The Book on Sports Betting: The House Holds the Cards

Saturday, 26 May, 2018

The NJTHA's motion said it is entitled to payment for lost revenue because the league plaintiffs' statements about the potential impact of sports betting were false.

The association filed a motion seeking damages in the New Jersey District Court in Trenton on May 24.

Now that the Supreme Court has paved the way to legalize sports betting across the US, novices may get the itch to go for broke.

New Jersey Senate President Steve Sweeney urged elected officials in all 50 states to not pay "integrity fees" to sports leagues as part of any sports betting bills they enact.

The lawsuit also states that "During the intervening years the Leagues' actions almost put Monmouth Park out of business, inflicted significant financial and emotional hardship on hundreds of innocent Monmouth Park workers, and jeopardized the continued viability of New Jersey's entire equine industry". "We know the leagues are wrong".

The NJTHA presented a certification from Chris Grove, a managing director at gambling consultant Eilers & Krejcik Gaming, that Monmouth Park's revenue from sports wagers between October 26 and November 21, 2014, would have been $10.2 million.

The leagues and the NCAA sued then-Republican Gov. Chris Christie twice, once in 2012 and again in 2014 after Christie signed a law lifting bans on sports betting at casinos and racetracks.

The lost revenue is based on figures from Nevada, the only place where sports betting has been allowed. The Leagues were ordered to post a surety bond in the amount of $3.4 million to be paid if it was later determined that Monmouth Park had been wrongfully enjoined. But the First State was ultimately limited by a federal court ruling to parlay betting on National Football League games.

"The leagues" assertions about the "imperative' need to stop the spread of sports betting can only be seen as a hoax foisted on the Court by the Leagues' top executives and in-house counsel". This month a Supreme Court ruling allowed all states to authorize legal sports gambling.

The association's motion is scheduled to be heard on June 18.