Meadowlands Racetrack to Bring Iconic SuperBook Brand to New Jersey
Posted on: April 1, 2021, 10:38h.
Last updated on: April 1, 2021, 01:09h.
The Meadowlands Racetrack says its final online sports betting skin is likely to go to the SuperBook, the iconic sportsbook brand of the Westgate Las Vegas.
Meadowlands owner Jeff Gural holds the rights to three online mobile sports betting skins, which are online licensing rights to partner with sportsbook operators.
The Meadowlands already has deals in place with FanDuel and PointsBet. FanDuel additionally operates the retail sportsbook inside the Meadowlands. Speaking this week with NJ Online Gambling, Gural says it’s his intention to bring the SuperBook brand to New Jersey.
The SuperBook at the Westgate Las Vegas is one of the largest sportsbooks in the world. The LED digital screen measures more than 4,250 square feet and features 63.2 million pixels.
In 2018, the SuperBook announced its plans to expand the sportsbook brand to new sports betting states. But it has since only entered Colorado.
Along with the Meadowlands, Gural owns two casino racetracks in upstate New York. Tioga Downs is a commercial casino with over 900 slot machines and more than two dozen table games, plus a FanDuel sportsbook lounge. Vernon Downs is a racino with 200 video gaming machines, but no table games or sportsbook.
New Jersey Market
New Jersey has emerged as the nation’s sports betting leader, and the great majority of the action is being wagered online.
Oddsmakers accepted more than $6 billion in wagers in 2020, and approximately $5.53 billion — or 92 percent — was facilitated remotely. That’s just fine with the state, as mobile sportsbooks share 13 percent of their gross gaming revenue in the form of taxes. Land-based retail sportsbooks are taxed lower at 8.5 percent.
The Meadowlands is the dominant player in the New Jersey sports betting scene. The racetrack’s two sportsbook partners won $206.4 million of gamblers’ bets last year. The Meadowlands held a nearly 52 percent market share of sports betting in 2020.
“We’re on a hot streak lately, but that could change,” Gural explained.
MLB Opening Day
Gural says the first and fourth quarter of the year has been the strongest for the Meadowlands’ sports betting business. That’s largely due to the NFL and college football being played during those periods.
But today, MLB begins its 2021 season, and both of New York’s teams are favorites for a deep postseason run. FanDuel has the Yankees at +550 and Mets at +1000 to win the World Series. The only teams with shorter odds are the Los Angeles Dodgers (+350), San Diego Padres (+800), and Chicago White Sox (+850).
The Mets are paying Francisco Lindor heavily after acquiring the superstar shortstop from the Cleveland Indians in the off-season. Lindor and the Mets announced today a 10-year, $341 million contracts. It’s the third-largest contract in the history of Major League Baseball.
Lindor is at +1200 to win the National League MVP.
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