By Betting Buzz
Imagine somebody pitching you this idea: Let’s spend $3 million building a bar at place nobody wants go. And the whole purpose of the bar is to let people engage in an activity that’s illegal.
Sounds like a loser, right?
Not when it comes to sports betting.
New Jersey’s Monmouth racetrack was so sure the Supreme Court would eventually overturn a federal sports betting ban that it sank $3 million into renovating its bar into a wagering haven for patrons. Enter track operator and horseracing enthusiast Dennis Drazin, who’s long been campaigning for legalized betting in New Jersey
According to The New York Times, Drazin took over Monmouth in 2012 and devised a master sports betting plan. The bar is now waiting for the state’s gambling bill to become a law before it starts taking bets.
Nobody’s sure exactly when this will happen (the state is set to vote on June 7), but Drazin and his partners are hoping the bar is hopping with bettors by the time the 2018 NFL season kicks off. Until then, the huge screens for live betting odds will remain blank.
Monmouth could sure use the money since racing attendance has dropped off over the years and former Governor Chris Christie cut off subsidies to local racetracks in 2011. Drazin is also betting the sportsbook will revive the horse racing track and plans mobile betting options for customers.