pari-mutuel wagering

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...

A bill legalizing fixed-odds wagering on horse races was passed unanimously by both houses in New Jersey and will now go to Governor Phil Murphy, who is expected to sign it. Expectations are that fixed odds betting will begin July 17, the day of the GI TVG.com Haskell S. at Monmouth Park. "We've been pushing hard to get it up and running by the Haskell," said Dallas Baker, the head of international operations for the Australian firm BetMakers, which will operate the fixed- odds betting. "That's always been our goal....

The claiming period for pari-mutuel tickets and vouchers has been extended from six months to 12 months in the state of New Jersey thanks to a bill enacted by the New Jersey State Legislature and signed into law by Governor Phil Murphy May 11. "We appreciate the continued support that Gov. Murphy and our state legislators have shown for horse racing throughout the state," said Dennis Drazin, Chairman and CEO of Darby Development, LLC, the operators of Monmouth Park. "This legislation provides a much-need grace period for people who were...

Kentucky Governor Andy Beshear on Tuesday reaffirmed his vow to sign the historical horse race (HHR) gaming bill that passed both chambers of the state legislature last week, but he explained that a decision by the Senate to adjourn through this week means that the HHR-enabling measure won't become law until the end of the month at the earliest. Beshear's remarks came via videoconference at the start of the Feb. 16 KHRC meeting. After the governor spoke, commissioners unanimously voted in a series of "emergency" measures contingent on the bill...

Bill Finley's report (Week In Review) in the Feb. 9 edition of TDN on NYRA's action to restrict wagering on its Pick 5 and Pick 6 wagers by computer-assisted wagering (CAW) players caught my attention, as does any article written on this form of wagering, which I call computer robotic wagering or bots for short. My experience with the bots and their very smart and well- capitalized owner managers goes back 20 years or so. Then, as now, my opinion on wagering by the bots is that over the long...

A vote on the fate of historical horse race (HHR) gaming in Kentucky by the full House of Representatives could come as early as Thursday after lawmakers Wednesday morning continued to fast-track the "emergency" Senate bill to legalize the slot machine-like form of betting by defining "pari-mutuel wagering" to include previously run races. About 17 hours after SB 120 passed the full Kentucky Senate by a 22-15 vote, the proposal sailed through the House Licensing, Occupations and Administrative Regulations Committee Feb. 10. Representative Adam Koenig (R-Erlanger), who chairs that committee,...

Turfway Park's new grandstand and historical racing machine (HRM) facility won't get built until the state of Kentucky clears up the ambiguity surrounding the apparent illegality of that form of video gambling, which contributes tens of millions of dollars annually to purses in the state. That news was delivered by Bill Carstanjen, chief executive officer of Churchill Downs, Inc. (CDI), in an Oct. 29 third-quarter earnings call with investors. CDI, a gaming corporation with six Thoroughbred tracks in its portfolio, acquired Turfway last year and soon thereafter embarked upon a...

In a unanimous decision announced Thursday that could result in a large cuts to purses in the state, the Kentucky Supreme Court ruled that Historical Horse Racing (HHR) Machines do not qualify as pari-mutuel wagering and are therefore illegal under state law. The decision directly covered only one form of the machines, the Encore or Exacta system, but it appears that it will be applied to all forms and brands of HHR. The plaintiff in the case was the Family Trust Foundation of Kentucky, a conservative group which describes itself...

With only a handful of tracks still racing due to the coronavirus, wagering on the sport took a huge hit in the month of March, falling by 22.58% over 2019 figures. A total of $731 million was bet during the month, a $214 million drop from 2019 figures. The numbers were released Friday by Equibase. "Obviously, it was a tough month," said NTRA President and CEO Alex Waldrop. "As damning as these number appear, the No. 1 priority right now is the health and safety of our employees. We're like...