Monmouth Park, Oceanport, will open its 62-day 2022 thoroughbred racing season on May 7 and when it does, Fixed Odds wagering will be available. This will mark the first time in the United States that a racetrack will offer the new betting format as an option to
tote (pari-mutuel) odds.
Fixed Odds wagering allows bettors to retain the odds at the time of their bet, as
opposed to tote wagering, where odds are not finalized until betting is completed and the
race begins, according to a press release.
Monmouth Park’s meet will run through Sept. 18 and will feature 52 stakes races – 10 graded stakes – worth $8.305 million. The highlight of the meet is the Grade 1, $1 million TVG.com Haskell Stakes on July 23.
General admission (clubhouse or grandstand) at Monmouth Park is $6; a season pass is $100. Box seats are available starting at $30 for six seats. Valet parking is $15; all other parking is free. Children 12 and under are admitted free.
Gates open at 9 a.m. First race post time is 2 p.m. on opening day; 12:15 p.m. on Saturdays and Sundays and Monday holidays; 2 p.m. on Fridays and also on Mondays in August. Post time is noon on Haskell Day.
Regarding Fixed Odds wagering, Dennis Drazin, the CEO and chairman of Darby Development, LLC, the operators of Monmouth Park, said, “We are excited to finally be able to offer this new wagering opportunity to our fans.
“We believe this is just the start of what will be an extremely popular wager. For the first time, bettors can shop for the best odds and are not subjected to fluctuations that can occur in the tote pool.
“In both Europe and Australia, Fixed Odds wagering has a proven track record of success and we are confident it will be just as popular in the United States,” Drazin said.
Australia-based BetMakers Technology Group will deliver and manage Fixed Odds wagering at Monmouth Park, doing so with the Monmouth Park Fixed Odds slogan that “the odds that you bet are the odds that you get,” according to the press release.
Two areas specifically designated for Fixed Odds wagering will be available to start: The first floor grandstand paddock side and the first floor clubhouse paddock side, where tellers will be stationed.
Initially, there will not be self-service betting available for Fixed Odds, although that is expected to be added in the near future, according to the press release.
Fixed Odds will be displayed above the windows in the designated areas and will also be shown on every television that features Monmouth Park races. Fixed Odds will be
located to the left of the tote (pari-mutuel) odds on those TV screens.
Fixed Odds will also be shown on the main video board in the infield. Odds will be
continually updated throughout the day.
As an added feature, Fixed Odds markets will be available for advance wagering
within hours of the Monmouth Park card being finalized.
The minimum Fixed Odds wager is $1. There is no maximum bet, but any wager that is calculated to profit more than $5,000 on a win bet or $2,000 on a place or show
wager is subject to approval by the BetMakers Trading Department, according to the press release.
