This came up on my news feed tonight (fairly long read)Posted By...

This came up on my news feed tonight (fairly long read)
Posted By Brant James on April 23, 2021

Maryland (and then New York) will have their turns, especially if a special colt has a chance to capture a Triple Crown in June at the Belmont Stakes.

But likely before colts break from the gate for the Preakness Stakes in Baltimore – the second leg of the Triple Crown – New Jersey will backdrop a development that will matter much more for horse racing in those other 362 days a year. Just as a lawsuit filed by the horsemen of New Jersey flicked the first domino that eventually led to the repeal of the Professional and Amateur Sports Protection Act and facilitated the spread of legal sports betting to more than half of the country in less than three years, a bill to legalize a new form of wagering on horse racing could fundamentally alter the trajectory of an industry that has faltered for decades.

Senate bill 3090, which would legalize so-called fixed-odds wagering for horse racing, awaits action by the current Legislature after passing out of committee in November.

Fixed-odds horse betting, claims proponents like Monmouth Park chairman Dennis Drazin, is a key figure in the New Jersey horseman’s sports betting suit. It may not fix everything, but it will give the sport a chance. Either way, he said, “I believe it’s coming and here to stay.”Soon, apparently.
Or maybe none to soon, gambling industry lobbyist Bill Pascrell III assured PlayUSA.
“We’re going to get this across the goal line in a month or two,” he said.


Drazin had hoped to secure fixed-odds wagering for good last summer and the track announced a deal in February to launch fixed-odds wagering with BetMaker in anticipation of passage of the new law. The race would have the system live for the July 18 edition if Pascrell’s timetable comes to fruition.

Pascrell III said his group is working on potential fixed-odds legislation in 14 states.
“We really want Jersey to be first because of its proximity to the Philadelphia/New York media markets,” he said. “New Jersey has got a rich culture. Dennis was the first person to sign a deal with BetMakers and Dennis is all in on this. He’s got a great deal, and a lot of other horsemen’s associations and tracks want the same deal.
“My only advice to them is get in now, because once this [New Jersey] bill goes, it’s going to go throughout the country like wildfire.
And the first deal is always the best deal as you know.”


https://www.playusa.com/new-jersey-fixed-odds-horse-betting-bill/