New Jersey Assembly Advances Fixed-Odds Wagering Bill
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Photo: Bill Denver/EQUI-PHOTO
Racing at Monmouth Park
The New Jersey State Assembly approved a fixed-odds wagering bill May 20 by a 74-0-1 vote that would permit the new betting platform, Monmouth Park announced May 21. The bill now moves to the State Senate, and if successful, to Gov. Phil Murphy for his signature.
"This is an exciting new wagering opportunity for our fans, and we're grateful for the support from our legislators and Governor Murphy, who continue to ensure the success of Thoroughbred racing in the state," said Dennis Drazin, CEO and chairman of Darby Development, the operator of Monmouth Park. "Our hope is that we can be up and running with fixed-odds wagering in time for the TVG.com Haskell Stakes on July 17—or sooner if possible."
Fixed-odds wagering allows bettors to retain the odds at the time of their bet, as opposed to pari-mutuel wagering, where odds are not finalized until betting is completed. The New Jersey track would become the first track in the United States to offer it, following tracks in other parts of the world.
Australia-based BetMakers Technology Group would deliver and manage fixed-odds wagering at Monmouth Park.
Monmouth's meet is set to begin May 28 with an altered jockey colony from previous years. Some leading riders have indicated they do not plan to ride in protest of the New Jersey Racing Commission's new, highly restrictive riding crop rule.