The money has already been approved for 2024. The extension was to run from 2025 through 2029.

Murphy vetoed 12 bills in all, using what is called a pocket veto. That type of veto applies only to bills sent to the governor's desk in the final 10 days of a legislative session. If the governor does not sign such bills within seven days of the end of a session those bills are vetoed without being sent back to the Legislature.

Murphy's decision came as a major surprise since he has largely supported racing during his time in office and the bill had overwhelming support in the Senate and in the Assembly. It passed the Senate by a 35-1 margin and the Assembly by a 73-0 margin.

The purse subsidy is vital to Monmouth Park, which, without it, would offer far smaller purses and have trouble competing for horses with the many other tracks in the Mid-Atlantic region.

“If we didn't get this money, it would be a disaster,” said Dennis Drazin, the chairman and CEO of Darby Development, the management team that operates Monmouth. “We'd either have to cut days or purses.”

Drazin admits he was alarmed when first hearing news of the veto and he immediately placed a call to Murphy. Drazin said he heard back within 15 minutes and the governor reassured him that future purse subsidies remain very much alive.

“I spoke with him and he wholeheartedly supports the industry, but he did not feel a bill like this should get passed through a lame-duck session,” Drazin said. “He is committed to continue to work on it and get it done through the budget process. I take him at his word. He has been supportive of the industry ever since he's been in office and he says he will get it done, just not the way it was being handled. I trust this governor. He made a commitment and I am taking him at his word. If he had said, 'I'm vetoing it', that's it, we'd be having a different conversation.”

The post NJ Governor Murphy Vetoes Bill To Extend Purse Subsidies Through 2029; Drazin Optimistic Deal Will Still Get Done appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

First presented in 2012, the Handleman Award honors the late Bill Handleman, one of New Jersey's top sportswriters for nearly three decades for the Asbury Park Press. Handleman, a fixture at Monmouth Park and a passionate chronicler of the sport, died in June of 2010 at the age of 62.

Collmus, 56, has served as the announcer for NBC Sports' coverage of the Triple Crown and Breeders' Cup since 2011 and is currently the on-site host for TVG (Fan Duel) during live racing days at Monmouth Park.

“For all of the national acclaim Larry Collmus has received for his outstanding career, he remains closely associated with Monmouth Park and the Haskell S.,” said Dennis Drazin, Chairman and CEO of Darby Development LLC, the operators of Monmouth Park. “We're pleased to honor him with the Handleman Award for his work last year and throughout the years on Haskell day.”

Collmus, who started his career as the track announcer at Bowie in Maryland in 1985 at the age of 18, has served as the race caller at Birmingham Turf Club, Golden Gate, Suffolk Downs, Monmouth Park, Churchill Downs, for NYRA tracks and at Del Mar. He was Monmouth Park's race caller from 1994-2014.

His call for NBC Sports of this year's Haskell will be his 23rd for Monmouth Park's most prestigious race–and first since Triple Crown winner American Pharoah won the race in 2015.

The post Collmus Named Handleman Award Winner appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

Yet, officials with the Australian firm BetMakers Technology Group Ltd., which facilitates fixed odds bets for Monmouth, expressed optimism about the future of the new form of betting at Tuesday's kickoff luncheon for the 2023 Monmouth meet, which begins Saturday. At the very least, some progress has been made, particularly when it comes to the content available to bettors. In addition to the Monmouth races, fixed odds bets on Delaware Park, Hawthorne, Emerald Downs, Century Downs, Canterbury Park and FanDuel Racing will be available this year and an agreement that would make bets on Parx available could be wrapped up shortly.

In addition, there's now an app that players can use to play fixed odds and the bets will be available at some self-service betting machines. Last year, bets had to be made with a teller and only a handful of windows were open for fixed odds.

Jake Henson, the chief executive officer at Betmakers Technology Group Ltd., sees these developments as an important step in the right direction and hasn't given up on the goal of making fixed odds betting a major part of how U.S. horse players wager.

“Last year was a big learning event for everyone, our staff on track, our technology team and for everybody involved in regulatory and with compliance,” he said. “We got together at the end of the season to look at what we needed to get better at and what we needed to improve upon.  We're confident we're making progress.”

But before fixed odds betting can get to the next level, two things have to happen. BetMakers must be able to offer wagers on the top tracks in the sport, like Saratoga, Santa Anita, Keeneland, Churchill and Gulfstream, and it has to be available to a far bigger audience than just New Jersey residents. Henson believes that day will come.

“Last year helped a lot with that process because now you have something tangible that you can show regulators and horsemen,” he said when asked about expanding to other states. “How it works, how the economics work. Ultimately, the whole thing is about getting return back to the industry and now that we have a sample set we are more confident going forward. We're in discussions with a number of states, some discussions more advanced than others.”

And when it comes to adding the top tier tracks to the betting menu?

“The more you can show them so far as tangible evidence goes, how it works, how the economics work, that makes it easier to get them to come to table,” Henson said. “For now, we will support the tracks we're involved with and put our attention and focus on them. We are in discussions with some of the major tracks and are keeping them updated on the economics.”

A more long-range goal is to get racing product onto sports betting websites. The belief is that that will be easier to do if fixed odds wagers are offered to traditional sports bettors, who are mostly unfamiliar with pari-mutuel wagering.

“We did some surveys last season and found that two out of three sports bettors would bet on racing if fixed odds was a product option for them,” Henson said. “And there are a lot of sports bettors in this country that are not betting on racing but could be. It's a big opportunity to capture that segment of the market and we will continue to invest and chip away to make that happen.”

Dennis Drazin, the head of the management team at Monmouth, also said he remains optimistic about fixed odds and believes it will eventually become a significant part of the sport.

“When we first talked with the people from BetMakers, they said that in Australia, where they have fixed odds, they have 30 million people,” Drazin said. “Those 30 million people bet the equivalent of $20 billion U.S. and fixed odds has a lot to do with that. We have 350 million people here and we only bet $12 billion. We think one of the things that can help turn things around and grow revenue for the sport is fixed odds wagering. BetMakers has been a great partner. They came here and got this thing rolling for us. Last year was the infancy of what we're going to do. But what's going to happen from here is we are going to grow the handle throughout the United States as this spreads around the country. I think it can get to $400-$500 million a year in handle. As each state comes on, the results will be proven. I think fixed odds wagering will spread to other states once we get rolling.”

This will be the 78^th season of racing at Monmouth Park and the meet will run for 51 days, nine fewer than last year. Closing day is September 10, which will be followed by a 10-day meet at the Meadowlands, which will be all turf racing.

Paco Lopez will be back in search of his tenth riding title. Joe Bravo is the track's all-time leader with 13 titles, but he now rides in California. There are 48 stakes on the schedule, highlighted by the GI Haskell S. The $1 million race will be run on July 22 on a card that will include four other graded stakes. Four stakes top the June 17 card, which has been dubbed Haskell Preview Day.

The post Monmouth Meet Will Offer Expanded Opportunities for Fixed Odds Players appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

The Raines Award, currently in its 28th year, is presented annually just prior to Monmouth Park's season opener. The track's 78th season of live racing gets underway on Saturday, May 13.

“It's a tremendous honor to receive this award because of what it means to thoroughbred racing in New Jersey,” said McBurney. “It's an impressive list of past recipients so it's a great honor to join them.”

McBurney, who spent the first half of his career as an assistant to the late John Forbes (the 2006 Raines Award winner), went out on his own full-time as a trainer in 2007. He saddled his first winner on May 13, 2007 when Cable Boy won at Monmouth Park.

“Pat's tireless efforts on behalf of New Jersey horsemen and racing in general in the state, and his success as a trainer, make him a worthy recipient of this year's Buddy Raines Award,” said Dennis Drazin, Chairman and CEO of Darby Development LLC, the operators of Monmouth Park. “It's a fitting honor for someone who has done so much to promote thoroughbred racing in New Jersey.”

McBurney has won 333 races overall, with the versatile Golden Brown and Just Call Kenny– both Grade III winners–being his top runners.

McBurney, who resides in Fair Haven, New Jersey, will have nearly three dozen horses stabled at Monmouth Park this summer in anticipation of the 51-day meet.

The post Pat McBurney Earns 2023 Virgil ‘Buddy’ Raines Award appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

Griffin, the back-up announcer at Monmouth Park since 2020, will replace Frank Mirahmadi, who is taking over as the track announcer at Saratoga next summer after eight years at Monmouth Park. Mirahmadi is also the track announcer at Santa Anita.

The 41-year-old Griffin was also recently named the track announcer for the Aqueduct winter meet that runs from January through April.

“We're pleased to have Chris Griffin join us as our full-time announcer. There has been a tremendous legacy in the Monmouth Park announcer's booth for the past 50 years, from Bob Weems to Larry Collmus to Travis Stone to Frank Mirahmadi, and we feel Chris will carry on that tradition,” said Dennis Drazin, Chairman and CEO of Darby Development LLC, operators of Monmouth Park.

Griffin has been the track announcer at Parx since April of 2021, filling in at Monmouth Park in Mirahmadi's absence for the past three years as well. He also serves as the track announcer for the Monmouth-at-Meadowlands meet and will continue in that role going forward.

“It's an honor. I'm humbled,” said Griffin. “It's nice when you feel like you have worked really hard to achieve your goals of what you want to do career-wise and where you want to be.

“I have gotten to know some of the people at Monmouth Park over the past three years. To be able to fill in over that time, and to do so for Frank Mirahmadi, someone I respect immensely in this industry and as an announcer, has meant a lot to me. It's a great opportunity to be able to now get to do this full-time at Monmouth Park.”

Griffin, who hails from Santa Monica, Calif., got his announcing start with the National Hot Rod Association and Harlem Globetrotters, moving on to call races at the Humboldt County Fair in Ferndale, Calif. He has been the announcer for a variety of California fair meets as well as Portland Meadows, Los Alamitos and Gulfstream Park West.

Griffin was named the track announcer at Sam Houston in 2018. He also filled in at the Belmont Park fall meet in 2021.

The post Chris Griffin Named New Track Announcer at Monmouth Park appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

Total handle was $217,243,199 this summer compared to $173,511,611 a year ago. On-track handle was $17,753,794 in 2022 compared to $15,216,978 a year ago.

Total attendance was 368,101. Monmouth ran 60 live days of racing this year compared to 55 a year ago.

“We're extremely pleased by the increase in handle for the 2022 meet, which we feel is a reflection of the quality of the product we were able to offer and the commitment from the horsemen to our program,” said Dennis Drazin, Chairman and CEO of Darby Development LLC, operators of Monmouth Park. “The numbers show the strength of our product and the willingness of bettors to wager on it. As we look forward to 2023, we want Monmouth Park fans and horsemen to know they can count on our ongoing commitment with additional facilities upgrades and to the highest quality of racing we can offer.”

Thoroughbred racing in New Jersey now shifts to the Meadowlands Racetrack for a nine-day all-turf meet that gets underway Friday, Sept. 23, and runs through Saturday, Oct. 22. First race post time throughout the meet will be 7 p.m.

Lopez, 36, easily outdistanced the competition with 91 winners. His nine riding titles leave him behind only Joe Bravo's 13 for the most in Monmouth Park history. He punctuated his latest title with a four-winner day on Sunday.

“Every title for anyone I think is special,” said Lopez. “It's going to be hard to catch Joe Bravo but I'm going to try. It's not going to be easy. But I am going to enjoy this one. Winning the title at Monmouth Park is always special for me. I'm very grateful to all of the owners and trainers who put me up on horses and helped me have success.”

Gonzalez, who started his career at Monmouth Park as an assistant to Ben Perkins, Jr. in 1995, owns 16 training titles at Laurel and two at Pimlico. He finished with 32 winners, three better than runner-up Kelly Breen.

“I started here. I still feel like this is my home,” Gonzalez said of Monmouth Park. “I feel this one is special for me. I really wanted to win the title here this year, especially after we got off to such a fast start. And we got it. I'm very happy. I have a great crew of workers. Any time you win a title it's a team effort.”

Leading owner wound up as a four-way tie with eight winners between Bergen Racing, Dave Gruskos, Monster Racing and the partnership of Joseph and Gayle Ioia and Chuck Spina.

The post Handle Jumps 25% at Monmouth; Lopez, Gonzalez Take Meet Titles appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

“First and foremost, we are concerned about the safety of the horses and jockeys and want to make sure we do the right thing,” said Dennis Drazin, who heads the management team at the Jersey Shore track. “But we've been on top of it all week and right now nothing has changed. We think we will be ok.”

The heat was a factor for the running of the 2019 Haskell when temperatures flirted with the 100-degree mark. A decision was made to change the post time of the Haskell from 5:47 p.m. to 8:05 p.m in hopes that the temperatures would drop by the early evening. Six races on the card were cancelled

Drazin explained that the New Jersey Racing Commission rule calls for racing to be halted if the heat index reaches 105. A heat index takes into account the combination of high temperatures and humidity. The Saturday forecast for the Monmouth area is calling for a high temperature of 91 degrees. The National Weather Service has issued a heat advisory for the area through Wednesday of next week.

Drazin said that adjusting the schedule and times of the races Saturday would be a no-win proposition.

“The bottom line is that you put yourself in jeopardy no matter what you do,” he said. “If you  move post time until later and the heat index is still bad at 5, 6 o'clock, then you can't run. If you move it up to 9 o'clock in the morning, you might get some races in but I don't want to start our card at 9 on Haskell day or any other day.”

Post time for Saturday's first race at Monmouth is scheduled for 12:00 and post for the Haskell was listed as 5:45 p.m.

Drazin said the racing commission was monitoring conditions for Friday's card and gave the track the green light to run and hold the races at the regularly scheduled time. Temperatures Friday reached the low nineties.

“We were concerned about the heat index today,” Drazin said Friday. “I've spoken to the racing commission and have been in touch with them all day long. Their executive director has been on top of the weather and we got the blessing to go ahead and start the card. If the heat index ended up later in day to be dangerous, they would stop the racing. Looking at the week and looking at the forecast, we thought Friday and Sunday would be worse than Saturday. So we are hoping it will play out ok and that Saturday will be fine. We are a little concerned about Sunday. We may have to do something about Sunday.”

Meanwhile, tracks in the region were sent scrambling due to the excessive temperatures. The Maryland Jockey Club (MJC) has announced that the Sunday card at Laurel has been cancelled and rescheduled for Thursday. Post time for Saturday's races has been moved from a 12:40 start to 1:50. According to MJC Acting President Mike Rogers, the company uses a protocol called the WetBulb Globe Temperature (WBGT) measurement, which takes into account temperature, humidity, wind speed, sun angle and cloud cover to determine potential heat stress. It is different than the heat index, which takes into consideration temperature and humidity including for shady areas. Rogers said if the WBGT measurement is at 91.4, there is no choice but to cancel racing.

Colonial Downs has announced that Monday's card has been cancelled due to heat concerns. Their scheduled, featured stakes–the $150,000 Colonial Cup at 1 1/2m on turf–will now be run Wednesday, July 27 as originally drawn.

To the west, Ellis Park has announced that its races this weekend have been moved up to 10:30 a.m. local time because of the heat.

The post Despite Heat, Monmouth Officials Confident Haskell Card Will be a Go appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

The story was first reported by the Asbury Park Press.

At the start of the 2021 meet controversial rules were put in place by the New Jersey Racing Commission that banned the practice of whipping horses to encourage them to run. While restrictions on the use of the whip were in place in several states, New Jersey was the only jurisdiction that banned the use of the whip outright.

On July 1, that is set to change when HISA rules will supercede regulations put in place by state racing commissions. The HISA rules allow a jockey to strike a horse six times a race but no more than twice in succession. With the rules set to change some seven weeks into the meet, Monmouth is asking the racing commission to put the HISA rules in place at the start of the meet. Track management has requested that the commission hold a special meeting to discuss the matter.

“I think we have a very good chance of getting this done,” Dennis Drazin, the chairman and CEO of the management company that operates Monmouth, told the Press. “It doesn't make sense to have different rules to start the meet and switch midstream.”

Several jockeys raised objections to the rule last year, arguing that the whip was needed for safety purposes. While most decided to ride at the meet, 13-time Monmouth champion Joe Bravo refused to ride and relocated to California. Antonio Gallardo also cited the rule when announcing he was leaving Monmouth to ride at Woodbine.

From a pari-mutuel wagering standpoint, Monmouth did not have a particularly strong 2021 meet, which raised the possibility that some bettors shied away from the Monmouth product because of the whipping ban.

The post Monmouth Appeals to Racing Commission to Amend Whipping Rules appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

I am excited to update you about the introduction of fixed odds betting on thoroughbred racing in New Jersey, which we now plan to start rolling out in March.

Importantly, I also want to share insights into the commercial model and agreements we have in place with the purpose to maximize the intended success of this new venture.

It is under this model that I believe fixed odds betting can be transformative for the Thoroughbred industry by unlocking new revenue that can flow back to stakeholders and participants and grow the sport we all love.

The go-to-market roll-out of fixed odds betting on racing in New Jersey: Fixed odds bets on Thoroughbred racing meetings are scheduled to be offered on track at Monmouth Park from March 2022. Shortly thereafter, and prior to Monmouth's live racing start on May 7, 2022, fixed odds will be available online thru NJ licensed sportbooks.

Fixed Odds is available now to licensed Sportsbooks thru BetMakers. Thanks to our partners, BetMakers Technology Group, who have assisted us to officially open the door for major Sportsbooks across New Jersey to participate.

BetMakers, under a fixed odds management and distribution agreement with Monmouth and the New Jersey Thoroughbred Horsemen's Association, has a 15-year exclusivity on fixed odds in New Jersey.

In effect, this means that any Sportsbook wanting to offer their New Jersey customers fixed odds bets on win, place and show on approved Thoroughbred racing (in state or out of state) must have an approved agreement in place with BetMakers. This is still subject to Interstate
Horseracing Act (IHA) approvals regarding out of state signals. We have endeavored to ensure that horse racing participants are protected under the IHA through the Fixed Odds Wagering Act (FOWA) and regulations.

BetMakers has minimum guarantees with Monmouth and the NJ horsemen. These payments protect the current revenue streams of the racing industry currently generated by pari-mutuel wagering. This underscores the vital importance for Sportsbooks to have commercial agreements in place with BetMakers before they can offer fixed odds betting, which assists to cover these guarantees.

BetMakers has started the process of engaging with online sports and casino operators with the aim to onboard five Sportsbooks for fixed odds betting in the first half of this year. Once approved, Sportsbooks can bet fixed odds on all relevant racing through online sites and in addition to brick-and-mortar casinos, OTBs and at other track venues.

Our model for fixed odds racing is built on fairness and returns to the industry:

• It's time for the Thoroughbred racing industry to share in the fixed odds betting boom that has seen more than $10 billion annually wagered on sports in New Jersey alone.
• Up until now, Thoroughbred racing has not been able to offer those sports bettors a similar product in horse racing. Through the model we have developed, and under our agreement with BetMakers, this is set to change.
• The model has been developed after much consultation with industry stakeholders and is established through the proper legislative and regulatory channels to ensure both integrity and sustainability and deliver the intended prosperity back to the Thoroughbred industry in New Jersey.

This approach has been taken to protect and reward our industry, and it has taken time to reach a point of rolling out fixed odds betting on racing because we needed to create a sustainable growth strategy benefitting the stakeholders of Thoroughbred racing.

This new incremental revenue I believe will flow from fixed odds betting on horse racing to:

• the respective stakeholders who put on the show in a sustainable and equitable way;
• offer a competitive betting product alongside other sports offerings, since racing can offer this product every day and night all year long;
• bolster all aspects of human and equine welfare through better industry returns.

What does this mean?

A few years ago, after witnessing the incredible success that horse racing had experienced in Australia – and a wagering market in that country that doubled in size thanks to the introduction of fixed odds alongside a Pari-Mutuel tote operation – we sought innovation from a partnership with BetMakers that could attempt to replicate this success.

One of the major factors in pursuing fixed odds betting on Thoroughbred racing in New Jersey was the potential to grow the “eyeballs” on our existing racing product and extend the attraction of racing as a betting option alongside other sports events where fixed odds betting has been hugely popular.

Some of the leading questions that are being asked about this new fixed odds model are answered below.

What is the commercial model for the racing industry?

Sportsbook operators who sign and are approved through our exclusive partnership with BetMakers will pay a fee of 4% of turnover on any bets that are placed on thoroughbred racing within New Jersey .

This fee, collected by BetMakers, will then be distributed in majority to the following participants:

• NJTHA – The horsemens group within New Jersey – which can distribute these funds back to participants through purses, which is also then shared with the breeding industry.
• Monmouth Park – New Jersey's only Thoroughbred racetrack – which will assist in funding improved track facilities for trainers, jockeys, valets, grooms, hot walkers and improved on-course experiences for patrons and bettors.
• Host Track – The track where the race is being conducted, which allows for the expansion into new audiences to drive returns for horsemens groups within other states and territories.

Can you guarantee this will benefit the Horsemens group in New Jersey?

Our deal with BetMakers has certain guarantees associated:

1. A hold harmless guarantee up to $1mil for any reduction in 'Purses' that are derived from Pari Mutuel betting for the Win, Place, Show markets
2. A minimum commitment to the 'Purses' of $1mil per year for the next 15 years from the introduction of Fixed Odds wagering

While we expect and are hopeful that Fixed Odds will deliver much higher returns and benefits within New Jersey, these minimum guarantees give us some certainty around the success of rolling out Fixed Odds on Thoroughbreds in the state.

As part of the original agreement and in addition to the above guarantees, BetMakers has also committed to Monmouth Park minimum revenues of $1mil which will allow us to commit to continue to improve facilities at the track for Horsemen and Patrons. We are excited to be unveiling our brand new 'Big Screen TV' in the infield for the first meet this year, that will be substantially bigger than the current display and we believe will bring the excitement of our racing to life.

Does this include In-state and out of state races?

Yes, all races that are bet through a licensed operator (Track, Casino, OTB, Sportsbook) in New Jersey on Thoroughbred races will pay the fee that is distributed to the participants. Out of state tracks will benefit through the 'Host Track fee.'

Are operators required to be licensed to bet fixed odds on racing in New Jersey?

Yes, Sportsbooks, Racetracks, online operators and casinos will need to be licensed and also have an agreement in place with NJTHA and BetMakers as their representative.

How will operators report on their betting handle?

All bets will be required to be recorded in the “betting and reporting engine” that has been developed for New Jersey Thoroughbred Horsemen Association.

Full transparency for regulators and rights holders will be available through the betting and reporting engine.

As a Thoroughbred Rights Holder for fixed odds, can I sell directly to an operator?

No, any rights holders and racetrack must deal directly with NJTHA through its representative BetMakers.

It is important under the model for horse racing in New Jersey that all operators betting on fixed odds within New Jersey are using the NJTHA model for reporting and integrity purposes. This model also assists to ensure the commercial benefits flow back to the industry participants in New Jersey.

Will licensed and approved operators be able to bet fixed odds on Standardbred racing?

No, the agreements are currently only in place under this model for Thoroughbred racing. I expect that standardbred racing executives will be closely monitoring the model.

What is the attraction for Sportsbooks, online operators and Casinos to sign up to fixed odds betting?

In the US, we have all witnessed the hugely successful introduction of fixed odds betting on sports in the United States. All indications are that there will be a similarly positive response from bettors/handicappers to fixed odds betting on horse racing.

The certainty of price setting for the person placing the bet has attracted a new audience of people betting on sport, and we expect this will be the case for horse racing. We believe we can reach a whole new audience – many times bigger than currently exists – through fixed odds.

With our strongly anticipated consumer-led willingness for the fixed odds product, the opportunity for Sportsbooks is to add horse racing alongside sports events to their fixed odds offerings to customers is obvious. Racing will be a new vertical of product for Sportsbook operators to offer their customers – and from a commercial point of view it is a high-frequency product that can deliver good margins.

The case study in Australia is compelling. Since the introduction of fixed odds betting alongside the Pari-Mutuel tote system, the overall racing wagering pie has grown – in fact more than doubled. We believe this can be the case in the US, too, and it will be in the interests of Sportsbooks to offer the racing product, especially if the margins generated by Australian wagering operators are seen in the US.

When will fixed odds betting be available in New Jersey?

Our expected launch date for fixed odds betting in New Jersey is March 2022, starting with on-track only, and then extended to online fixed odds betting ahead of Monmouth Park's new racing season in May 2022.

Does that mean only five licenses for fixed odds betting will be awarded by BetMakers?

No, it is only in the first phase of the online roll-out that licences will be restricted to the first 5 Sportsbooks signed up in New Jersey. After the first 5 have been announced, all other approved wagering operators that wish to offer this bet type to their customers will be able to offer fixed odds betting on Thoroughbred racing in New Jersey if they have agreements and approvals in place through BetMakers.

I suggest that any Sportsbooks interested in securing one of the first 5 licenses to offer fixed odds betting on thoroughbred racing in New Jersey to their customers don't hesitate to contact BetMakers' North American CEO Christian Stuart at christian.stuart@betmakers.com.

The post Monmouth Targets March Launch For Fixed-Odds Wagering On Racing appeared first on Horse Racing News | Paulick Report.

Source of original post

The decline begs the question: did some gamblers stay away because of the controversial ban of the whip?

The Monmouth meet was the first in North American racing where whipping in order to encourage the horse was banned, a rule put into place by the New Jersey Racing Commission prior to the meet. Some believed that the lack of whips created an unknown factor that would make handicapping the races a bit of a crapshoot and keep horseplayers away.

“It's difficult to say,” Monmouth's Dennis Drazin said when asked about the impact of the whip ban. “A number of the whales I spoke to told me [the whip ban] was a factor why they weren't betting. There were a number of people who were mixed on the whip rule. Some people said they were uncomfortable with the whip rule and couldn't bet serious money. They told me they might bet a race because they wanted to have a good time and have some action. But they just bet less and didn't make huge bets on those races. I'm sure the whip ban had some effect on our handle, but if I tried to quantify it, I don't know that I could.”

Drazin said several other customers told him they altered the way they handicapped the Monmouth races. One theory is that front-runners would do better in whipless races because jockeys had no means to encourage closers to run their best in the latter stages of the races.

“A lot of others told me they just handicapped differently,” he said. “They cashed a lot of bets because they read the form and they knew what the horses's style would be like. Whatever their philosophy might have been about betting the front-runners, I saw a lot of closers win. too.”

Drazin said that as the meet went on he sensed that everyone, including bettors, seemed to grow more comfortable with the new rules regarding whipping.

“A lot of people, people who were watching our races very carefully, including the heads of a lot of other racetracks, said they thought in the beginning that the rule was very controversial,” he said. “They thought by the end of the meet, no one was talking about it. No one even noticed anything was different.”

Drazin also pointed to problems keeping the races on the grass, particularly early on in the meet. The first 15 races scheduled for the turf were all moved to the main track.

“I think the handle was down because of the weather,” he said. “When it rains, you just get decimated. We had a lot of races come off the turf. Plus, you have to plan for the weather.  When you know it's going to rain over the weekend you're not going to write a bunch of turf races.”

While it is unlikely that the New Jersey Racing Commission will rescind the whip rule on its own, Drazin said there could be major changes as early as next July. That is when the Horseracing Integrity and Safety Act (HISA) is supposed to go into effect. Under HISA, it is expected that there will be uniform rules throughout the country, including rules covering the whip.

“What I think will happen is that HISA will take effect next July and they will have a uniform whip rule and New Jersey will have the same rule everyone has,” he said. “My understanding is that HISA's rule will most likely be the same as the rule in Kentucky and then every state in the country will use the same rule. If that happens, the discussion about our not allowing whips will be moot.”

The Kentucky rule limits sets a limit of six overhand hits per race with no more than two strikes in succession.

The post Daily Average Handle Down at Monmouth; Whip Ban To Blame? appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post