As reported in Blood Horse Magazine this month, I have selected some key points to take into consideration for those feeling impatient.
New Jersey Governor Phil Murphy signed Fixed Odds bill into law on Aug. 5
NJ law states that the Division of Gaming Enforcement has up to 60 days to approve regulations for Fixed Odds Betting.
If they take the full 60 days that brings us to 4th October.
On that day, the regulations get sent to the Attorney General ,who must approve the regulations.
The Attorney General is brand new in the role and he may take his time to sign off, but given this is an election year, and the unanimous vote in the Senate, he would be leaning towards an early sign off.
Sure, It's disappointing we missed launching on Monmouth Park's last race date for the year on the 26th September ,but according to Denis Drazin,Monmouth Park's owner, once the proper approvals are secured, bettors will not have to wait until next spring and the start of the 2022 Monmouth meet to place a fixed-odds wager.
Drazin said if approval comes after the close of the meet, he is willing to launch fixed-odds wagering both online and at Monmouth Park on simulcast races that his track offers.
."We have other signals and there's no reason why we wouldn't offer them," he said.
A likely starter for Fixed Odds Bets through Monmouth is the New York Racing Association.
In recent weeks, NYRA CEO and president Dave O'Rourke has spoken publicly in favor of fixed-odds and said he would be willing to allow Monmouth Park to offer that type of wagering on NYRA races, pending all of the proper regulatory approvals.
According to BetMakers head of international operations Dallas Baker, there are already nine racetracks other than Monmouth who are on board with allowing fixed-odds wagering on their signals.
That group, according to Baker, includes Canterbury Park, Colonial Downs, Delaware Park, Emerald Downs, Fairmont Park, Grants Pass Downs, Lone Star Park, Tampa Bay Downs, and Hawthorne Race Course.
"We have been in discussions with many other tracks and expect to be making more announcements as we get closer to going live," Baker said.
So Betalions, take advantage of the current share price and be patient.
So much going on!!!!
BET Price at posting:
$1.12 Sentiment: Buy Disclosure: Held
