Monmouth Park Deal with Will increase, Drazin Happy with Fastened Odds Debut

Home » Monmouth Park Deal with Will increase, Drazin Happy with Fastened Odds Debut

Posted on: September 20, 2022, 01:51h. 

Final up to date on: September 20, 2022, 01:41h.

Monmouth Park closed out its summer season meet on Sunday, and the New Jersey racetrack reported strong numbers for the season.

Webslinger, with Dylan Davis aboard, wins the Nownownow Stakes at Monmouth Park on Saturday, passing Oxymore in ultimate strides. Racing concluded Sunday on the New Jersey observe, and the all-sources deal with elevated by $43.7 million from final yr to $217.2 million. (Picture: Ryan Denver/EQUI-PHOTO)

The all-sources pari-mutuel deal with for races on the observe rose by greater than $43.7 million from final yr to $217.2 million. Even with 5 extra racing days on the calendar this yr, the common every day deal with rose by 14.8% to $3.6 million.

The on-track deal with of $17.8 million was a $2.5 million enchancment from 2021. Once more, even accounting for the extra days, the common on-track every day deal with rose almost 7% to $295,897.

Dennis Drazin, the chairman and CEO of observe operator Darby Growth, mentioned in a launch observe officers had been joyful to see wagering improve. He thought-about it an indication of a top quality product that the observe put out for bettors. He additionally thanked the horsemen for the dedication to the observe as properly, as that additionally had an element within the uptick in betting.

“The numbers present the energy of our product and the willingness of bettors to wager on it… As we look ahead to 2023, we would like Monmouth Park followers and horsemen to know they’ll depend on our ongoing dedication with further amenities upgrades and to the best high quality of racing we will supply,” he mentioned.

The spotlight of the meet was Cyberknife’s win within the Haskell Stakes on July 23. With Florent Geroux aboard, the Brad Cox-trained colt rallied down the stretch and edged Bob Baffert’s Taiba on the wire. Cyberknife set a observe and race report as he accomplished the mile and an eighth in 1:46.24.

Fastened-Odds Wagering Debuts

Monmouth Park additionally made information this summer season for being the primary US observe in fashionable occasions to supply fixed-odds racing. The observe labored with Australian-based BetMakers Know-how Group to supply the product when the meet began in early Could.

The observe’s end-of-the-meet launch didn’t publicize the fixed-odds deal with. Nevertheless, Invoice Pascrell III, a New Jersey-based lobbyist who helped garner help within the state and is working to get fixed-odds authorized elsewhere within the US, mentioned the fixed-odds home windows on the Oceanport observe did about 17% of the parimutuel deal with.

Primarily based on these numbers, that will put the on-track, fixed-odds deal with at about $3 million for the meet.

Bettors elsewhere within the US couldn’t make fixed-odds wagers on Monmouth races this yr. It was solely out there to the 368,101 individuals who attended races on the observe this yr. Fastened odds had been additionally solely out there for win, place, and present wagering. Supporters of mounted odds are hoping to see different states, like Colorado and presumably Louisiana, grow to be the following to approve the wagering product.

Drazin advised On line in an e-mail Tuesday that the observe “noticed optimistic returns” from mounted odds this yr and that it piqued the curiosity of those that attended races.

He additionally stays bullish about its future in racing.

In 5 years, I imagine that fifty p.c of the win-place-show deal with could also be mounted odds,” he mentioned. “I might additionally count on that in Q1 2023, a number of sportsbook operators will add mounted odds, which is able to put extra eyes on our racing product.”

A Monmouth app for fixed-odds wagering that had been deliberate to launch for the Haskell must be out there quickly, Drazin added. That app may even supply further tracks for bettors.

Racing Strikes to the Meadowlands

Whereas the meet has concluded at Monmouth, thoroughbred racing continues within the Backyard State for the following 5 weeks.

The Meadowlands will host 9 six-race playing cards beginning on Friday. All of the races shall be run on the turf course on the East Rutherford observe each Friday and Saturday night time, apart from Oct. 15. That’s the identical day because the Far Hills Steeplechase races.

Thoroughbred racing on the Meadowlands will conclude on Oct. 22.

Pascrell mentioned fixed-odds wagering shall be out there at each the Meadowlands thoroughbred and Far Hills meets.

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