New Jersey gamblers were last month treated to shocking news from one of the prominent casino brands in the state. In a recent announcement, TwinSpires stated that as of June 10, 2022, it would stop providing its online casino and sportsbook to the state of New Jersey. This means that registered players on the platform should begin pacing up in preparation for the closure.
This is obvious shocking news to many stakeholders especially because New Jersey was among the first states to offer legalized NJ sports betting and that meant outright success to casino operators. With a lot more players joining the market even as this announcement rattles some people, a lot of questions are lingering on the minds of those who have held this brand in high esteem since it launched in the state.
If you are one of the affected bettors, you only have until July 11, 2022 to withdraw any money in your account, thus this information is crucial for Garden State bettors who use the online platform. This news is however not a surprise to industry critics who have been keenly following the market trends. The best indicator that this was going to happen came in the form of an announcement that was made by Churchill Downs in February 2021, communicating to its fans that it would no longer be an operator in the New Jersey online casino industry.
On Friday, June 10, all casino games and sportsbook betting operations by TwinSpires in New Jersey will be shut down. On that day, deposits will also be stopped. All the information regarding the eminent end of business for this organization has been posted on the company’s website for the public to scrutinize. It is a good idea for registered players to take time to go through the material – it will definitely not affect the decision to close but at least it will offer insight into the circumstances surrounding the closure.
What we cover
TwinSpires New Jersey is closed
To make sure they haven’t left any unattended funds, everyone with a TwinSpires NJ account should sign in again before the notice period elapses. The amount of money that bettors hold in their accounts should be withdrawn with immediate effect as it is only a few weeks to the announced closure of the betting site.
It should be mentioned that BetAmerica became TwinSpires last year, so the company clearly tried their best to save the business in the face of stiff competition. The New Jersey betting market is evidently tough owing to the fact that there are many long-serving betting operators running successful businesses. The veteran casinos are well endowed with capital resources and lavish premises that many bettors find hard to resist.
Players who encounter challenges when withdrawing money from their accounts should consider other ways like using the web app. By choosing withdraw after clicking the Person Icon (blue symbol) on the right side of the page, you may explore all available options. From there, TwinSpires provides the subsequent techniques:
- PayPal
- TwinSpires Prepaid Play+
- Online banking
- ACH
- Cash at Golden Nugget AC casino cage
What if you have open bets that are yet to be settled and you just cannot let your money get lost in the closure business? All active wagers are being left as they are and it is upon TwinSpires to settle as usual. Once the event is over, and your wager was successful, the operator will pay you through check. All such payments should have been settled with the respective claimants within 30 days of an event being determined to be a win.
The Cash Out tool is always an option that bettors can utilize in such matters of urgency to settle acclaim. This is a different option if you don’t want to leave a bet open while you wait for a check to clear. It is also a lifesaver in instances where a bettor has second thoughts about the success of a bet and would rather withdraw their wager.
A third option of getting bet money back when there are unsettled bets is called voiding – this is where a player just cancels the bet. Any wager that will not have been finalized after July 11 can simply be canceled. NJ residents can contact player services by dialing 877-774-7371.
Open slots for online casino and sportsbook at GNOG in NJ
TwinSpires’ exit action creates two additional open slots for Golden Nugget‘s online licenses. It now has the capacity to add a new player to the already large number of existing partners on its vast list of online casinos and sports betting apps. According to insider news, preference will be given to a company that will have an interest in both sportsbook and online casino infrastructure, similar to TwinSpires. The best online casino in the whole of New jersey at the present time is without a doubt Golden Nugget NJ for its offerings and amenities.
Even though TwinSpires is leaving the online sportsbook and casino business, it is still taking some bets until the closure date arrives. The company will continue to accept wagers on horse racing via its app (sadly not in NJ) and at a few retail locations.
TwinSpires is the owner of four retail sportsbooks at casinos spread across the United States, one of which is located in Pennsylvania (Presque Isle Downs Casino in Erie), the others being in Maryland, Mississippi, and Illinois.
Final Thoughts
It is not unusual for business to shut down even after decades of operation. The crucial component when this has to happen is to identify pointers that will act as lessons for the future and for other companies. TwinSpires has provided details of its closure for the public to scrutinize so there are multiple lessons to be learnt from that decision. Players will obviously feel abandoned but they eventually understand and move on.
