The major US sports leagues might have to fork over some cash in their fight against New Jersey sports betting. The likes of the NHL, NBA, NCAA, NFL and MLB might soon have to pay for making Monmouth Park hold off on accepting sports bets in 2014.
The US Supreme Court had previously said that it would not hear appeals over a Third Circuit ruling, which decided that the leagues could be liable. However, the case has found its way back to federal court in New Jersey, and the picture is starting to be painted differently here.
The Third Circuit will now have to decide what the New Jersey Thoroughbred Horsemen’s Association, operators of the Monmouth Park, could potentially receive from the leagues. The Horsemen’s Association initially asked for $3.4 million in bonds created by the leagues to cover a temporary restraining order, including interest.
They also want an additional $150 million in damages. This is some serious cash to make up for lost time, but this is a serious matter.
Leagues fighting the cause
The five leagues mentioned above were the biggest ones against having New Jersey sports betting regulators attempting to allow their casinos and tracks to begin accepting bets in 2014. You could say that the leagues somewhat freaked out, but maybe that is an understatement.
Monmouth Park was about to cash in and be the first in the state to accept these sports bets. Then the leagues were able to successfully petition the Third Circuit and managed to get a temporary restraining order.
The court pointed in favor of the leagues and decided that the leagues would suffer irreparable harm if the track began accepting the bets.
You can read up on how this all began in this post by NJ.com.
The fight coming from the leagues was hypocritical in the eyes of the Horsemen’s Association. They were seeing that most of them were cutting deals anyway with daily fantasy sports operators.
Although DFS is not sports betting, it was about the closest and only option many Americans had at the time to win cash from such sporting events.
The leagues got what they wanted. That restraining order had a nice chunk of change domino effect, with one right after another. The leagues were able to come up with two $1.7 million bonds to cover losses from the orders.
Horsemen seeking more than the bonds
Even though those were considered temporary restraining orders, it made its way into delaying more than three years of NJ sports betting. The Horsemen’s Association sees this as unfair, and rightfully wants more than just the $3.4 million.
You could say that the Horsemen already have some positive momentum going for them. They were able to score a minor moral victory over the leagues. Monmouth Park was able to take New Jersey’s first legal sports bet a month after the PASPA fell at its William Hill-branded sportsbook.
What happens now?
This has turned into a hurry up and wait kind of game. Monmouth Park wants to get back to normal, and they want things to be fair. Sports betting has become the new normal now, and it is still finding its way across the US.
Monmouth Park is hoping for a real victory. They are going to have to sit and wait since it is now up to the Third Circuit to decide just how much, if any at all, the Horsemen’s Association gets.