Fixed-Odds Horse Racing Betting Will Soon Be A Reality In NJ

• Monmouth Park will soon introduce fixed-odds betting for horse racing.
• Fixed-odds will first be available in betting kiosks and then through mobile apps.
• If successful, Monmouth Park will be the first track in the U.S. with fixed-odds horse racing betting.

OCEANPORT, N.J. – Monmouth Park will become the first horse race track in the United States to offer fixed-odds horse racing betting.

Monmouth Park has been forced to close temporarily due to the COVID-19 (coronavirus) pandemic. Although that might be the case, that does not mean that the park owners are not planning to improve their offerings.

Bringing In New Horse Bettors

Unlike legal sports betting, horse races do not often attract a younger crowd. There could be a number of reasons for this but for now, Monmouth Park is looking at fixed-odds as a solution.

Traditional horse racing betting odds adjust to how people are betting right before the race starts. No matter when a bettor places their horse wager, their odds will adjust to how the crowd is betting.

So, a bet initially placed at 14-1 odds could be moved to 8-1 odds before the start of the race. That is a loss in money earned, despite the fact the wager was placed much earlier than everyone else.

With fixed-odds, a bettor who initially makes a bet at 14-1 odds will keep their odds, even if the line moves to 8-1 odds. This way of wagering will reward veteran horse bettors for getting their bets in early and excite younger horse bettors as well.

Younger bettors will be more familiar with fixed-odds as many sportsbooks around the country use fixed-odds for sports betting.

Monmouth Park is very confident that fixed-odds will be coming to their facility, it is only a matter of time when it will happen. Fixed-odds horse racing has proven to work, as it is very popular in Australia. Australia earns more in horse racing than the United States does.

Although that may be the case, it is unknown if the rest of the horse racing industry in the U.S. will embrace fixed-odds. American horse racing is filled with tradition and there are many who do not want to break tradition.

There is a chance that fixed-odds in Monmouth Park will fail to make any significant waves in the U.S. horse racing industry. But if it does make waves, fixed-odds can change horse racing betting in the U.S. forever.

News tags: Horse Racing | horse racing betting | Monmouth Park | New Jersey | Oceanport