The FanDuel Sportsbook at Meadowlands Racetrack opened on July 14 to great fanfare. According to the Associated Press, in its first nine days of operation, the facility accepted $3.5 million in wagers.
Meadowlands sports betting likely to pick up soon
The handle report is probably a sign of bigger things to come. The sportsbook at the track is poised to see massive upticks in activity over the next few months.
The first, and foremost, reason for the increase will be the beginning of the NFL season on Sep. 5. The facility sits in the same complex and less than a mile from Metlife Stadium, the home of both the New York Giants and New York Jets.
A sportsbook within walking distance of an NFL game will be a unique situation in American history. In fact, for the time being, no other sportsbook in the US will have that distinction.
The nine days of operation also occurred during a general lull in sports action. Except for World Cup soccer, most of the major sports were on hiatus or, in the case of Major League Baseball, on the All-Star break.
FanDuel also just announced a partnership with Australian gaming company PointsBet. The gaming provider will bring its Spread Betting product to the US for the very first time, and the chance for big winnings should draw an extra batch of gamblers.
Finally, online and mobile wagering is still not active in New Jersey. Once it is, the Meadowlands should see a definite surge in its bottom line.
Racetrack management satisfied with the start
Meadowlands owner Jeff Gural told the Associated Press that he was pleased about the track’s initial performance. He cautioned that the large number in handle occurred even as the sportsbook operated at less-than-full capacity.
“We did OK,” Gural said. “Our goal the first weekend was to exceed $1 million, which we did. (This is) despite the fact that we are not at full strength and only have 10 live teller’s windows open.”
The track’s performance also stems from its advantageous location. In addition to its proximity to the MetLife Stadium, the facility is also a scant six miles from New York City and its millions of inhabitants.
Still, as with any new operation, there are some growing pains. Already, the track is dealing with complaints about its opening day vigs and communication issues with customers.
That said, it is unlikely that the sportsbook’s star will do anything but rise.