Sports betting is a much-needed relief for the Meadowlands
The majority of the Meadowlands sports betting income is likely to come from New Yorkers crossing into New Jersey. However, the taxes from their wagering will go to Trenton , rather than Albany. Depending on the type of bet and the manner in which it was placed, the New Jersey government stands to collect up to 13 percent from sports wagers.
Legislators will be happy to do collect those taxes from a racetrack six miles from New York City. The news came as the Meadowlands continues to struggle. He mentioned the possibility that the Meadowlands might turn to simulcast and sports betting only.
Much of the difficulty in New Jersey horseracing comes from the lack of subsidies. Chris Christie ended that program in However, neighboring states still prop up their horse tracks, leaving New Jersey facilities at a distinct disadvantage. Earlier this month, Betfair announced that it would partner with the Meadowlands for its NJ sports betting plans. With any luck, this new source of revenue will help level the playing field. NJ online casinos offer hundreds in bonuses for new players.
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