fixed-odds wagering

New Jersey moved one step closer to becoming the first state in the country to allow fixed-odds wagering on horse races when a bill that would authorize that form of betting was introduced in the New Jersey Legislature Thursday. The bill was introduced by New Jersey State Senator Vin Gopal and an identical bill has been sponsored by Assembly Gaming Committee Chairman Ralph Caputo and Deputy Republican Leader Assemblyman Ronald Dancer. With the bill enjoying bipartisan support, expectations are that it will pass and will be signed into law by...

by Thoroughbred Idea Foundation Have you noticed the explosion of sports betting legalization around America? As it stands now, horse racing is offered almost exclusively as a pari-mutuel wagering option, which often renders impossible the co-location of racing with other fixed odds sports bets. Be it Draft Kings, Fanduel, the new Barstool Sportsbook through Penn National Gaming, or any other provider in the growing number of states legalizing sports betting--racing is not amidst those offerings. That puts U.S. racing at a monumental disadvantage. In February 2019, the Thoroughbred Idea Foundation...

Darby Development LLC., the operator of Monmouth Park, has entered into a 10-year agreement with the Australian firm BetMakers in which BetMakers will manage and distribute fixed-odds betting on Monmouth's races, starting at this year's meet. For now, the agreement covers only Monmouth's races and New Jersey customers, but there is the potential for other jurisdictions to take fixed-odds betting on Monmouth's races and for other tracks to reach separate agreements with BetMakers to offer fixed odds betting on their races. BetMakers CEO Todd Buckingham predicted that fixed-odds wagering will...