Summary: CG Technology is preparing to launch a mobile sportsbook in New Jersey, after partnering with the Meadowlands Racetrack.
Sports betting is spreading quickly across the United States, thanks to a legislative decision from May 2018. Last summer, the United States Supreme Court ruled that the Professional and Amateur Sports Protection Act is no longer valid. This opened the door for states to legalize sports betting operations within their borders.
Over the past few months, several states have already started offering services. Leading the charge is New Jersey. In the state, players have access to both online and land-based sports betting options. Just recently, an announcement was made regarding yet another mobile sportsbook in the works.
The Meadowlands Racetrack has partnered with CG Technology, a company based in Nevada, to offer a mobile sportsbook. The sports betting option will not be ready in the near future, more likely launching by the 2019 NFL season.
CG Technology’s CEO Parikshat Khanna commented on moving into the sports betting market of New Jersey, stating that the company is delighted to enter the market and bring their decade-plus experience catering to consumers in the biggest gambling market of the United States.
CG Technology is an early mover into the sports wagering industry of Nevada and always looked forward to a national expansion.
The Meadowlands is also confident in their partnership with CG Technology. CEO and Chairman of the Meadowlands, Jeff Gural, commented on the new venture stating that they are confident that the years of experience that CGT has will bring new and innovative offerings in the sports betting market that will appeal to sports betting in the mobile and online realm.
Sports betting is already in operation at the Meadowlands as the facility has a FanDuel Sportsbook as well as PointsBets. Speaking with PlayNJ, Jeff Gural stated that the Meadowlands is installing new betting kiosks. Fourteen kiosks are being added to the FanDuel Sportsbook. The machines are being placed near the betting windows of the facility.
According to Gural, around 50% of the bets involving horse racing are made via the kiosk machines. Adding machines will allow for more options when it comes to placing wagers. The goal is to have the new machines added by early next month. This would provide new betting formats in time for the NCAA Tournament March Madness.
The FanDuel Sportsbook has been quite successful at the Meadowlands. The venue has an upper hand in the industry as the facility is located less than 13 miles from New York City. This means that traffic to the facility consists of visitors from New Jersey as well as New York. For many New Yorkers, the trip to the Meadowlands is just a few minutes away, making it easy to place wagers on their favorite sports teams or events.
With the announcement of the upcoming mobile sportsbook, the Meadowlands Racetrack will eventually offer both online and land-based offerings. While the mobile option will not be made available in time for the upcoming March Madness, it will hopefully be ready in time for another lucrative time frame for the industry, the NFL season.