The claims made by Monmouth Park Racetrack are enormous! Furthermore, the amount that they are suing for has reached into the hundreds of millions. According to Monmouth Park, they spent over $130 million alone in legal fees. The racetrack claims that pro leagues & NCAA collaborated to suppress sports gambling. Which, at the time, sports betting was illegal in the U.S (except in Las Vegas, NV, OR, DE, & MT). So, this has become the defense of the professional leagues and the NCAA. Sure, it’s unfortunate for Monmouth Park who lost millions of dollars in revenue due to the battle. Although, at the time, nobody knew that in 2018 the law prohibiting sports betting would change. Not even Monmouth Park. Nor, the professional leagues that are at the center of this dispute.
Two sides of a coin
As for the pro leagues, they believe that the claims by Monmouth Park are petty & senseless. Also, the leagues stand together on the grounds that at the time it was against the law to wager bets on sports, which, is why they took action when Monmouth Park became partners with William Hill to open up a sports book. Additionally, they claim that they acted in good faith according to a sound law that was in effect at the time. Indeed, this did create significant losses of revenue for Monmouth Park; there is no denying that. On that note, the leagues $3.4 million that they put up should go to Monmouth Park without a doubt. The bond was in place in case the league’s lawsuit didn’t proceed and caused financial damage. In which, we now see that was the case and without result.
Counter lawsuits against pro leagues and NCAA
In conclusion, the initial lawsuit by pro leagues didn’t proceed, so case dismissed. The attempt to block legal sports betting in NJ has resulted in the repeal of PASPA. The timing couldn’t be any better for Monmouth Park who had spent millions of dollars in defense. It was the big break that they had been hoping for! But, unfortunately, the lost revenue is a figure that can only be put up for speculation and guesswork. But, it’s for sure in the 100 of millions mark. So, for Monmouth Park, we hope that they rebound from their losses and take advantage of the new laws in effect. They have been at the forefront of ending PASPA, and at a very high price, and they got what they were fighting for in the end. It’s time to move on now. Even pro leagues have embraced the new regulated market.