New Jersey Tracks to Begin Offering Two New Exotic Wagers
Updated: Tuesday, October 4, 2005 1:04 PM
Edited press release
Posted: Tuesday, October 4, 2005 1:04 PM
Scientific Games Racing, a subsidiary of Scientific Games Corporation, and Cantor Index announced Tuesday that the Meadowlands Racetrack and Monmouth Park Racetrack, both owned by the New Jersey Sports and Exposition Authority, will begin to offer the Choose Six and Group Bet, pending approval of the New Jersey Racing Commission.
The Choose Six requires the bettor to choose the winner of any six races on the racing program. There are two fundamental differences from a traditional Pick Six: First, the bettor, not the track, chooses the six races in their Choose Six. Second, the bettor has the option of buying back into the pool if they are eliminated, as long as there are at least six races remaining on the card. The Meadowlands will begin offering Choose Six wagering upon approval of the New Jersey Racing Commission. The Choose Six debuted at Delaware Park in July.
The Group Bet provides the fans with a one-in-three chance of winning each race by placing horses into three different categories, but all within the win pool. The morning line favorite remains a separate win bet, while the remainder of the field is placed into one of the two groups, Group A or Group B. Group A will be made up of the "contenders" while Group B is the "longshots," or every other horse in the race. The Group Bet is a win bet on every horse in the chosen group. The bettor need not be concerned with which member of their Group wins, as the payout will be the same. The Group Bet will debut in April 2006.
"We are thrilled that both the Meadowlands and Monmouth Park will be offering the Choose Six and the Group Bet," said Joe Asher, managing director of Cantor Index. "The Meadowlands is without question the premier harness track in the world. Additionally, Monmouth Park is the home of the 2007 Breeders' Cup. We are excited to partner with the New Jersey Sports and Exposition Authority and look forward to offering the Choose Six and Group Bet at both of these great racetracks."
"The availability of new content and bet types is very important to growth in racing," said Lorne Weil, chairman and CEO of Scientific Games Corp. "It speaks to the visionary spirit of the NJSEA that they are adopting these new bets to offer their fans more options and more opportunities and we're pleased that they have elected to do this with the Choose Six and the Group Bet."
"We hope the Choose Six and Group Bet will help in creating a new and varied wagering option for our guests on and off-track," said Dennis Dowd, senior vice president-racing of NJSEA. "Both wagers have the potential to stimulate interest from current and casual racing fans."
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