Fixed odds betting options on horse racing could come to New York residents if a new bill introduced by N.Y. Senator Joseph Addabbo, Chairman of the state Senate's Racing, Gaming and Wagering Committee, is passed.
Senate Bill 2343 is similar to a measure introduced a year ago, also by Sen. Addabbo, but which was never advanced for a vote.
Precious: Fixed Odds Wagering Fails to Advance in New York
"There should be no doubt amongst racing stakeholders that our existing pari-mutuel offerings are not enough in today's competitive market," said Thoroughbred Idea Foundation executive director Patrick Cummings.
In a statement from the New York Racing Association, published by the Daily Racing Form and other outlets earlier this week, NYRA vice president of communications Pat McKenna indicated the measure had NYRA's support and "presents an enormous opportunity for horse racing to share in the rapid growth and unrivaled success of New York State's mobile sports wagering marketplace."
"Allowing mobile sports wagering platforms to offer premium horse racing content would generate untapped gaming revenue for New York State, attract new fans to horse racing, and deepen the sport's overall economic impact."
Last year was the first full season with fixed odds offerings for on-track customers at Monmouth Park in New Jersey, where the offering is managed by Australian firm BetMakers. Wider distribution to New Jersey customers, including ADW betting via fixed odds on Monmouth races and simulcasted races, is expected in 2023.
