To earn the seven-figure bonus, a horse has to the win the GI TVG.com Haskell S. at Monmouth Park on July 22, the GI Travers S. at Saratoga on Aug. 26 and the GI Breeders' Cup Classic at Santa Anita on Nov. 4.

“As part of our ongoing partnership with BetMakers we're pleased to be able to offer the BetMakers Bonanza bonus for a fourth straight year,” said Dennis Drazin, the chairman and CEO of Darby Development, LLC, the operators of Monmouth Park. “The commitment that BetMakers has made to racing in New Jersey has had a significant impact.”

Australia-based BetMakers also released findings from a recent survey that said more than four out of five horseplayers in the U.S. want access to fixed odds betting options, which outside of New Jersey, has been legalized in Colorado, but is not live yet. Other states are working on legislation to do the same.

“BetMakers understands the drivers of a thriving horse wagering ecosystem, including giving horseplayers more options for betting,” said Jake Henson, CEO of BetMakers Technology Group. “That 83% of surveyed horseplayers would like fixed odds to be added to pari-mutuel betting on racing is a resounding figure that speaks to the opportunity racing has in the United States to tailor a product that speaks to a new generation of horse player.”

The survey drew responses from 1,500 participants, half of whom were self-described sports bettors and the other half self-described horseplayers.

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To earn the seven-figure bonus this year, a horse has to win the Haskell Stakes, the Travers Stakes and the Breeders' Cup Classic.

Authentic collected the $1 million bonus a year ago in a revamped racing schedule due to COVID-19, with the eventual Horse of the Year doing so by winning the Haskell Stakes, the Kentucky Derby and the Breeders' Cup Classic. The 2020 Kentucky Derby was rescheduled to Sept. 5 from its traditional spot the first Saturday in May, creating the unique sweep opportunity for Authentic.

The Grade 1 Haskell Stakes, the centerpiece of the Monmouth Park meet, will be contested for the 54th time on Saturday. The $1 million race will offer the added inducement as a “Win and You're In Classic Division” reward for the Breeders' Cup Classic.

“We're thrilled to sponsor the BetMakers Bonanza again after the enormous effort by Authentic last year,” said Dallas Baker, BetMakers' New Jersey-based Head of International Operations. “We're fully committed to supporting the U.S. racing industry and we see the Bonanza as a fantastic initiative from Dennis Drazin (CEO and Chairman of Darby Development, LLC, operator of Monmouth Park) and the Monmouth Park team. We are fully behind this.”

The Travers Stakes, which carries a purse of $1,250,000, is scheduled for Aug. 28 at Saratoga. The $6 million Breeders' Cup Classic is Nov. 6 at Del Mar.

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“With all the winners of the majors competing in the Breeders’ Cup Classic, Authentic proving he is an absolute superstar was very exciting,” BetMakers CEO Todd Buckingham said. “Initiatives like the BetMakers Bonanza are a great way to get the best horses competing against each other and what a great way to finish off with a race like we had.”

BetMakers and Darby Development LLC, owner and operator of Monmouth Park, signed an agreement earlier in the year with the aim to facilitate fixed-odds betting on horse racing in the state of New Jersey, with legislation recently introduced to do so in the New Jersey state legislature.

The ‘BetMakers Bonanza’ will continue for at least the next two years but with a different pathway. This year’s COVID-19 adjusted racing schedule saw the middle leg being the Derby and with the expected return to a regular calendar next year, the Haskell and Breeders’ Cup Classic will again ‘book-end’ the Bonanza with the middle leg to be determined.

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The bill was introduced by New Jersey State Senator Vin Gopal and an identical bill has been sponsored by Assembly Gaming Committee Chairman Ralph Caputo and Deputy Republican Leader Assemblyman Ronald Dancer. With the bill enjoying bipartisan support, expectations are that it will pass and will be signed into law by New Jersey Governor Phil Murphy some time before the beginning of the 2021 meet at Monmouth.

In February, it was announced that Darby Development LLC., the operator of Monmouth Park, had entered into a 10-year agreement with the Australian firm BetMakers in which BetMakers would manage and distribute fixed-odds betting on Monmouth’s races. Monmouth had hoped to offer fixed-odds betting during the 2020 meet, but the review process conducted by the Attorney General’s office dragged on longer than expected. Should the legislation pass it is expected that fixed-odds wagering can begin without any further delays and without the requirement that it be approved by the Attorney General’s office.

“The Company is pleased that the legislation has been introduced and supported by both sides of the aisle, and that it provides a clear framework for Fixed Odds horse racing in New Jersey,” BetMakers CEO Todd Buckingham said in Monday’s press release. “The introduction of the Bill is an important step for providing a regulatory pathway for the introduction of Fixed Odds Betting in the U.S. and places New Jersey as the front-running State in the U.S. to pursue this opportunity.”

BetMakers Head of International Operations Dallas Baker said the takeout on fixed odds betting has yet to be determined but “will be pretty similar to what you see with the tote or maybe a little bit more competitive.”

At this stage in the process, fixed odds wagering will be available for New Jersey residents only and only on New Jersey tracks. However, Dennis Drazin, the chairman and CEO of Darby Development, said that BookMakers will look to expand and sign up tracks outside of New Jersey. In order to do so, they will have to comply with the Interstate Horseracing Act, which requires consent from the racetrack operators and a local horsemen’s group. He added that there is a possibility that fixed odds betting could begin before the Monmouth meet and at one of the two harness tracks in the state, the Meadowlands and Freehold.

BetMakers will attempt to expand the form of wagering outside of the tracks themselves and ADW companies and bring the many firms that accept sports betting on board, as well.

Fixed odds wagering has proved to be extremely popular in Australia. Baker said that it was introduced in Australia about ten years ago and is the primary reason handle in that country has doubled since that time.

“If you study the model of Australia, it has really grown the business there,” Drazin said.. “And our business over here has stagnated a little bit. This is a new opportunity to grow the market.”

One of the advantages of fixed odds wagering is that it prevents what is a growing problem in American racing, large odds drops in the pari-mutuel pools on horses after the race has begun.

“As a racetrack operator who talks to people, talks to our customers, one of the biggest complaints I get is when someone says they bet a horse at 8-5 and by the time they broke out of the gate and went a little bit the horse was 3-5,” Drazin said. “They think something has to be wrong with this picture. This way the bettor will have clarity on what the odds are and they’re not going to change. It will result in better satisfaction for the person making the wager.”

This will not be New Jersey’s first foray into fixed odds wagering. New Jersey had been the only state to allow wagering on the betting exchange Betfair. The exchange allows customers to set prices on horses and bets are matched when two bettors agreed on the odds. After a run of four-plus years, Betfair pulled the plug on the New Jersey exchange at the end of September, saying that handle was so low that they couldn’t justify continuing on. One of the problems with Betfair is that it never reached agreements with most of the major tracks that would have allowed New Jersey customers to wager on them Drazin said he hopes that BetMakers does not run into the same problem.

“This is going to be good for our business if everybody gets on board,” he said. “If only a few tracks offer it and it’s not the major tracks it will suffer the same growth problems exchange wagering had.”

BetMakers is also behind the $1 million BetMakers Bonanza, a $1 million bonus that combines the GI Haskell S., the GI Kentucky Derby and the GI Breeders’ Cup Classic. Having already won the Derby and the Haskell, Authentic (Into Mischief) will earn the bonus if he wins the Classic.

“One of the things we want to do is give back to the industry,” Baker said. “This is a good opportunity and we jumped on the chance to sponsor it. It’s exciting to see that Authentic is alive for the bonus going into the Breeders’ Cup.”

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Known as the “BetMakers Bonanza,” the $1 million bonus goes to the connections of any horse that wins the TVG.Com Haskell Stakes, the Kentucky Derby and the Breeders' Cup Classic.

The Breeders' Cup Classic will take place Nov. 7 at Keeneland.

Authentic captured the 53^rd edition of Haskell on July 18, extending trainer Bob Baffert's record to nine victories in Monmouth Park's showcase race. The Haskell victory also qualified Authentic for the Breeders' Cup Classic with its “Win and You're In” designation.

“It would be fitting if, in the first year of the $1 million bonus, a horse trained by Bob Baffert earned it. Bob's support of the Haskell through the years with top quality 3-year-olds continues to validate the Haskell's importance on the 3-year-old calendar,” said Dennis Drazin, Chairman and CEO of Darby Development, operators of Monmouth Park.

The Haskell has been a consistent stop for Kentucky Derby winners throughout its history, although this year marked the first time the Haskell has been contested before the Kentucky Derby. COVID-19 forced the Kentucky Derby to be moved from its traditional spot the first Saturday in May to the first Saturday in September this year.

In 2015, Triple Crown winner American Pharoah added to his legacy by making the Haskell his next stop following the Belmont Stakes, attracting a record crowd of 60,983.

American Pharoah is among eight Haskell participants who have gone on to win Horse of the Year, joining Spend a Buck, Alysheba, Holy Bull, Skip Away, Point Given, Curlin and Rachel Alexandra.

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Todd Buckingham, CEO of BetMakers, confirmed that they will offer the bonus structure for the next three years.

“We are delighted to sponsor this bonus for the next three years and hope it can attract the best horses to attempt the lucrative quest beginning with the Haskell at Monmouth Park this year,” said Buckingham. “BetMakers is committed to supporting and growing horse racing with our partners and we are keen to ensure the best horses race in our events.

“We believe the U.S. racing industry will enjoy a resurgence through Fixed-Odds wagering and by being a part of our Global Racing Network.”

Dennis Drazin, Chairman and CEO of Darby Development LLC, operators of the track, hailed the new partnership as another positive development for the Thoroughbred racing industry.

“We are grateful to have BetMakers supporting Monmouth Park in this $1-million promotion for connections of horses entered in the Haskell,” Drazin said. “We want the best horses racing at our track in our premier events and this is a perfect way to attract those horses. While our relationship with BetMakers is just getting started, we are very pleased with their enthusiasm for Monmouth Park and U.S. Horse Racing in general.”

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The promotion will be known as the “Betmakers Bonanza.”

The Grade 1 Haskell Stakes, the centerpiece of the Monmouth Park meet, will be contested for the 53^rd time on Saturday, July 18. The $1 million race will offer the added inducements of points for the Kentucky Derby and a “Win and You're In” reward for the Breeders' Cup Classic.

The Kentucky Derby has been rescheduled to Sept. 5 from its traditional spot on the calendar the first Saturday in May due to COVID-19. The Breeders' Cup Classic is scheduled for Nov. 7.

Todd Buckingham, BetMakers' Chief Executive Officer, said the company has committed to offering the $1 million bonus for the next three years in partnership with Monmouth Park Racetrack.

“We are delighted to sponsor this bonus for the next three years and hope it can attract the best horses to attempt the lucrative quest beginning with the Haskell at Monmouth Park this year,” said Buckingham. “BetMakers is committed to supporting and growing horse racing with our partners and we are keen to ensure the best horses race in our events.

“We believe the U.S. racing industry will enjoy a resurgence through fixed-odds wagering and by being a part of our Global Racing Network.”

Dennis Drazin, Chairman and CEO of Darby Development LLC, operators of the track, hailed the new partnership as another positive development for the Thoroughbred racing industry.

“We are grateful to have BetMakers supporting Monmouth Park in this $1 million promotion for connections of horses entered in the Haskell,” Drazin said. “We want the best horses racing at our track in our premier events and this is a perfect way to attract those horses.

“While our relationship with BetMakers is just getting started, we are very pleased with their enthusiasm for Monmouth Park and U.S. horse racing in general.”

The format for the 2021 and 2022 series of races for the “BetMakers Bonanza” will be determined following the finalization of racing dates for those respective years, but will include the Haskell and culminate with the Breeders' Cup Classic.

For more information regarding BetMakers, contact Dallas Baker, the company's New Jersey-based Head of International Operations, at dallas.baker@thebetmakers.com.

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