fixed-odds wagering

Fixed-Odds Era Begins at Monmouth

OCEANPORT, N.J.-With a steady stream of customers showing up at the fixed odds windows, Monmouth Park's bold experiment with a new form of wagering the track hopes will energize the sport began Sunday. Fixed-odds betting was supposed to begin a day earlier, but the opening day of the 2022 meet was canceled due to bad weather. Monmouth did not release figures regarding how much was wagered on the fixed-odds bets, which made it difficult to assess how successful it was on day one. Because the bets are only available at...

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The Week in Review: Industry Needs to Embrace Fixed-Odds Wagering

Monmouth Park announced last week that it will begin to offer fixed odds wagering starting May 7, opening day of the meet. That was the good news. The bad news was that fixed odds betting will begin with a cautious rollout and without the major players in the sport on board. Starting Saturday, bettors on-track at Monmouth will have the choice of making traditional pari-mutuel bets or placing fixed odds wagers. Two areas of the track will be designated for fixed odds and the bets can only be made through...

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New Wagering and Dining Options Debut at Monmouth

Monmouth Park opens its 2022 meet May 7 with new wagering and dining options. The New Jersey oval will offer fixed odds wagering, allowing bettors to retain the odds at the time of their bet as opposed to tote wagering. "We are excited to finally be able to offer this new wagering opportunity to our fans," said Dennis Drazin, CEO and Chairman of Darby Development, operators of Monmouth Park. "We believe this is just the start of what will be an extremely popular wager. For the first time, bettors can...

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BetMakers' Dallas Baker Talks Fixed-Odds Wagering On Writers' Room

Sorely needed in the American horse betting landscape, fixed-odds wagering--bets where the player is guaranteed the odds displayed at the time he or she bets a horse and isn't affected by late parimutuel odds drops--is set to debut in the States later this month at Monmouth Park via Australian bookmaking company BetMakers. Wednesday morning, BetMakers' head of international operations Dallas Baker joined the TDN Writers' Room presented by Keeneland to discuss the logistics of implementing a fixed-odds system to try to replicate its success in Australia, how confident he is...

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Dallas Baker Joins the TDN Writers' Room

BetMakers' Dallas Baker joins the TDN Writers' Room to discuss bringing fixed-odds wagering to America.

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Eclipse Thoroughbred Partners Founder Aron Wellman Joins Writers' Room

Fresh off a Group 2 win last week at Royal Ascot, Eclipse Thoroughbred Partners' founder Aron Wellman joined the TDN Writers' Room presented by Keeneland Wednesday morning to talk about his ownership strategies, how he talks to new partners about concerns in the industry and much more. Asked about Eclipse's ever-evolving purchasing power, Wellman, who called in via Zoom as the Green Group Guest of the Week said, "We made a point when we launched Eclipse about 10 years ago to really try to prove ourselves at being good at...

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Fixed-Odds Wagering Bill Passes in NJ, Expected to Begin Haskell Day

A bill legalizing fixed-odds wagering on horse races was passed unanimously by both houses in New Jersey and will now go to Governor Phil Murphy, who is expected to sign it. Expectations are that fixed odds betting will begin July 17, the day of the GI Haskell S. at Monmouth Park. "We've been pushing hard to get it up and running by the Haskell," said Dallas Baker, the head of international operations for the Australian firm BetMakers, which will operate the fixed- odds betting. "That's always been our goal....

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Dennis Drazin Talks Eventful Monmouth Meet On Writers' Room

While the 2021 meet at Monmouth Park is less than three weeks old, several years worth of drama has already been packed in at the Jersey Shore staple this spring, and Wednesday morning, the track's chairman and CEO Dennis Drazin joined the TDN Writers' Room presented by Keeneland to discuss it all. Calling in via Zoom as the Green Group Guest of the Week, Drazin talked about the fraught implementation of the New Jersey Racing Commission's whip ban, the latest attempt by the Jockeys' Guild to put pressure on Monmouth...

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Fixed Odds One Step Closer for Monmouth

Fixed Odds wagering moved a step closer to becoming a reality during the upcoming Monmouth Park meet after the New Jersey State Assembly approved a bill on Thursday by a 74-0-1 vote that would permit the new betting platform. The bill now moves onto to the State Senate and if successful would then go to Gov. Phil Murphy for a signature. Monmouth Park's 76th season gets underway Friday, May 28. "This is an exciting new wagering opportunity for our fans and we're grateful for the support from our legislators and...

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TIF: Wagering Insecurity, Part 9–Alerts

This is Part 9 of the Thoroughbred Idea Foundation's (TIF) series "Wagering Insecurity." Faced with remarkable competitive pressure from the rise of legal sports betting, horse racing is at a crossroads. Confidence amongst horseplayers and horse owners is essential to the future sustainability of the sport. Efforts to improve the greater North American Thoroughbred industry will fall flat if its stakeholders fail to secure a foundation of integrity. Achieving this is growing increasingly difficult after the sport has neglected its core base--horseplayers--for decades. "Wagering Insecurity" details some of that neglect,...

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The Week in Review: Before Feasting Upon Thanksgiving Fare, Chew On This

Last week's headlines had little to do with on-track action. This coming week though, we awaken from the sport's annual post-Breeders' Cup snooze with an eye toward decent Thanksgiving weekend racing and on-the-horizon stakes that could add a touch of intrigue to the tail end of the 2020 season. But before you feast upon the holiday fare, chew on these side dishes that anchored the last seven days of the news cycle (plus a few other tidbits that didn't land on the front pages): Last Tuesday we learned via federal...

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Woodbine CEO Says Sports Betting Bill Could Devastate Canadian Racing Industry

A bill that would legalize single-event sports wagering in Canada and is now being debated by members of Parliament in the Canadian House of Commons would have a disastrous impact on racing, warns Woodbine CEO Jim Lawson. The bill does not allow for the racetracks to be part of the sports betting universe and, perhaps even more worrisome, it would allow non-racing betting sites to take fixed-odds bets on racing without having to share any of the revenue with the industry. "This is a real threat to the industry and...

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