Betfair signs two sports betting deals in the US

Betfair is the latest online gambling operator to make serious moves in the US market by signing deals with a US based racetrack and casino to provide sports betting facilities.

The Statue of Liberty

Betfair will initially offer a sportsbook at two locations in the US. © Pexels.

Long-term agreements have been made with Meadowlands Racetrack in New Jersey and Tioga Downs in New York that will allow Betfair to take sports bets at both tracks.

Meadowlands is a racetrack in New Jersey that is located next to the stadium of the New York Giants and New York Jets, while Tioga Downs is a commercial casino in New York.

The branding of the sports betting provider at each casino and track is not yet clear. Under the terms of the deal, the casino could issue a sportsbook under their own brands, or Betfair could launch a US sportsbook itself.

Betfair has recently acquired FanDuel, a US based fantasy sports betting site, and could use that brand as the company’s sportsbook in the US.

Speed will be of the essence, with the group hoping to have the sportsbook running by the time the new NFL season starts up in September.

Speaking about the deal, Kip Levin, CEO of Betfair US, said:

We could not be more excited to partner with Jeff Gural and his partners for sports betting in New Jersey and New York. Meadowlands Racetrack has the potential to be among the best, if not the best, sports betting venues in the US.Kip Levin , CEO Betfair US

New Jersey almost ready with regulatory framework

After the historic repealing of PASPA and the legalisation of sports betting just weeks ago, states have been scrambling to introduce a regulatory framework for sports betting.

New Jersey, who put in much of the legwork in getting sports betting legalised, almost has a framework in place after it voted unanimously to pass a bill covering the regulation and taxation of sports betting.

State Governor, Phil Murphy, is now left to give confirmation to the bill, which would officially allow sports betting in the state.

However, New Jersey has been beaten to the post by Delaware, who became the first state to take sports bets last week.

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