Freehold Raceway Track May Soon Offer Sports Betting

It looks like Freehold Raceway is ready to get in on the sports betting fun!

It has been 20 months since sports betting was legalized in casinos and racetracks in New Jersey and now the oldest racetrack in the United States wants a piece of the action.

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The Freehold Borough Council were unanimously on board to ask the New Jersey Diviosn of Gaming Enforcement for a sports wagering license.

A basic plan has been discussed on how to bring the track into the existing sports betting community that exists here in New Jersey.

“What we have is a very preliminary two-page document that states their plan is to do some renovations within the envelope of the existing structure,” said Freehold Borough Administrator Steve Gallo. “They’re not adding anything new. It’s not going to trigger any major land use application or anything like that, and this is their first step towards getting a license from the DGE.”

Freehold Raceway has the opportunity to make some serious cash with this change.

Monmouth Park and the Meadowlands -- the two other racetracks in New Jersey -- have collectively brought in $250 in revenue.

The track would have to find a partner in sports betting but we don't know who that will be just yet. Monmouth Park's partner is William Hill and the Meadowlands is partnered with FanDuel.

So overall.....this plan is in the beginning stages and a lot can still change or even backfire before things are officially approved.