Borgata Holding on to Racebook While Others Look to Sports Betting
Sports betting is the hot topic of conversation across the US as individual states have been legalizing the option since the Supreme Court approved it back in May 2018. As the sportsbooks started to open, the racebooks offered at casinos would close. Before sports betting was allowed in the US, casinos were allowed to offer racebooks where horse race betting was on offer. While most operators are focused on shutting down such venues, the Borgata is ready to upgrade theirs.
The Borgata Casino opened their Moneyline sportsbook back in the summer, spending $11 million on the sports betting facility. While the operator is focusing on sports betting, they are not ready to let go of their racebook. They have applied with the state Racing Commission to renew their licensing to provide simulcasting.
According to NJonlinegambling.com, the director of the racebook and Moneyline, Tom Gable, stated that the simulcasting monopoly of the venue is about five years old. According to Gable, it appears as if the property will be able to hold on to their monopoly a little bit longer as no other property seems to be set to open a racebook.
Who’s Enjoying the Racebook Betting?
When considering who is enjoying racebook betting, Gable stated that the demographic is older. However, there are customers in their 30s, 40s and 50s that come in regularly to place bets on simulcasting.
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Since sports betting has launched, Gable says that some players will come in for sports betting and then also take part in horse racing. The sports betting sector is bringing in the younger demographic and they are showing an interest in horse betting as well.
The racebook will also bring in additional revenue dollars to other areas of the Borgata. Players who visit the racebook will perhaps stay at the property’s hotel but will most certainly dine on site as well as enjoy beverages.
Gable also pointed out that players who come to visit the racebook might bring others with them who want to play something else. You then have money spent at the table games, slots and more. Overall, the racebook can bring in more traffic which only helps the property to earn more revenues on a regular basis.
Integrating Sports Betting and the Racebook
Currently, the racebook at the Borgata has 100 seats and each seat has an individual monitor. There are 40 betting machines which allow gamblers to place a wager without having to leave their seat. The room also includes self-service betting machines.
For 2020, Gable has stated that the venue will be integrating racing and sports betting together. With the integration, horse and sports wagers can be placed at any window in the race and sports book or within Moneyline.
The double wagering option will be essential when major events take place such as the Super Bowl and March Madness. This will allow players to place wagers from anywhere instead of having to go to one specific place for a horse bet or sports betting. The change will certainly be appreciated by the players visiting the property.