage of a boost the whole industry could get.
Lessons must be learned from poker legislation over a decade ago that almost destroyed an industry. There's no reason for established land-based casinos to be at odds with online operators. Both markets can flourish and work well together as new gambling opportunities are opened up.
How is your local sports venue preparing for the new gambling climate? Are you ready to place your bets?