First, gamblers complained the sportsbook opened with larger vigorish on Major League Baseball lines than any other sports betting operation in the country. In its second day of operations, the vigorish for lines on Major League Baseball games was rolled back to the industry standard of -110.
However, other sports bettors have now indicated the book didn’t have enough cash on hand to pay out several winning tickets this past Tuesday night.
For its part, FanDuel Sportsbook claims Tuesday’s ticket payout situation represents a misunderstanding of its published policies, releasing the following statement on Wednesday:
“The FanDuel Sportsbook’s business hours of operation last night were to 1 AM, as clearly posted throughout the facility. Once 1 AM hits, our cages are closed. We cannot take wagers or pay out wagers after that time. To be clear, there was no issue with cash on hand. All customers are welcome to return today to collect any winnings, or to mail in any winning tickets for payment.”
Tuesday’s MLB game between the Los Angeles Dodgers and Philadelphia Phillies went into extra innings and wasn’t complete until after 1 a.m. local time in New Jersey. A fact that could explain why some winning tickets were not immediately paid.
NJ sports betting regulations
Of course, New Jersey Division of Gaming Enforcement sports betting regulations stipulate sportsbooks must maintain a cash reserve of at least $500,000 or the amount necessary to cover its liability, whichever is greater. It is unclear whether or not The Meadowlands was in violation of the rule.
A rush to market could be blamed for the pair of opening-month issues. After all, the sportsbook opened barely a month after New Jersey legalized sports betting at casinos and racetracks.
However, the problems appear to have had very little effect on the popularity of the operation so far.
FanDuel Sportsbook success
The sportsbook took in more than $1 million in bets in its opening weekend. Over the course of its first nine days in business, it brought in $3.5 million. Particularly impressive numbers considering it included the MLB All-Star break. Plus, soccer’s World Cup just ended, and the start of the NFL, NBA, and NHL seasons are still months away.
Meadowlands Racetrack owner Jeff Gural told The Associated Press he is happy. After all. the FanDuel Sportsbook is operating with just 10 live teller windows open:
“We did OK. Our goal the first weekend was to exceed $1 million which we did. The next four days were quiet with nothing to bet on due to the All-Star break.”
The 5,300-square-foot sportsbook, built inside the track’s Victory Sports Bar, opened with room for almost 500 gamblers. However, an expansion will occur by the start of this year’s NFL season. Ultimately, it will see another five betting windows open and space made for up to 650.
The FanDuel Sportsbook is less than a half hour drive from Midtown Manhattan. This is a fact that has operators believing it has the potential to be the top sports betting venue in the country.