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| New Jersey Governor Signs Fixed Odds Wagering Bill, Awaiting Regulatory ApprovalSPONSORED BY:by Tom Luicci/Monmouth Park | 08.05.2021 | 4:46pmMonmouth Park in Oceanport, N.J.Fixed odds wagering will be available at Monmouth Park in the coming weeks after New Jersey Gov. Philip Murphy on Thursday signed legislation 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 Senate President Steve Sweeney, in advancing fixed odds wagering,” said Dennis Drazin, chairman and CEO of Darby Development LLC, the operator of Monmouth Park. “It provides our patrons with another wagering option that we firmly believe will be a popular one.”The bill was co-sponsored by state Assemblymen Ronald S. Dancer and Ralph R. Caputo and state Senators Vin Gopal and Paul A. Sarlo.Fixed odds wagering allows bettors to retain the odds at the time of their bet, as opposed to pari-mutuel wagering, where odds are not finalized until betting is completed.When it is available at Monmouth Park, fixed odds will be offered on win, place and show betting at the outset, with a minimum wager of $1. There will be designated fixed odds windows throughout the grandstand and clubhouse, with televisions displaying the current fixed odds.Monmouth Park will also show the fixed odds for each race during the track's in-house televised feed of races.Fixed odds wagering will begin with Monmouth Park races, with the expectation that it will expand to other tracks that enter into an agreement to permit fixed odds wagering on their races.New to the Paulick Report? Click here to sign up for our daily email newsletter to keep up on this and other stories happening in the Thoroughbred industry.Copyright © 2021 Paulick Report.This entry was posted in The Biz and tagged betmakers, betmakers technology group, darby development, dennis drazin, fixed odds wagering, gov. philip murphy, new jersey division of gaming enforcement, new jersey racing commission by Tom Luicci/Monmouth Park. Bookmark the permalink.Please read our Commenting Policies Twitter TwitterFacebook FacebookPaulick Report on Instagram Ray PaulickASK RAY?questions • tips • rantsAsk MePR PollIn general, are you satisfied or dissatisfied with the way things are going in the Thoroughbred industry in the United States at this time.SatisfiedDissatisfiedNo opinion/not sureVoteSTAFFPublisherRay Paulick (859 312.2102)Director of AdvertisingEmily Alberti (859 913.9633)Editor-in-ChiefNatalie VossBloodstock EditorJoe NevillsNews EditorChelsea HackbarthWeekend EditorJennifer KellyContributing WritersSarah E. ColemanLiane CrossleyJonathan HorowitzFrank MitchellTom PedullaDenise SteffanusPhotographyEquiSport Photos (Matt and Wendy Wooley)Eric KaletBusiness ManagerCarol Paulick Paulick ReportHOMEContactTerms of UsePrivacy PolicyCommenting PoliciesRSS FeedsNEWSThe PaddockThe BizBloodstockHorse CareHorseplayersPegasus World CupPeopleRacingTriple CrownFEATURESAftercare SpotlightAmerican Graded Stakes StandingsAround The Track PodcastAsk Your VeterinarianBarn BuddiesBloodlinesConnectionsFigure Makers: How Speed Ratings Are CreatedFollow A FoalHow To FixIn The StudIn Their CareLost And FoundNews MinuteThe Friday ShowWeekend LineupVIDEOSGraded StakesLatest VideosSOCIAL MEDIAFacebookTwitterYouTubePaulickReport.com is published by Blenheim Publishing LLC, 3070 Lakecrest Circle, Suite 400-292, Lexington, KY 40513. Copyright Blenheim Publishing LLC.