BetMakers, headquartered in Australia, cut a 10-year deal with Monmouth Park in early 2020 to provide the infrastructure to deploy fixed-odds wagering, just as soon as it is made legal. The company also has agreements with Colonial Downs, Emerald Downs, Grants Pass Downs, Lone Star Park and the FanDuel site at Fairmount Park, plus three tracks in Canada.
Conspicuous by their absence, though, are the big boys and girls. The Stronach Group (its 1/ST Bet is a VSiN sponsor), the New York Racing Association and Churchill Downs Inc. are not yet on board. Their economic models are based on pari-mutuel wagering, and they no doubt would want a big piece of the action from the likes of BetMakers before allowing their races to be part of the fixed-odds menu.
Read O’Crunk’s take on the NJ Fixed-odds prospects
Eventually, however, they will fall in line. The public will demand it. This is not like the simulcast nickels and dimes that CDI and Nevada have been fighting over for close to two years. These are big bucks at a time when per-race betting has actually grown, in part because the sport never stopped during the pandemic. Anyone invested in the business of thoroughbred wagering will not want to lose out…
More on NJ and Fix-odds Horse Racing at sportsgrindentertainment.com
All signs indicate that New Jersey will become the first state to offer fixed-odds betting in horse racing. More importantly, next month N.J. Gov. Phil Murphy will be placing the first such bet July 17 at the Grade 1 Haskell at Monmouth Park.
