Legalized sports betting in NJ: Who are the winners and losers?

Posted May 15, 2018 at 06:04 AM | Updated May 15, 2018 at 07:03 AM

By Keith Sargeant | NJ Advance Media for NJ.com

As an attorney, Dennis Drazin lists personal injury, medical malpractice, premises and product liability and toxic torts as his areas of practice.

As a thoroughbred owner, Drazin bred various horses that won a total of 175 races and earned nearly $5.7 million in lifetime earnings.

Until recently, he was best known as the president of the New Jersey Thoroughbred Horsemen’s Association and the CEO of Darby Development LLC., the operating company of Monmouth Park.

On Monday, he became nationally recognized as the man who spearheaded New Jersey’s win in the United States Supreme Court.

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Photo by Bill Denver | EquiPhoto

“As a lawyer I’ve believed in this issue from Day 1,’’ Drazin said, hours after the highest court in the land repealed the 26-year old law federal law that banned sports betting in all but four states. “I was confident from the day I walked out of the (Supreme Court) courthouse until today that we were going to win this case. I think there were a lot of important people that deserve credit. Did the New Jersey horseman association take the lead? Did I? Yes. it’s very satisfying, it’s very gratifying. Personally, as a lawyer, it doesn’t get any better to be right on something so historic for this country.

“I don’t think anything else in my career will exceed it.’’

In the span of six days, Drazin stood at a podium for two press conferences that spanned an average of 45 minutes, fielding dozens of questions on the impact of sports betting becoming legalized in New Jersey.

“We’re grateful that the Supreme Court has recognized that we've been right all along,’’ Drazin said. “We can now shift our focus on commencing sports betting, which will be off and running at Monmouth Park as soon as possible.’’

Addressing reporters Monday, Drazin said Monmouth Park could be operating as a sports book by Memorial Day weekend.

“This is a privilege and an honor to be the chairman and CEO of Monmouth Park to try to preserve racing here in New Jersey,’’ he said. “It’s been a battle for (financial) survival since 2012. Everyone counted us out. We kept persevering.

“Despite all those who felt it was almost like Don Quixote tilting at windmills, we have won. There does come a day where Goliath is defeated by David.’’

Video by Keith Sargeant | NJ Advance Media for NJ.com

While Drazin might’ve been the biggest winner on a landmark day in New Jersey sports history, there were plenty of other winners because of the landmark Supreme Court decision. And there were losers, too.

Here's a look at the biggest winners and losers after New Jersey won its right to legally offer sports betting:

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