fixed odds

by Walter Toner Rainy afternoon on Cape Cod and I had a few minutes to kill, so flipped the channel to TVG for a quick flutter. I selected the filly Just Like Magic, approaching the gate at 7-5 as the recipient of a $10 win wager in the 3rd race Oaklawn (3/28). She charged up the rail and won. Final odds were 3-5. WTF. Sorry for the crudeness. Racing will never engage the next generation of punters with 15-27% takeout and NO fixed odds, when they can bet on sports...

MonmouthBets, the first legal and regulated mobile application for fixed odds betting on horse racing in the United States, has launched announced BetMakers Technology Group Friday. Approved by the New Jersey Division of Gaming Enforcement, the MonmouthBets app is now available for New Jersey residents to accept wagers on mobile devices ahead of Monmouth Park's 78th season beginning Saturday, May 13. In addition to being able to place bets on Monmouth Park races, New Jersey horseplayers can now place fixed odds wagers on races from Tampa Bay Downs, Canterbury Park,...

Edited Press Release The 2023 National HBPA Annual Conference closed with a lively discussion with three prominent horsemen who questioned the need, validity and overreach of federal legislation pitched as the so-called savior of racing while the industry heads into a challenging economic and logistical future. Bret Calhoun, Ron Faucheux and Jason Barkley participated in the Trainer's Talk panel moderated by multiple Eclipse Award-winning journalist and media specialist Jennie Rees and talked about everything from the Horseracing Integrity and Safety Authority, challenges facing small to mid-sized stables, finding and keeping...

The ever-expanding business of betting in America is in a difficult-to-predict flux right now, and one entity's risk is another's potential reward. "The gaming industry, generally, and horse racing, as a part of that, is one of the most dynamic industries on the scene today," Patrick E. Brown, a New York-based attorney who specializes in gaming and public policy, told TDN in a phone interview. "There's the obvious increase in sports betting and fantasy wagering, plus new technologies and advances making it so easy to wager. It's also way more...

HOT SPRINGS, Ark.--Dave Basler sees betting on table tennis in Asia and envisions it being replaced with horse racing in America's burgeoning sports books. "We can fill that void a lot of times during the day so that they don't have to play table tennis from China or cricket from Australia--things that people have no idea about," Basler, the executive director of the Ohio HBPA, said Thursday during a morning session of the National HBPA Conference at Oaklawn Racing Casino Resort. "That's not just attractive to sports books, that's attractive...

Despite COVID shutdowns, a total of $21.52 billion was wagered legally on sports in the U.S. in 2020, about twice what was bet on horse racing, and the gap will be even greater this year and for years to come. Sports betting is growing exponentially and an argument can be made that some of its success is coming at horse racing's expense. It's surely siphoning off dollars that otherwise might be available to racing's pari-mutuel pools and it has to be drawing existing and potential customers away from racing. Yet,...

Fixed Odds wagering will be available at Monmouth Park in the coming weeks after Gov. Philip Murphy signed legislation Thursday approving the new bet, with implementation awaiting regulatory approval from the New Jersey Racing Commission and the Division of Gaming Enforcement. Monmouth Park, working in conjunction with BetMakers Technology Group, will be the first racetrack in the country to offer Fixed Odds wagering, a popular bet in Europe and Australia. "We appreciate the continued support from Gov. Murphy and the state legislature, as well as Assembly Speaker Craig Coughlin and...

BetMakers' Dallas Baker joins the TDN Writers' Room to discuss bringing fixed-odds wagering to America.

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...

With racing's temporary opportunity as the only game in town, the TDN's Katie Ritz took a poll of some industry insiders known to like a good bet and asked them: what is one simple way that tracks could make betting more friendly for existing horseplayers and/or more effective at bringing in new players? As you'll see, none of them could stop at just one. PETER ROTONDO, Vice President Media & Entertainment, Breeders' Cup In terms of bringing in new people, I believe that new players should come from folks who...