Fixed odds betting on horse racing HAS ARRIVED IN NEW JERSEY!
Racing and betting fans in New Jersey can now place FIXED ODDS WAGERS ON RACING at the iconic Monmouth Park Thoroughbred racetrack.
The excitement begins with today’s opening of Monmouth Park’s 2022 live racing season. In coming weeks, betting operators will be coming online with fixed odds racing as well.
Visit this page for the latest updates and for information such as House Rules and answers to common questions about fixed odds betting.
WHAT IS FIXED ODDS BETTING?
Similar to a stock exchange or sports betting, fixed odds betting on racing offers a liquid, ever-changing market that ebbs and flows through all the stages of betting. Once you lock your bet in, those odds are yours, unlike tote betting. You can then cheer your horse on knowing the odds you bet are the odds you’ll get.
Sports betting is fixed odds betting and fixed odds betting on horse racing has been available in many other countries – including the UK, Ireland, and Australia – for years.
Now, you can place fixed odds wagers on horse racing here in the US, beginning May 7th at Monmouth Park.
INFORMATION ABOUT FIXED ODDS ON RACING
Below you can read and download information about fixed odds betting on racing, including answers to common questions and House Rules.
ANSWERS TO COMMON QUESTIONS
House Rules – Monmouth Park Fixed-Odds Wagering
What bet types can I have with fixed odds?
Win, place and show.
Where at Monmouth Park can I place a fixed odds bet?
Dedicated teller windows are located in two areas of the track in the FIRST FLOOR GRANDSTAND and FIRST FLOOR CLUBHOUSE. Look for the signs that say, ‘BET FIXED ODDS HERE’.
Also keep an eye out for your sports betting operator to come online very soon with fixed odds betting on racing
Can I place or cash tote bets at a fixed odds window?
At this time fixed odds transactions can be handled only at dedicated fixed odds terminals and tote transactions at tote terminals.
How early can I bet fixed odds?
For all fixed odds wagered races, markets will be available the day of the race, however there will be a significant number of races available before the day of the race.
Is there a limit to how much I can bet?
Yes. Monmouth Park will accept wagers for which the customer could win up to $2,500 on win bets or up to $1,000 on place and show bets.
For more information on betting limits, please see a fixed odds customer service agent.
If I am betting in higher volume, do I need a player card?
Yes. Similar to sports betting, if you intend to bet more than $1,000 per day, you must register a player card as a requirement for responsible gaming, know-your-customer and anti-money laundering protocols.
Where can I view fixed odds markets?
The big screen in the infield and monitors around the track will be displaying fixed odds.
What odds format are fixed odds displayed in and how does it work?
Fixed odds are displayed in decimals, which provide the easiest way to calculate odds. Very simply, the odds are displayed as what you would collect for every dollar you bet.
For example, if a horse is 3/1 in fractional odds, its decimal price is $4 because for every dollar you bet, you collect $4: the $3 for the win plus the $1 you invested.
What you collect from a winning ticket is simply the multiple of the decimal price of the horse and how much you bet.
If my horse is scratched after I place a bet, do I get my money back?
Yes. If a horse is scratched, any bets that have been placed prior are refunded. Visit one of the designated fixed odds betting windows for your refund.
Do deductions apply to the runners left in the race if any scratches take place?
Yes. This is the only time the payout printed on a ticket may change. In order to be able to refund bets on a scratched horse, the market needs to factor in that horse no longer being in the betting market.
Therefore, for every individual price, there is a specified cent in the dollar adjustment that applies to all bets taken prior to the scratching on runners still in the race.
The full schedule of deductions can be viewed with the Monmouth Park House Rules, available at the track or at www.global.racing/fixed-odds.
Are Monmouth Park’s races the only ones I can bet with fixed odds?
No. As the season builds, racing content from the US and around the world will be available to be wagered on at Monmouth Park and through participating sports betting operators.