Experts See Fixed Odds For Horse Racing Betting Becoming The Norm

  • Many experts in horse racing betting see fixed odds as the future for bettors.
  • Horse racing mainly runs on a parimutuel basis.
  • Fixed odds make horse racing betting more in line with sports betting.

ATLANTIC CITY, N.J. – During the SBC Summit North America summit in New Jersey, experts from BetMakers and Monmouth Park discussed fixed odds for horse racing betting. What was revealed is that many believe this is the future of the practice.

Horse racing betting has been dominated by parimutuel betting for decades. Fixed gambling odds would make the practice more in line with traditional sports betting.

Monmouth Park will see fixed odds for horse racing betting go live online on July 23. Monmouth CEO Dennis Drazin believes that within the next five years, fixed odds on horse racing will take up 50% of the total betting handle.

Horse Racing’s Future

The summit saw speakers in Christian Stuart of BetMakers, Bill Pascrell III from Monmouth Park, Dennis Drazin of Monmouth, and other discuss horse racing betting.

Stuart said that only 2% of betting terminals offer fixed odds at Monmouth but they account for 10% of the total handle at the track. This shows that despite limited access, fans are clearly embracing fixed odds.

This success is what lead to the push for Monmouth to launch fixed odds ahead of the Haskell Stakes. This will be an online wagering property

Experts believe mobile betting practices from sportsbooks and online casinos have shifted the audience. Fans are used to fixed odds and the lack of fixed odds options is what keeps many away from horse racing betting.

With fixed odds on horses as well as online accessibility to wagering, the belief is that horse racing betting will see an increase in action from newer bettors.

These online fixed odds on horse racing will go live in New Jersey first. The goal is to slowly launch in other markets over time as well.