Drazin, Monmouth Nearly Certain of Favorable Sports Betting Ruling

[Wandering Eyes]

Monmouth Park held its annual press luncheon Wednesday, with much of the discussion centering on the prospect of sports betting arriving to the Jersey Shore oval in the near future. Dennis Drazin, CEO of Darby Development LLC, which operates Monmouth on behalf of the New Jersey Thoroughbred Horsemen’s Association, said he was extremely confident–just short of Joe Namath’s 1968 Super Bowl guarantee–that the track would win a pending decision in the Supreme Court that will allow for legalized sports betting in New Jersey.

“I’m about as positive as a lawyer can be that we’re going to win this case,” said Drazin, who said he can feel the anticipation of a favorable ruling rise each day on the Monmouth grounds. “People used to talk to me about racing and now they’re talking to me about sports betting.”

With much of the discussion centering around sports betting and its future implications, Drazin emphatically argued against the idea that sports leagues deserve an “integrity fee,” which would amount to a revenue share when Monmouth begins accepting bets. According to Drazin, the leagues had ample opportunities to discuss a similar arrangement before it became apparent that they would lose the case in the Supreme Court.

“They fought us at every path,” Drazin said. “And now they send lobbyists to Trenton trying to get a piece for themselves.”

Drazin acknowledged that any kind of integrity fee would be impractical, but suggested that–if anything–the leagues should be prepared to compensate sports bettors for missed calls by referees.

The arrival of sports betting, according to Drazin, would have a domino effect throughout the industry in New Jersey, helping rebuild a foal crop which reached as low as 79 in 2016 and providing raises for workers who have seen their salaries stagnate in the last decade.

The next potential date for a Supreme Court opinion on the New Jersey sports betting case is May 14, although the ruling could come as late as June 25.

 

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