Tag: NCAA

New Jersey Horsemen Settle $150 Million Sports Betting Case For $3.4 Million

According to the Thoroughbred Daily News, horsemen in New Jersey have settled a years-long lawsuit with the NFL, MLB, NBA, NHL, and the NCAA for $3.4 million — far less than the $150 million the group claimed it was owed.

The settlement was reached out of court and entered into the record this week by U.S. District Court Chief Judge Freda Wolfson.

The $3.4 million will come from an escrow bond the leagues put up in 2014 when they first became entangled in a civil suit with horsemen while attempting to stop Monmouth Park from hosting sports betting. In 2018 a U.S. Supreme Court ruling made sports betting legal in New Jersey, and $150 million had been the figure the New Jersey Thoroughbred Horsemen's Association (NJTHA) claimed it had missed out on in the four years in between.

The escrow bond had originally been designed to cover revenue losses for a one-month period when Monmouth was subject to a court injunction barring sports betting at the start of the civil case.

In exchange for getting the bond amount, NJTHA will decline to pursue the case any farther.

Read more at Thoroughbred Daily News

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Judge Rules Against NJTHA’s Case Seeking ‘Bad Faith’ Damages From Sports Leagues

Judge Freda Wolfson, U.S. Chief District Judge in New Jersey, issued a ruling Dec. 3 in the New Jersey Thoroughbred Horsemen's Association case seeking “bad faith” damages from sports leagues, reports bloodhorse.com. The case stems from the fall of 2014, when those leagues—including the NCAA, NBA, NFL, NHL, and MLB—filed a temporary restraining order against the NJTHA, owners of Monmouth Park, to prevent the track from taking sports wagers.

On May 14, 2018, the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act, allowing sports wagering to commence in states like New Jersey.

The leagues had set aside $3.4 million in an injunction bond for the case, covering the 28-day period of the restraining order, but the NJTHA was seeking up to $150 million in “bad faith” damages for being unable to hold sports wagering from October of 2014 to May of 2018.

While Judge Wolfson is prepared to consider awarding horsemen the $3.4 million amount of the bond, pending a hearing to determine “provable damages,” she will not consider the “bad faith” damages claim at this time.

Read more at bloodhorse.com.

The post Judge Rules Against NJTHA’s Case Seeking ‘Bad Faith’ Damages From Sports Leagues appeared first on Horse Racing News | Paulick Report.

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