Fixed-Odds Wagering Era Begins at Monmouth

William Pascrell III, a partner with the Princeton Public Affairs Group, who was instrumental in bringing Fixed Odds to New Jersey, became the first person to make a Fixed Odds wager, plunking down $50 on Glider to win Saturday's 8th race, the Long Branch Stakes, with a definitive return of $275, should the horse capture the opening day feature race. 

"This is the culmination of nearly three years work to bring this exciting and new wagering format to New Jersey and to Monmouth Park," said Dennis Drazin, chairman and CEO of Darby Development LLC, operators of the racetrack.  "We are grateful to the hard work of all the stakeholders in this endeavor, the Division of Gaming Enforcement and to Governor Murphy and the entire New Jersey Legislature for once again being on the forefront of advancements in gaming and allowing us to usher in a new wave of wagering in the Garden State."

Advance Fixed Odds wagering on the eight-race Saturday card was made available on Friday when BetMakers Technology Group established morning line odds separate from the standard pari-mutuel morning line odds.

Fixed Odds wagering allows bettors to retain the odds at the time of their bet, as opposed to tote (pari-mutuel) wagering, where odds are not finalized until betting is completed and the race begins.

At the outset of the 62-day meet, Fixed Odds will only be available on Monmouth Park races and is limited, for now, to win, place and show wagering.

Australia-based BetMakers Technology Group is delivering and administering Fixed Odds at Monmouth Park, with initial lines being made available just a few hours after race cards are drawn and visible at www.monmouthbets.com and television monitors throughout the racetrack.

There will be designated tellers for Fixed Odds wagering in both the Clubhouse and Grandstand. Fixed Odds will be displayed on TV screens throughout the track on the left side of the tote odds so bettors can shop for the best value.

Monmouth Park's 77th season gets underway on Saturday with an eight-race card that will serve as a prelude to the Kentucky Derby. First race post time on opening day is 2 p.m. It will revert to 12:15 p.m. on Saturdays and Sundays for the remainder of the season with the exception of a noon start for TVG.com Haskell Stakes day on Saturday, July 23.

The Shore's Biggest Derby Party will be part of the opening day festivities leading up to the Kentucky Derby, with Best Hat and Best Dressed Couple selected throughout the day. Winners will receive a $100 bet on the Kentucky Derby.

There will also be Red Carpet photo ops at two locations: The Lady's Secret Cafe and the Grandstand fountains.

The $100,000 Long Branch Stakes for 3-year-olds headlines the opening day card. The $100,000 Serena's Song for 3-year-old fillies tops the Mother's Day card on Sunday.

            Parking throughout the meet is free. Admission is $6 -- for both the Grandstand and Clubhouse.